# São Sebastião Prev

São Sebastião Prev is a Pension Fund based in São Sebastião, Brazil.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** São Sebastião, Brazil
- **Region:** Latin America
- **Address:** São Sebastião, SP, Brazil
- **Founded:** 2019
- **Assets under management:** $150M - $170M (Altss estimate)
- **Website:** ssprev.sp.gov.br

## Regulatory record

- **Reports private funds:** No

## About

São Sebastião Prev was established in 2019 via municipal Law 241/2019, championed by Mayor Felipe Augusto, to administer the Regime Próprio de Previdência Social (RPPS) for the São Sebastião municipality. It replaces whatever ad-hoc or state-level mechanism previously serviced the city's public workforce. The creation of a dedicated autarchy reflects a broader Brazilian municipal trend toward localized pension governance, though the São Sebastião entity operates at a scale that demands lean administrative infrastructure — its explicitly listed governing bodies are a Fiscal Council and a Board of Administration, with named appointees for the 2024–2027 term. Deployment is concentrated in Real Estate Investment Funds (FIIs) within Brazil, a structure that provides income distribution and liquidity relative to direct property ownership but ties the fund's fortunes to the domestic real estate cycle and interest-rate environment. No venture, private equity, or offshore mandate is publicly documented. There is no public evidence of fund-of-funds commitments, co-investment clubs, or external GP relationships. January 2026: São Sebastião Prev swore in new board members, completing a process that renewed the governing bodies for the current term. The firm lists roughly six named governance figures across its Fiscal Council and Board of Administration for the 2024–2025/2027 cycles, alongside President Rodrigo Caldeira. The fund maintains a physical headquarters at Rua Prefeito João Cupertino dos Santos, 48 e 52, in central São Sebastião. The defining structural feature is the entity's dual mandate: it is simultaneously a municipal government department responsible for pensioner services and a financial asset manager for a localized RPPS. This means governance is inherently political — the mayor was instrumental in the autarchy's creation, and board appointments are tied to municipal administration cycles. For external allocators, the entity is less a prospective institutional LP than a case study in how Brazil's regional public pension pools are building standalone investment capacity at sub-$200 million asset levels.

## Sectors

- Real Estate

## People

- Rodrigo Caldeira — President
- Felipe Augusto — Mayor of São Sebastião
- Doraci Carvalho — Member of the Board of Administration
- Alessandro Arruda — Member of the Board of Administration
- Adriana Puertas — Member of the Fiscal Council
- Edvaldo Fraga — Member of the Fiscal Council
- Adriana Camargo — Member of the Fiscal Council

## Questions

### Who runs investment decisions at São Sebastião Prev?

The President, Rodrigo Caldeira, leads day-to-day investment execution under the oversight of a Board of Administration. The board's 2024-2027 term includes Doraci Carvalho and Alessandro Arruda. A separate Fiscal Council, with members such as Adriana Puertas and Edvaldo Fraga, provides compliance and financial oversight.

### What investment instruments can São Sebastião Prev access?

As a Brazilian RPPS, the fund operates under CMN Resolution 4,963, which restricts allocations primarily to government bonds, high-grade local fixed income, and permitted real estate investment vehicles. Public records confirm holdings in Brazilian Real Estate Investment Funds (FII). The entity cannot invest offshore or in private equity outside of locally listed funds.

### Is São Sebastião Prev open to external co-investment?

No. The entity is a captive municipal pension fund. Its capital comes exclusively from mandatory contributions by the municipality and its public servants. There is no mechanism or precedent for external co-investment alongside third-party allocators.

### How does São Sebastião Prev's structure differ from larger Brazilian pension funds?

Unlike federal funds such as Previ or Petros — which collectively manage hundreds of billions of reais — São Sebastião Prev serves a single municipality of roughly 90,000 people. Its governance is directly tied to the mayor's office, and its investment policy is calibrated to the actuarial needs of one municipal workforce, not a national employee base.

### What is the entity's regulatory reporting requirement?

São Sebastião Prev must comply with transparency and reporting standards set by the Ministry of Social Security and the National Council of Social Security (CNPC). This includes regular actuarial valuations and public disclosure of investment holdings through official channels.

## Related profiles

- [L&C Bio](https://altss.com/profile/l-c-bio)
- [Cleveland Museum of Natural History](https://altss.com/profile/cleveland-museum-of-natural-history)

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/s-o-sebasti-o-prev

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