Previ: PPPs can't rely on pension funds for financing

Brazil's pension funds are not necessarily going to be the main sources of funding for the country's Private-Public Partnerships (PPPs), local news agency Agência Estado quoted Sergio Rosa, president of Brazil's largest pension fund Previ, as saying. The PPPs are set to facilitate cooperation between the public and private sectors in teaming up to undertake large-scale projects. "We're going to look at PPPs as we do any other investment. To think that funds are going to be the big investors in the projects is an equivocal idea," Rosa said. In December, local insurer SulAmérica's executive VP Hélio Novaes said the Brazilian insurance industry was interested in using its private pension and life insurance assets to invest in the PPPs. However, Novaes also said that the insurance industry would only be interested in providing financing for the PPPs if they guaranteed a satisfactory investment return.