{"id":18270,"date":"2013-12-10T23:32:27","date_gmt":"2013-12-10T23:32:27","guid":{"rendered":"https:\/\/www.lavca.org\/previ-will-have-r1b-for-private-equity-funds-in-2014\/"},"modified":"2013-12-10T23:32:27","modified_gmt":"2013-12-10T23:32:27","slug":"previ-will-have-r1b-for-private-equity-funds-in-2014","status":"publish","type":"post","link":"https:\/\/www.lavca.org\/previ-will-have-r1b-for-private-equity-funds-in-2014\/","title":{"rendered":"Previ Will Have R$1b for Private Equity Funds in 2014"},"content":{"rendered":"

(Estadao<\/a>) In 2014, the Previ, the pension fund for employees of Banco do Brazil, will have R$1b available to invest in private equity funds. The value is very significant. Since 2006, when Previ started to invest in smaller companies, the average annual contributions did not exceed R$200m. <\/p>\n

The acceleration of this type of investment is largely influenced by Previ\u2019s recent policy changes – as of now, it no longer requires the formation of an investment committee.<\/p>\n

Nem s\u00f3 da sociedade com as maiores empresas brasileiras – como a mineradora Vale, a de alimentos BR Foods, a sider\u00fargica Usiminas, as el\u00e9tricas CPFL e Neoenergia, entre outras – vive o maior fundo de pens\u00e3o do Pa\u00eds. A Previ, dos funcion\u00e1rios do Banco do Brasil, tamb\u00e9m est\u00e1 se tornando s\u00f3cia de empresas menos badaladas, geralmente de m\u00e9dio porte, mas que crescem rapidamente em seus mercados e t\u00eam potencial de chegar \u00e0 bolsa de valores para alavancar o retorno do investimento.<\/p>\n

Em 2014, a funda\u00e7\u00e3o tem dispon\u00edvel R$ 1 bilh\u00e3o para aplicar nos chamados fundos de private equity, que se caracterizam justamente por comprar uma participa\u00e7\u00e3o relevante em empresas de m\u00e9dio porte, fazer um choque de gest\u00e3o e lev\u00e1-las \u00e0 bolsa para se desfazer do investimento ou vender para algum outro investidor. O valor \u00e9 muito significativo. Desde 2006, quando passou a apostar em empresas menores, a m\u00e9dia dos aportes anuais n\u00e3o passou de R$ 200 milh\u00f5es.<\/p>\n

A acelera\u00e7\u00e3o desse tipo de investimento deve acontecer porque a Previ alterou a sua pol\u00edtica recentemente e, a partir de agora, n\u00e3o exige mais a forma\u00e7\u00e3o de um comit\u00ea de investimento. Esse comit\u00ea, basicamente, influ\u00eda nas decis\u00f5es do gestor do fundo de private equity. Como as funda\u00e7\u00f5es t\u00eam uma barreira regulat\u00f3ria e s\u00f3 podem ter 25% do total do fundo, acabavam por n\u00e3o conseguir formar parcerias com investidores estrangeiros, que n\u00e3o exigem o tal comit\u00ea. Assim, a Previ ficava dependendo das outras funda\u00e7\u00f5es para fazer as aplica\u00e7\u00f5es. As outras funda\u00e7\u00f5es, por\u00e9m, foram agressivas em anos anteriores, desaceleraram o investimento nesse tipo de fundo, e a Previ ficou sem op\u00e7\u00e3o de parceiros, segundo explica o diretor de investimentos da Previ, Ren\u00ea Sanda.<\/p>\n

Hoje o fundo tem aplicado R$ 1,6 bilh\u00e3o em diferentes FIPs (fundos de investimentos em participa\u00e7\u00f5es). Esses fundos j\u00e1 aplicaram em empresas R$ 800 milh\u00f5es. A diferen\u00e7a pode ser explicada pelo fato de que o gestor do fundo de private equity ter at\u00e9 cinco anos para fazer o investimento, a partir do momento em que o dinheiro \u00e9 aplicado, e depois mais cinco para melhorar a empresa que adquirir e vend\u00ea-la.<\/p>\n

Nessa brincadeira, a Previ j\u00e1 colheu frutos, como o investimento que fez na empresa Abril Educa\u00e7\u00e3o, por meio do fundo BR Educacional. O desinvestimento ocorreu em 2011, quando a empresa abriu o capital. O resultado: em quatro anos, o dinheiro aplicado na empresa rendeu 30% em termos reais por ano, segundo Ren\u00ea Sanda, que participa hoje do maior evento de Private Equity da Am\u00e9rica Latina, em S\u00e3o Paulo, com mais de 600 investidores.<\/p>\n

E por falar em resultados, a Previ agora tamb\u00e9m espera os mesmos 30% por ano com a empresa Hortifruti, da qual s\u00f3cia por meio do FIP Brasil de Governan\u00e7a Corporativa. No ano passado, um novo s\u00f3cio entrou na empresa e, por isso, a Previ j\u00e1 consegue ter uma no\u00e7\u00e3o melhor do quanto a empresa j\u00e1 valorizou desde que entrou em seu capital. A Hortifruti tem hoje um dos maiores \u00edndices de venda por metro quadrado do varejo brasileiro comercializando frutas e verduras como se fosse uma grande feira. Da lista das empresas da qual \u00e9 s\u00f3cia por meio de fundos de private equity, est\u00e1 ainda o IRB, instituto de resseguros que foi privatizada, a Setebrasil, que fabrica navios sondas para a Petrobras e a Tecnoblu, uma empresa de aviamentos da cidade de Blumenau, Santa Catarina.<\/p>\n","protected":false},"excerpt":{"rendered":"

(Estadao) In 2014, the Previ, the pension fund for employees of Banco do Brazil, will have R$1b available to invest in private equity funds. The value is very significant. Since 2006, when Previ started to invest in smaller companies, the average annual contributions did not exceed R$200m.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"acf":[],"yoast_head":"\nPrevi Will Have R$1b for Private Equity Funds in 2014 - LAVCA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lavca.org\/previ-will-have-r1b-for-private-equity-funds-in-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Previ Will Have R$1b for Private Equity Funds in 2014 - LAVCA\" \/>\n<meta property=\"og:description\" content=\"(Estadao) In 2014, the Previ, the pension fund for employees of Banco do Brazil, will have R$1b available to invest in private equity funds. 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