PBH Ativos

What PBH Ativos does

PBH Ativos S.A. is a municipal state-owned closed stock company (sociedade anônima de capital fechado) created in 2011 under Municipal Law 10.003/2010, headquartered in Belo Horizonte, Minas Gerais, Brazil. It is 99.999% controlled by the Municipality of Belo Horizonte, with the remainder held by PRODABEL (municipal IT company) and BHTRANS (municipal transit company). The company operates as a non-dependent state-owned entity, meaning it does not draw on the municipal treasury for personnel or operating costs, and instead funds itself through fees from project structuring mandates.

Its core business is structuring public infrastructure projects for government clients. Service lines include: (i) PPP and concession structuring (feasibility studies, legal and economic-financial modeling, bidding process support, contract monitoring); (ii) securitization of public receivables and debenture issuance; (iii) PPP guarantee mechanisms; (iv) real estate and land management (including 27 terrains, 20 contributed as social capital and 7 acquired in 2012); and (v) PBH Inova, a public-sector innovation program under Brazil's Startup Legal Framework (LC 182/2021). Named mandates span Hospital Metropolitano Doutor Célio de Castro, UMEI education PPPs, primary healthcare network, urban cleaning (SLU), public lighting, and a long-duration cooperation with COPASA for water/sewage services (R$170 million through 2032).

PBH Ativos sells exclusively to public-sector entities, primarily via direct engagement with municipal secretariats and through formal cooperation agreements and public tender processes. The technology stack is conventional enterprise software (TOTVS Protheus ERP, ECM/BPM for document management) rather than proprietary IP. Geographic reach, originally concentrated in Belo Horizonte, has expanded nationally, with the company now positioning itself as a partner to public administrations across Brazil. Headcount is in the 11-50 range, and the company is led by CEO Lucas Faveri with executive director Roberta Roletti.

Name

PBH Ativos

Legal name

PBH Ativos S.A.

Website

https://pbhativos.com.br

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

PBH Ativos is a municipal state-owned company, 99.999% owned by the Municipality of Belo Horizonte, that structures public-private partnerships, concessions, securitization, and real estate management for Brazilian public-sector clients, primarily municipal governments.

Ownership category

akta.pro rank

Product category

Public Infrastructure Advisory Services

NAICS

Public Administration (92), Executive, Legislative, and Other General Government Support (921), Administration of Housing Programs, Urban Planning, and Community Development (9251), Nondepository Credit Intermediation (5222)

akta.pro primary industry

Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory (BPAJANAL)

akta.pro secondary industries

Real Assets — Social Infrastructure / PPP (Schools, Hospitals, Government Facilities) (FSAHAIAH), Public-Private Partnerships (PPP) in Education (EDADALAD)

Keywords

• Public infrastructure projects
• Public-private partnerships
• Concession structuring
• Receivables securitization
• Municipal asset management

Headquarters

HQ city

Belo Horizonte

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Public Project Structuring Services: PBH Ativos provides specialized technical services for structuring public-private partnerships, concessions, and infrastructure projects. The company operates as a non-dependent state-owned entity, not receiving municipal resources for personnel or operating costs. Revenue is generated through service fees related to project structuring, securitization operations, and asset management for the public sector.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PBH Ativos is a municipal state-owned company that provides specialized technical services for structuring public infrastructure projects, public-private partnerships (PPPs), and concessions for government entities—primarily the Municipality of Belo Horizonte. Its offerings span feasibility studies, economic-financial and legal modeling, contract support and monitoring, securitization of public receivables, debenture issuance, PPP guarantee mechanisms, and real estate asset management. The company also runs the PBH Inova innovation program supporting public sector innovation.

Product overview

PBH Ativos is a state-owned company (sociedade anônima de capital fechado) that provides a portfolio of services focused on structuring public infrastructure projects and public-private partnerships (PPPs) for the Municipality of Belo Horizonte, Brazil. The core offerings include: (1) Estruturação de Concessões e PPPs - the structuring of PPPs and concessions including feasibility studies, legal/financial modeling, and contract monitoring; (2) Securitização e Debêntures - securitization of receivables and debenture issuance for public funding; (3) Garantias para PPPs - guarantee mechanisms for PPP contracts; (4) Gestão Imobiliária - real estate and land management; and (5) PBH Inova - innovation programs supporting public sector innovation. Created in 2011, the company operates under municipal government control with 99.999% ownership by Belo Horizonte, and now serves entities throughout Brazil.

Differentiator

Problem solved

Functional benefit

Products and services

• Estruturação de Concessões e PPPs (Concession and PPP Structuring)
• Securitização e Debêntures (Receivables Securitization and Debentures)
• Garantias para PPPs (PPP Guarantees)
• Gestão Imobiliária (Real Estate Management)
• PBH Inova (Innovation Program)

Named customers5 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core, supporting and minor.

