# IPAJM

IPAJM is a Pension Fund based in Vitória, Brazil.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Vitória, Brazil
- **Region:** South America
- **Address:** Avenida Cezar Hilal, nº 1345 Santa Lúcia, Vitória, ES, Brazil
- **Founded:** 2004
- **Assets under management:** 1.4B (Altss estimate)
- **Website:** ipajm.es.gov.br
- **LinkedIn:** https://br.linkedin.com/company/instituto-de-previd-ncia-dos-servidores-do-estado-do-esp-rito-santo---ipajm

## Regulatory record

- **Reports private funds:** No

## About

IPAJM was founded in 2004 to administer pension benefits exclusively for civil servants of the state of Espírito Santo. Its mandate stems directly from state public administration responsibilities rather than private wealth accumulation. The institute allocates the majority of assets to inflation-linked federal securities such as NTN-B and NTN-F bonds, alongside holdings in state-managed fixed income funds on B3. Confirmed positions include exposure through Vinci FIP / FIA Funds and equity allocations via Banestes FIC FIA. Geographic focus remains domestic, centered on Brazil with no disclosed international commitments. IPAJM maintains membership in ABIPEM and APEPP. It attended the 59º Congresso Nacional da ABIPEM in June 2026. Service providers include XP Investimentos as custodian and Banco do Brasil, Caixa Econômica Federal, and Banestes as investment advisors.

## Sectors

- Public Pension
- Fixed Income

## People

- Edmílson dos Santos — Executive President

## Questions

### Who runs investment decisions at IPAJM?

Edmílson dos Santos serves as Executive President and oversees investment policy for the institute.

### Does IPAJM participate in fund commitments or only direct deals?

IPAJM holds positions in Vinci Partners funds and multiple B3-listed fixed income vehicles managed by state banks.

### What asset classes does IPAJM hold?

The portfolio centers on Brazilian government bonds, inflation-linked securities, and select equity and fixed income funds on B3.

### How is IPAJM related to the state government?

IPAJM operates as the official pension institute sponsored by the Governo do Estado do Espírito Santo.

## Related profiles

- [Harold Alfond Foundation](https://altss.com/profile/harold-alfond-foundation-haf)
- [Edison International](https://altss.com/profile/edison-international)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/ipajm

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology