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Fundação Viva de Previdência
Fundação Viva de Previdência was established in 1974 as a non-profit closed pension entity.
Fundação Viva de Previdência
Fundação Viva de Previdência was established in 1974 as a non-profit closed pension entity. It operates as a multi-sponsored and multi-institutional plan from its Brasília headquarters, with Silas Devai Júnior serving as Diretor-Presidente. Originally linked to the GEAP healthcare system, the fund now runs independently and carries the ABRAPP Governance Self-Regulation Seal. The portfolio mixes direct holdings and fund commitments across Brazilian assets. Direct commercial real estate includes the fund's own headquarters in Brasília. Fund positions include the CSHG Logística (HGLG11) and CSHG Renda Urbana (HGRU11) real estate vehicles, VBI Prime Offices (PVBI11), and Pátria Special Opportunities. An allocation to Brasil Energia Renovável marks an infrastructure and energy-transition tilt. Viva also carries a participant loan portfolio, while a legacy direct real estate portfolio is in liquidation. Operationally, Viva runs lean. Executive leadership includes Adriano Suzarte as Investment Manager and Ana Luísa Dal Lago as President of the Deliberative Council. The fund's governance posture is built around ABRAPP's self-regulation framework. Viva is a PRI signatory and a CDP member, and it maintains close ties with ANAPAR for participant representation. In May 2026, the fund participated in Brazil's 13th National Financial Education Week for the first time. The fund's structural edge lies in its architecture as a multi-sponsor closed entity — uncommon in Brazilian supplementary pensions — which allows it to pool contributor bases under centralized asset management. The historic GEAP relationship and the dual focus on direct real assets plus managed funds create a hybrid model that sits between a traditional pension and an operating asset company.
General information
Firm type
Pension Fund
Year founded
1974
AUM
$565M (Altss estimate)
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
Adriano Suzarte
Investment Manager
Ana Luísa Dal Lago
President of the Deliberative Council
Sector focus
Frequently asked questions
Who runs investment decisions at Fundação Viva de Previdência?
The Diretor-Presidente, Silas Devai Júnior, leads the fund overall. Day-to-day investment management is handled by Adriano Suzarte, the named Investment Manager. Governance oversight sits with the Deliberative Council, chaired by Ana Luísa Dal Lago.
How does Viva Previdência source its direct investments?
Viva invests primarily in Brazil through direct property holdings, listed real estate funds, and unlisted special-opportunities vehicles. The fund owns its headquarters directly and screens fund commitments alongside established Brazilian managers such as Pátria and CSHG.
Is the fund structured as a single-employer pension or a multi-sponsor plan?
It is a multi-sponsored and multi-institutional closed supplementary pension fund — a structure that pools assets from several contributing entities. The GEAP health system was its original sponsor, and the fund still operates the Viva Empresarial plan with GEAP and Funpresp-Jud as named sponsors.
What is Viva Previdência's posture on responsible investing?
Viva is a signatory of the PRI and a member of the Carbon Disclosure Project (CDP). It adheres to the Global Investor Statement on Climate Change, and its governance framework holds the ABRAPP Seal of Self-Regulation in Investment Governance.
Does the fund participate in fund commitments or only direct deals?
The portfolio blends both approaches. Named fund commitments include positions in Pátria Special Opportunities, CSHG Logística (HGLG11), CSHG Renda Urbana (HGRU11), and VBI Prime Offices (PVBI11). These run alongside a legacy direct real estate portfolio currently in liquidation, a headquarters property, and a participant loan book.
How is the fund related to GEAP?
Viva Previdência was formerly known as Geap Previdência and retains a historical relationship with GEAP Autogestão em Saúde. GEAP is a sponsor of the Viva Empresarial plan, but the fund now operates as an autonomous multi-sponsor entity independent of GEAP's direct control.
What is Viva's known posture toward co-investments alongside external GPs?
The fund's strategy as observed includes co-mingled fund commitments and direct-asset ownership rather than formally structured co-investment programs. No separate co-investment vehicle or club-deal structure is disclosed.
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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