BCPREVI

BCPREVI operates as a Regime Próprio de Previdência Social (RPPS), a municipal autarchy responsible for managing the social security contributions and benefit payments for active and retired public servants of Balneário Camboriú and their dependents. Its mandate is defined by Brazilian federal law governing municipal pension regimes, with investment parameters set by CMN Resolution 4,963. The fund must ensure long-term solvency while meeting current benefit obligations.

BCPREVI's portfolio follows the conservative allocation pattern standard for Brazilian RPPS entities. It holds federal public bonds (Títulos Públicos Federais) and Letras Financeiras as core fixed-income positions. The fund supplements these with direct real estate investments within Balneário Camboriú, as evidenced by its February 2026 acquisition of a land plot on Rua 1500 from the INSS. There is no indication of equity, private equity, or international exposure.

Investment decisions at BCPREVI are overseen by the Director-President, a position held by Leocádio Schroeder Giacomello as of March 2026. The role was previously held by Karine Almeida Gomes. As a municipal autarchy, the Director-President operates within investment policies approved by the fund's administrative and fiscal councils, with asset allocation constrained by federal RPPS regulations.

BCPREVI is a municipal autarchy — a legally distinct public entity created by and operating under the Municipality of Balneário Camboriú. The municipality established the fund in 2004 to manage the social security regime for its civil servants. While legally separate, the fund's governance board includes municipal representatives, and the mayor's administration influences leadership appointments.

BCPREVI does not appear to hold private equity or venture capital positions. Its disclosed holdings — federal bonds, bank-issued Letras Financeiras, and direct real estate — reflect the conservative, liquidity-focused approach typical of small-to-midsize municipal RPPS funds in Brazil. The fund would require specific regulatory authorization and actuarial justification to expand into illiquid alternatives beyond property.

BCPREVI's real estate exposure includes its own headquarters at Rua Dinamarca, 175, and a land plot on Rua 1500 acquired from the INSS in February 2026. Rather than investing through real estate funds or third-party managers, the fund appears to acquire property directly — a posture that leverages its position as a municipal entity with knowledge of the local Balneário Camboriú market and the ability to transact with other public bodies.

BCPREVI is a member of ABIPEM (Associação Brasileira de Instituições de Previdência), the national body representing Brazilian public pension institutions, and ASSIMPASC (Associação dos Institutos Municipais de Previdência de Santa Catarina), which represents municipal pension funds within Santa Catarina state. These affiliations provide regulatory updates, professional training, and collective representation before state and federal authorities.