By Brazil Stock Guide – Itajubá Administração Previdenciária, known as IAP, has completed the transfer of the pension fund of Pfizer Brazil, boosting the administrator’s total assets under management to more than R$16.5 billion. The transaction strengthens IAP’s position in Brazil’s corporate pension market as it expands its portfolio of sponsored retirement plans.
The integration brings the Pfizer Prev plan under the management of Itajubá Fundo Multipatrocinado, one of the pension vehicles overseen by IAP. With the addition, the firm now serves about 110,000 participants across roughly 50 pension plans linked to 80 sponsoring companies, more than three-quarters of them multinationals.
The transfer process took about three years and was completed without any impact on the plan’s 1,750 participants or on its sponsor, Pfizer Brazil, a unit of Pfizer Inc. (PFE US). Throughout the transition, the fund underwent legal, actuarial, governance and investment reviews in line with requirements set by Brazil’s pension regulator, Previc.
IAP said the deal is part of a broader expansion strategy centered on operational efficiency, innovation and a diversified range of pension solutions. In a statement, Roberto Chateaubriand, partner and chief executive officer of IAP, said the company aims to reach R$50 billion in assets under management within five years, positioning itself among the country’s leading private pension administrators.
Carlos Tejeda, partner and managing director at IAP, said the focus is to strengthen Pfizer Prev, which has been operating since 1999, by adding specialized technical and technological support. “Our objective is to strengthen Pfizer Prev with dedicated expertise, including account administration, benefit payments, reporting and regular monitoring by specialized professionals,” he said. According to Tejeda, participants will also gain access to exclusive service channels, upgraded systems and new features designed to improve pension management.