Brazilian federal savings bank Caixa Economica Federal (CEF), the country's second largest public bank in terms of assets, has announced the launch of its first debt infrastructure fund.

According to a press release issued by the bank, the company intends to raise R$ 100 million (around US$42 million) from qualified investors through investments bigger than R$1 million.

The new fund, which will be called Caixa FI Crédito Privado Renda Fixa Infraestrutura I, will dedicate the funds raised to assets that benefit from the fiscal incentives derived from law 12.431/2011. This bill concedes incentives to investments in infrastructure, specially to debentures used in infrastructure projects.

The fund started raising funds on Dec. 18th, 2013 and will finish on June 16th, 2014.

Cassio Viana, manager of Special Investment Funds at Caixa, said in the press release:

"The new fund will allow investors to contribute to national growth given that the resources will be dedicated to roads, ports, railways, airports, telecom and energy."

Banco Bradesco S/A will be the custodian bank and E&Y will audit the fund.

Caixa manages investments that amount more than R$ 453 billion (US$190 billion) from third parties. It is the fourth biggest asset manager in Brazil.