The National Bank for Economic and Social Development (BNDES) has pre-selected eight proposals in its public call for a BRL2.5 billion (US$489million) investment in up to five infrastructure funds in Brazil.
The initiative seeks to accelerate private investment in infrastructure and facilitate long-term improvements in the quality of services in the sectors, such as logistics and transport, energy, urban mobility, basic sanitation and telecommunications.
The top five proposals selected by BNDES are:
- Vinci Climate Change FIP Multiestratégia
- FIP BTG Pactual Infraestrutura III
- FIP Kinea Equity Infra I for the Equity Funds modality (intended to invest mainly in equity interests, subscription, debentures convertible into shares, or other securities convertible into shares issued by corporations, public or private)
- Pátria Infra Crédito FIDC
- Vinci FI-Infra RF for the Credit Funds modality (intended to invest exclusively in simple debentures and/or other credit rights)
All five funds will undergo managerial and legal due diligence in order to examine whether the proposals are viable and comply with the current regulations. During this process, the funds may attract other private investments. The BNDES' participation in each selected fund will be limited to BRL500 million (US$97.98 million). It is estimated that another BRL5 billion (US$979.8 million) of private capital will be mobilized for these infrastructure funds, reaching around BRL7.5 billion (US$1.46 billion) in investments.
