Brazil pension fund Previ to invest in upcoming share offerings [Reuters]
CPFL ENERGIA (CPL)
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Source: Reuters
Brazil pension fund Previ to invest in upcoming share offerings - Reuters 3 Min Read SAO PAULO, May 28 (Reuters) - Brazil’s largest pension fund Previ intends to be an active investor in a series of upcoming share offerings as part of an effort to diversify its portfolio, its Chief Executive Jose Mauricio Coelho told Reuters. Brazilian companies such as Petrobras Distribuidora SA , software producer Linx SA, Banco BTG Pactual SA and utility CPFL Energia SA, among others, plan to sell shares over the next two months, as investors bet a pension reform will be approved by year-end, accelerating economic growth. Previ, which manages the pensions of Brazil’s state-controlled lender Banco do Brasil SA and has nearly 200 billion reais ($51.80 billion) in assets, declined to name the companies it is targeting. The fund intends to buy up to 10% of shares offered by companies individually, but not a stake higher than 2%, Coelho said. More than 90% of Previ’s equity portfolio is concentrated in
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