Rio de Janeiro Pension Fund Secures Court Order to Recover R$481.5 Million

A Brazilian court in Rio de Janeiro ordered emergency measures to guarantee the full recovery of R$481.5 million invested by the state pension fund (Rioprevidência) in the Revolution Fund, which is managed by Master Corretora. The ruling blocks the assets of Acura Gestora de Recursos and its directors up to the amount, prohibits the fund manager from obstructing the rescue, and mandates an independent audit of the portfolio.

The rescue is scheduled for August 2026. This decision follows a previous order that froze assets worth R$135.1 million linked to the Texas I FIA fund, also under Master Corretora. Federal police are investigating the broader allocation of roughly R$3.7 billion in high‑risk products tied to Banco Master during Governor Cláudio Castro’s administration. The Revolution Fund currently holds about R$567.8 million, with Rioprevidência owning roughly 85% of it.