Brazil’s National Development Bank (BNDES) has picked local asset management fund Vinci Partners to manage its R$500m ($162m) local-currency sustainable energy fund, which aims to kick-start a local green bond market.
With some R$20bn in managed assets, experience in monitoring infrastructure projects and a portfolio of around 60 institutional investors, Vinci Partners was one of several “high technical quality” proposals the bank received, BNDES said in a statement, without citing which other companies bid.
