By: Michelle Putri Santoso)*
Amidst the increasingly complex dynamics of the global economy, Indonesia has shown progressive steps by strengthening the national investment architecture through the Danantara Indonesia Investment Management Agency (BPI). The institution, which was inaugurated by President Prabowo Subianto in February 2025, has now entered a new chapter by responding to the challenges of managing state assets in an integrated and modern manner.
One of the important milestones that is being awaited is the launch of an investment holding entity that will be the main manager of dividend deposits from State-Owned Enterprises (BUMN). This entity will be under the leadership of Danantara Indonesia’s Chief Investment Officer, Pandu Patria Sjahrir. Although the launch has not been confirmed, a strong signal has been given by Danantara that the process will take place in the near future.
Danantara Indonesia’s Managing Director of Stakeholders Management, Rohan Hafas, indicated that the launch of the investment holding was a necessity in Danantara’s strategic steps. He also provided an illustration that the transformation process of managing state assets was on track.
Structurally, all shares of this investment holding will be owned by the Indonesian government. The state will hold 1% of Series A Dwiwarna shares accompanied by special rights through the Ministry of SOEs, while 99% of Series B shares will be owned by Danantara Indonesia. This scheme reflects the state’s control which remains dominant but provides room for professionalism and efficiency in fund management.
This step is not just the formation of a formal entity. According to the Associate Director of BUMN Research Group of the FEB UI Management Institute, Toto Pranoto, the success of the investment holding company depends greatly on who will be appointed as the manager. He said that at least the company has experience in portfolio management and direct involvement in the real sector to reach international investors. Several BUMNs such as BPUI or Danareksa could be alternatives.
Danantara has previously appointed PT Biro Klasifikasi Indonesia (BKI), which has now changed its name to PT Danantara Asset Management (Persero), as the operational holding. Under the direction of Danantara Indonesia’s COO, Dony Oskaria, this entity will oversee 889 BUMNs spread across various strategic sectors. The strengthening of BKI’s role is carried out based on Government Regulation No. 15/2025 as the legal basis for state capital participation for the establishment of an operational holding.
Not only strengthening internal governance, Danantara has also succeeded in building trust at the global level. Cabinet Secretary Teddy Indra Wijaya said that Danantara will receive additional funding of USD 10 billion or around Rp162.28 trillion from foreign banks in July 2025. The additional funds were obtained from foreign banks. This international trust is the fruit of Danantara’s hard work in building a reputation and consistency of governance since its launch.
BPI Danantara CEO Rosan Perkasa Roeslani, on various occasions emphasized that his institution is not only present as a fund manager, but also as a locomotive for Indonesia’s economic development. In the inauguration of Wisma Danantara Indonesia which is now the institution’s head office, Rosan conveyed a strong commitment to uphold the constitutional mandate and accelerate national economic growth.
He said that it is a very big responsibility, so it must be based on full commitment to President Prabowo Subianto and Vice President Gibran Rakabuming Raka. According to him, the mandate must be maintained as well as possible. He added that Wisma Danantara will be a big house for the state, business actors, academics, and all stakeholders in building the vision of Indonesia Emas 2045.
Since its establishment, Danantara has recorded investment commitments worth USD 7 billion from partner countries such as Qatar, Russia, China, and Australia. This incoming investment is an indicator of Danantara’s high credibility in the eyes of the international community. Rosan also said that there are still many opportunities for cooperation that are being explored and will strengthen Indonesia’s long-term investment balance.
Danantara’s role in the grand framework of national development also received direct appreciation from President Prabowo Subianto. In the inauguration of Wisma Danantara, the President emphasized the importance of this institution as a foundation for the transformation of the national economy towards inclusive and sustainable growth. He has high hopes for Danantara as an institution that can accelerate Indonesia’s economic growth to reach 8% per year in accordance with the direction of national development.
Danantara’s strategic role is also seen as a concrete answer to Indonesia’s backwardness in efficient and globally competitive state wealth management. Through a professional, transparent, and international collaboration-based approach, Danantara not only improves the investment management system, but also opens a big door for the presence of quality foreign capital that has a direct impact on national development.
By synergizing institutional strength, global market trust, and national leadership vision, Danantara Indonesia appears as a strategic entity that answers the challenges of investment governance in the global era. It is not only a fund manager, but also a new direction maker for state investment in order to achieve people’s prosperity as mandated by the constitution.
)* The author is an economic observer
