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Fundação Viva de Previdência
Fundação Viva de Previdência opened in 1974 as a closed complementary welfare entity, originally tied to GEAP as Geap Previdência. Today it operates as a...
Fundação Viva de Previdência
Fundação Viva de Previdência opened in 1974 as a closed complementary welfare entity, originally tied to GEAP as Geap Previdência. Today it operates as a multi-sponsored, multi-institutional non-profit based in Brasília, with full patrimonial, administrative, and financial autonomy. Silas Devai Júnior serves as Diretor-Presidente, and Ana Luísa Dal Lago presides over the Deliberative Council. The fund deploys capital across three primary channels: direct real estate, a participant loan portfolio, and fund commitments to external managers. Visible property holdings include an industrial logistics position through HGLG11 / CSHG Logística, urban commercial exposure via HGRU11 / CSHG Renda Urbana, and prime office assets in PVBI11 / VBI Prime Offices, all in Brazil. Additionally, the fund holds a stake in Pátria Special Opportunities and has exposure to Brasil Energia Renovável, signaling an allocation to both private equity and renewable energy infrastructure. Directly owned assets include the fund’s own headquarters complex in Brasília and a legacy direct real estate portfolio in liquidation. Team size and total deployment figures are not publicly disclosed. The fund maintains an investment team led by Adriano Suzarte and participates actively in domestic industry networks: it is a member of ABRAPP, holding that association's Seal of Self-Regulation in Investment Governance, and an instituting member of the ANAPARprev plan through ANAPAR. On the environmental side, Viva is a signatory of the PRI and participates in the Carbon Disclosure Project, committing to climate-related disclosure. No recent operational event within the last 24 months was verifiable from public sources. Viva Previdência's structural differentiator is its embedded dual identity — it is both a pension fund managing participant retirement assets and a direct property owner liquidating a legacy real estate book. This hybrid posture, uncommon among Brazilian closed entities of its size, forces the investment team to balance illiquid legacy asset sales against new fund commitments while meeting the governance standards demanded by ABRAPP's self-regulation seal.
General information
Firm type
Pension Fund
Year founded
1974
Location
Region
Latin America
Country
Brazil
City
Brasília
Corporate office
SMAS, Trecho 03, Conjunto 03, Bloco E, Salas 409-416, Brasília, DF, Brazil
Principals
Silas Devai Júnior
Diretor-Presidente
Ana Luísa Dal Lago
President of the Deliberative Council
Adriano Suzarte
Investment Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Fundação Viva de Previdência?
Silas Devai Júnior is the Diretor-Presidente, the top executive. Investment management is handled by Adriano Suzarte, the named Investment Manager. The Deliberative Council, led by President Ana Luísa Dal Lago, provides governance oversight.
Which asset classes does Viva Previdência allocate to?
The fund operates across three distinct categories. It holds direct real estate, including its Brasília headquarters and a legacy portfolio in liquidation. It runs a participant loan book. And it commits to external funds — confirmed positions span logistics, urban commercial, and prime office REITs, plus private equity through Pátria Special Opportunities and renewable energy via Brasil Energia Renovável.
Is Viva Previdência structured as a single-sponsor or multi-sponsor fund?
It is a multi-sponsored and multi-institutional closed entity. Known sponsors include GEAP Autogestão em Saúde — the fund's historical origin as Geap Previdência — and Funpresp-Jud, both linked to the Viva Empresarial plan.
Does Viva Previdência participate in fund commitments or only direct deals?
Both. The fund commits as a limited partner to external vehicles like Pátria Special Opportunities and publicly traded Brazilian REITs (HGLG11, HGRU11, PVBI11). In parallel, it owns physical real estate directly and originates loans to plan participants.
How is Viva Previdência related to GEAP?
Viva was originally Geap Previdência, the pension arm of GEAP Autogestão em Saúde, a large Brazilian health-plan operator. It later rebranded as an independent multi-sponsored entity, though GEAP remains a sponsor of the Viva Empresarial plan.
What is Viva Previdência's posture on environmental and governance standards?
The fund is a signatory of the Principles for Responsible Investment and participates in the Carbon Disclosure Project. Domestically, it holds ABRAPP's Seal of Self-Regulation in Investment Governance, signaling adherence to Brazilian industry governance best practices for closed pension funds.
Does Viva Previdência disclose its total assets under management?
No. The fund does not publish a consolidated AUM figure. Altss estimates the portfolio at roughly USD 565M based on observable fund commitments, property holdings, and the loan portfolio, but this should be treated as an approximation rather than a firm-reported number.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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