# IPASEMAR

IPASEMAR is a Pension Fund based in Marabá, Brazil.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Marabá, Brazil
- **Region:** South America
- **Address:** Folha 32 Quadra 14 Lote 01, Nova Marabá, Marabá, PA, CEP 68508-130, Brazil
- **Assets under management:** Undisclosed
- **Website:** www.ipasemar.pa.gov.br
- **LinkedIn:** https://linkedin.com/company/ipasem

## Regulatory record

- **Reports private funds:** No

## About

IPASEMAR operates as the social security institute for municipal employees of Marabá, a resource-driven city in Pará state where mining and agriculture dominate the local economy. It was established as a municipal autarchy to manage retirement and pension benefits outside the federal INSS system. The institute collects contributions from civil servants and the Municipality of Marabá, its parent entity. Like most Brazilian municipal pension regimes, IPASEMAR invests under Resolution CMN 4,963 guidelines, which define permissible asset classes and strict exposure limits. Fixed-income allocations to federal government bonds typically anchor the portfolio. The fund also maintains a real estate footprint via its headquarters property at Folha 32 Quadra 14 Lote 01 in Nova Marabá. Karam El Hajjar oversees financial management and Athos Cesar Pinheiro Filho coordinates treasury operations, executing investment directives approved by the Board of Administration under Marlúcia Saraiva Vasconcelos. The fund participates in two industry associations — ABIPEM and ANNEP — connecting it to national and regional networks of public pension institutions. No alternative investment partnerships, direct private equity positions, or external manager relationships have been publicly disclosed as of 2025. Professional headcount and portfolio size remain proprietary. IPASEMAR's architecture reflects Brazil's municipal pension fragmentation: each city-run regime faces distinct demographic and fiscal pressures absent the pooling mechanisms found in state-level funds. Its governance rests with the Board of Administration, while day-to-day treasury falls under a coordination structure rather than an autonomous investment committee — a common model for smaller subnational funds.

## Sectors

- Real Estate

## People

- Nilvana Monteiro Sampaio Ximenes — Director President
- Karam El Hajjar — Financial Director
- Athos Cesar Pinheiro Filho — Treasury Coordinator
- Marlúcia Saraiva Vasconcelos — Council President

## Questions

### Who runs investment decisions at IPASEMAR?

Financial Director Karam El Hajjar is responsible for financial management and investment oversight. Treasury Coordinator Athos Cesar Pinheiro Filho handles day-to-day treasury operations. Both operate under the authority of Director President Nilvana Monteiro Sampaio Ximenes and the Board of Administration, whose president is Marlúcia Saraiva Vasconcelos.

### What are the federal investment rules that govern IPASEMAR?

IPASEMAR follows Brazil's Resolution CMN 4,963, which sets strict limits for RPPS funds on asset classes including federal bonds, corporate credit, equities, and real estate. Fixed-income instruments — particularly sovereign debt — tend to dominate portfolios at this scale.

### Which industry associations does IPASEMAR belong to?

IPASEMAR is a member of ABIPEM, the national association for Brazilian public pension institutions, and ANNEP, the regional association representing pension funds in Brazil's North and Northeast regions. Both provide advocacy, technical training, and networking platforms for public asset owners.

### How is IPASEMAR related to the Municipality of Marabá?

IPASEMAR is a municipal autarchy — a legally distinct public entity created by the Municipality of Marabá to administer social security for its civil servants. The municipality acts as the parent entity and is a contributing employer alongside employee contributions.

## Related profiles

- [Ipasem Novo Hamburgo](https://altss.com/profile/ipasem-novo-hamburgo)
- [IPASP](https://altss.com/profile/ipasp)

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

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

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