By Brazil Stock Guide – Vivest, Brazil’s largest private-sector pension fund manager, will take over the pension plan of Volkswagen AG’s Brazilian unit, adding BRL 3.5 billion ($620 million) in assets and 18,257 participants. The transfer, scheduled for mid-2026, is the biggest of its kind ever carried out between closed pension entities in the country.
The deal will increase Vivest’s assets under management to about BRL 44.5 billion, further consolidating its position in the corporate pension sector, according to a report from Valor Econômico. In recent years, Vivest has absorbed the plans of Roche Holding AG (ROG.SW) employees in Brazil and secured the transfer of Alpargatas SA (ALPA4.SA), set to be completed in 2026. The company already manages the pension fund of Ford Motor Co. (F).
“This expansion strategy started in 2019 with the absorption of new plans,” said Walter Mendes, Vivest’s chief executive officer. Currently, the entity manages 25 pension plans covering 59,900 employees and retirees from 15 sponsoring companies.
Beyond pensions, Vivest is also a major player in healthcare. It is the largest self-managed health operator in São Paulo state, providing coverage to 116,000 beneficiaries. Founded as Fundação Cesp to serve Brazil’s electricity sector, the organization rebranded as Vivest in 2020.