Jakarta – The Daya Anagata Nusantara Investment Management Agency (BPI), or Danantara, is accelerating the transformation of State-Owned Enterprises (BUMN) through strategic collaboration, both at the national and global levels.
BPI Danantara Managing Director, Setyanto Hantoro, said the transformation of state-owned enterprises (BUMN) took place in four main stages.
“The first stage is a fundamental business review, or an in-depth review of the business foundations. We are currently conducting a comprehensive review of more than 900 entities,” he said.
He added that the second phase includes restructuring and simplification because many SOEs are experiencing overlapping roles and internal competition.
“Restructuring is a necessity to avoid duplication of functions,” he explained.
The third phase is business consolidation. Danantara aims to establish a larger entity that is more operationally efficient and financially robust. The final phase is innovation and execution, to unlock added value for the government, investors, and the people.
“Law Number 1 of 2025 gives us greater room to manage dividends, distribute capital strategically, and unify the direction of state-owned enterprises,” Setyanto added.
In a global context, Danantara has partnered with various sovereign wealth funds (SWFs), including the Qatar Investment Authority (QIA), Future Fund Australia, and China Investment Corporation (CIC), to accelerate asset restructuring in accordance with international standards.
Danantara’s Managing Director of Global Relations and Governance, Mohamad Al-Arief, said that Danantara is targeting investment funding of $5 billion by the end of 2025.
“In addition to the initial $20 billion in funding, we are also targeting annual dividends of up to $8 billion from our state-owned enterprise portfolio,” he said.
Al-Arief emphasized that the Danantara partnership is not just a transaction, but a transformation of governance based on global practices.
“We partner directly with world-class asset managers to strengthen institutions over the long term,” he said.
The first collaboration with QIA began last April with a US$4 billion fund, focused on downstreaming, renewable energy, and healthcare.
In May, Danantara partnered with Future Fund Australia, followed by CIC later that month on an ASEAN-China project.
Danantara Chief Investment Officer, Pandu Patra Sjahrir, added that Danantara manages the operations of 889 state-owned enterprises.
“We will reinvest dividends from state-owned enterprises, both domestically and internationally,” Pandu said.
He also said Danantara’s biggest challenge was human resources.
“We recruit global talent through headhunters to realize President Prabowo’s vision of creating a long-term impact and legacy,” he stressed.
