Brazil-based pension fund Previ sold stakes in seven funds to Spectra Investimentos for BRL157m via a secondary transaction.
(Istoe Dinheiro) Previ, a pension fund for Banco do Brasil employees, sold its stake in seven FIPs (Funds for Investment in Participations) to Spectra Investimentos, a fund manager operating in the secondary market for this type of investment. Previ will receive R$ 157 million in the operation.
According to Previ, negotiations began in 2019. The funds traded were FIP Brasil Agro, FIP Brasil Sustentabilidade, FIP Brasil Petróleo, FIP Brasil Equity Properties (FIP BEP), FIP Investidores Institucionais III, FIP Portos e Ativos Logísticos and FIP Living Earth.