CAPEF

CAPEF

CAPEF was established on 8 March 1967 as the supplementary pension vehicle for Banco do Nordeste do Brasil S.A. staff, later extending coverage to Camed and its own employees. The fund operates under Brazilian closed-entity pension rules and reports more than 13,000 participants and beneficiaries. Investment activity centers on fixed income, variable income and real assets. Core holdings include the exclusive CAPEF FI Renda Fixa Previdenciário fund valued near $750 million and the Fortaleza FI Multimercado. Public equity positions comprise Vale, Petrobras, Itaú Unibanco, Bradesco, Ambev, JBS, Lojas Renner, Telefônica Brasil, Raia Drogasil and Localiza. Private commitments run through Kinea Private Equity V, Lacan Florestal III, Pátria Infraestrutura V and BTG Pactual Infraestrutura III. Direct real estate ownership covers commercial buildings in Rio de Janeiro, Recife and Fortaleza. Geographic exposure remains concentrated in Brazil. The investment team participates in ABRAPP, ANBIMA and ICSS. External managers include BTG Pactual Asset Management, Vinci Partners, XP Asset Management, Pátria Investimentos and Safra Asset Management. November 2024: Ocione Marques Mendonça spoke at the 31º Seminário de Investimentos e Benefícios on the 2025 economic outlook, investment policy and infrastructure. CAPEF maintains a direct sponsor relationship with Banco do Nordeste do Brasil, which serves as both founder and custodian. This structure channels plan design and risk parameters through the sponsor while the fund executes separate investment mandates via dedicated FIPs and exclusive vehicles.