Brazil Sovereign Fund
From Taighde
| Brazil Sovereign Fund | |
|---|---|
| Country: | Brazil
|
| Origin: | Oil
|
| Assets: | $8 billion
|
| Reports | Sovereign Wealth Funds Contact and Information Report |
The Brazil Sovereign Wealth Fund (FSB) is the Sovereign Wealth Fund for Brazil. The fund is being capitalized with revenue from the state's oil production.
The first transfer of funding was done in December 2008 for $8 billion. The SWF will be used to invest in local companies but also to invest in non-energy international companies. Brazil's finance minister has said the SWF might be used to support Brazil's currency.
Fiscal Fund for Investment and Stabilization
The Fiscal Fund for Investment and Stabilization is department within the FSB is expected to loan and make direct investments in banks in Brazil. The Fiscal Fund made their first investment in June 2010. It purchased 21.85 percent of the new shares that were issued by the Banco do Brasil.
Petrobras
The FSB holds a large stake in Petrobras. The stake makes up 80% of the fund's total assets.[1]
