FAELCE

FAELCE

FAELCE was created in 1980 as the closed pension entity sponsored by Coelce, now Enel Brasil. David Augusto de Abreu serves as board president; Carlos César Moreira Padilha holds the administrative and financial director post. The foundation’s mandate remains delivery of pension benefits to current and former employees of the utility. Assets total approximately $320 million. Positions include the exclusive fixed-income fund Faelce Jeri administered by Bradesco, a 0.19 percent interest in Kinea Private Equity II, and participatory debentures of Vale S.A. Additional exposures sit in multimarket funds run by Absolute Gestão and Bahia Asset Management. All investments remain domiciled in Brazil. The foundation also carries a $3.3 million loan book extended directly to participants. FAELCE owns two commercial buildings in Fortaleza: the former Coelce headquarters on Rua Padre Valdevino and its current administrative site on Avenida Barão de Studart. It belongs to Abrapp, the national association of closed pension funds, and attended the 2023 Abrapp congress. Service providers include Bradesco as custodian and multiple auditors over the last decade. Governance ties the foundation directly to its sponsor Enel Brasil through the Plano BD and Plano CD vehicles, with investment decisions executed inside those plan structures rather than through external discretionary mandates.