• Município de Belo HorizontecoreStrategic or Co-development PartnerThe Municipality of Belo Horizonte is the majority shareholder of PBH Ativos, holding 99.99950713% of shares. The company was created by municipal law and serves as the strategic partner for the municipality in structuring public infrastructure, PPPs, and concessions. All major projects are developed in partnership with municipal secretariats.
• PRODABEL (Empresa de Informática e Informação do Município de Belo Horizonte)supportingTechnology or IntegrationPRODABEL is a minority shareholder (0.00024506%) and provides IT and information technology services to PBH Ativos, including infrastructure management, technical support, and system maintenance.
• BHTRANS (Empresa de Transporte e Trânsito de Belo Horizonte S.A.)supportingTechnology or IntegrationBHTRANS is a minority shareholder (0.00024781%) and collaborates on transportation and transit-related concession and PPP projects in Belo Horizonte.
• COPASA (Companhia de Saneamento de Minas Gerais)minorStrategic or Co-development PartnerCooperation agreement for shared management of water supply and sanitation services in Belo Horizonte, valued at R$170 million, valid until 2032. PBH Ativos provides technical support and project structuring for this public service concession.
• Secretaria Municipal de Saúde (SMSA)coreStrategic or Co-development PartnerTechnical cooperation for PPP management in healthcare, including Hospital Metropolitano and Primary Healthcare Network (UBS) concessions. Total cooperation value of R$6.4 million.
• Secretaria Municipal de Educação (SMED)coreStrategic or Co-development PartnerTechnical cooperation for education PPP management, including UMEI (municipal school) PPPs for construction and support services.
• Superintendência de Limpeza Urbana (SLU)coreStrategic or Co-development PartnerCooperation for urban cleaning concession structuring and management, including sanitary landfill services and solid waste management.
• FUNDAÇÃO INSTITUTO DE PESQUISAS ECONÔMICAS (FIPE)supportingImplementation/ SI/ Consulting PartnerContract for specialized consulting services for economic, financial, and institutional evaluation of water and sewage services in Belo Horizonte, valued at R$1.875 million.
• Russell Bedford GM Auditores IndependentessupportingImplementation/ SI/ Consulting PartnerIndependent auditor for financial statement audits, conducting audits in accordance with international auditing standards and CVM regulations.
• TOTVSsupportingTechnology or IntegrationEnterprise software licensing and maintenance for Protheus ERP system covering HR, Finance, Budget, Procurement, Contracts, Accounting, and Asset Management modules.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Falconi: Brazilian-origin management consulting firm with a meaningful public-sector practice. Comparable as a domestic competitor for government infrastructure and operational advisory mandates.
• BNDES: Brazilian National Development Bank — the largest public infrastructure financier in Brazil and a direct comparator as a public-sector institution structuring PPPs, concessions, and project finance for municipalities and states.
• Caixa Econômica Federal: Brazilian federal savings bank with an active infrastructure and urban development PPP practice. Comparable as a public bank with PPP structuring capabilities targeting municipal and state counterparties.
• KPMG (Brazil Infrastructure & PPP): Big 4 firm with infrastructure and government advisory practice in Brazil. Comparable as a competitor for PPP structuring, feasibility studies, and contract support for public-sector clients.
• Roland Berger (Brazil): European-origin strategy consultancy with an active Brazilian public-sector and infrastructure practice. Comparable in the PPP/infrastructure advisory space targeting government clients.
• EY (Brazil Infrastructure Advisory): Big 4 firm with an active infrastructure and PPP advisory practice in Brazil. Comparable on target market (public-sector clients) and service offerings around project structuring and financial modeling.
• Deloitte (Brazil PPP & Infrastructure Advisory): Big 4 firm with a substantial Brazilian public-sector and infrastructure practice. Directly comparable as a competitor for high-complexity PPP structuring mandates for municipal and state clients.

Emerging players

• International Finance Corporation (IFC): World Bank Group member providing infrastructure advisory and PPP structuring globally, including in Brazil. Comparable on PPP mandate scope and public-private partnership advisory services.
• Vinci Partners: Brazilian alternative asset manager with an infrastructure investment franchise. Comparable as a participant in Brazil's PPP/infrastructure ecosystem, though positioned as investor rather than pure structurer.

Broad incumbents

• McKinsey & Company (Public Sector Practice, Brazil): Global strategy consultancy with a Brazil public-sector practice. Comparable as a competitor for high-end government infrastructure strategy mandates, though operating from a much broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pbh-ativos-s-a

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PBH Ativos