Herbert Smith Freehills Kramer and Hiswara Bunjamin & Tandjung advise Schroders on sale of Indonesian investment business to Manulife

Herbert Smith Freehills Kramer and Hiswara Bunjamin & Tandjung have advised Schroders on the sale of its Indonesian investment business to Manulife Wealth & Asset Management.

Subject to regulatory approval, the transaction will combine Schroders Indonesia’s more than IDR56 trillion (US$3.38 billion) assets under management with Manulife Wealth & Asset Management’s IDR101.7 trillion (US$6.14 billion) in assets (US$ asset figures as at 30 June 2025).

“We’re delighted to have advised Schroders on this transaction, combining two of Indonesia’s leading fund management businesses,” said HSF Kramer partner Michelle Virgiany, who led the team advising Schroders.

“The new entity will combine the local experience, clients and investment platforms of two industry leaders to meet increasing demand in the expanding Indonesian market.”

Michelle led the team advising Schroders together with HSF Kramer partner Vik Tang, with support from HBT partners Viska Kharisma Fajarwati, Irfan Ghazali and Dhani Pattinggi, senior associates Andre Lum and Mark Khouri in Singapore, and associates Fransiska Larasati and Naila Amatullah in Jakarta.

“We continue to see interest and activity in the Indonesian financial services sector, from both local and international market participants,” said Vik Tang. “As well as consolidation, there is growing interest in private and public investments to capture more of this sector’s rapid sophistication.”

The transaction is expected to close following the satisfactory completion of customary closing conditions and regulatory approvals.