Eletros

Eletros

Eletros was founded in 1971 to provide supplementary pension benefits exclusively to employees of the Eletrobras Group and its affiliated state-controlled energy entities. Its participating sponsors now include Eletrobras, Eletronuclear, Cepel, EPE, and ONS — essentially mapping the entire federal electric-energy ecosystem in Brazil. The fund also counts the Municipality of Sorocaba among its sponsoring entities through a public-servant pension plan, broadening its beneficiary base beyond the power industry. Aline Braz Miranda Sá chairs the Deliberative Council alongside a team led by Pedro Paulo da Cunha as Executive President. Eletros allocates across public federal bonds, which anchor its Brazilian fixed-income exposure, alongside a developed real-asset portfolio of commercial properties concentrated in downtown Rio de Janeiro — notably the Edifício Eletros on Rua do Ouvidor and the adjacent Shopping Center Paço do Ouvidor, a mixed-use asset the fund actively markets for lease and sale. On the alternatives side, Eletros runs a fund-of-funds strategy spanning private credit, hedge funds, and commodity-linked segments. While individual GP commitments are not publicly itemized, the fund’s membership in Abrapp and Anbima places it firmly within the universe of Brazil’s largest closed-pension institutional allocators, routinely accessing commingled vehicles alongside funds like Previ and Petros. In May 2026, Eletros formally filed the application to transfer management of its CV ONS Plan to Vivest, signaling a reorganization of plan oversight following its announced incorporation by EletrobrasPrev — a deal that, as of mid-2026, awaits final regulatory approval from Previc, Brazil’s pension supervisory authority. The incorporation would fold Eletros into the broader Eletrobras complementary-pension structure, consolidating multiple plans under a single entity. The fund’s headquarters remain in Rio de Janeiro, with no additional offices publicly listed. Eletros operates two structural offshoots rarely found side-by-side in a single closed pension fund: an affiliated health-assistance association (Eletros Saúde) offering a proprietary medical plan to participants, and the Fundação de Assistência e Bem-Estar Social (Fabes) delivering social-support services through a dedicated operational arm. This dual provision — retirement security plus active health and welfare programs — embeds Eletros more deeply into participant life than most peer funds. Combined with a commercial real estate portfolio managed directly rather than through third-party REITs, the model gives the fund an operational footprint distinct from the pure financial-intermediation stance typical of its Brazilian institutional peers.