RIO BRAVO ESG INVESTIMENTO SUSTENTAVEL FIC FI INFRA — An infrastructure investment fund (FI-Infra under Law 12,431/2011) managed by Rio Bravo Investimentos, focused on Brazilian infrastructure debentures with tax incentives, ESG (Environmental, Social, Governance) integration, and the IS (Sustainable Investment) label in credit analysis.
Segment: FI-Infra · Multi-sector ESG (renewable energy + sanitation + transmission + transport) · Price R$ 76.39 · P/BV 0.8736 · BV/unit R$ 87.44 · Net assets R$ 75,88 Mi · 1,751 unitholders
RBIF11 (Rio Bravo ESG IS FIC FI-Infra) is a Brazilian REIT in the FI-Infra · Multi-sector ESG (renewable energy + sanitation + transmission + transport) segment. RIO BRAVO ESG INVESTIMENTO SUSTENTAVEL FIC FI INFRA — An infrastructure investment fund (FI-Infra under Law 12,431/2011) managed by Rio Bravo Investimentos, focused on Brazilian infrastructure debentures with tax incentives, ESG (Environmental, Social, Governance) integration, and the IS (Sustainable Investment) label in credit analysis.
Niche entry for small retail investors prioritizing ESG criteria—constrained by scale (R$ 76M net assets) and liquidity (R$ 173k/day)
This page gathers the factual snapshot of RBIF11 in 2026: what the fund is, what it invests in, what it charges, who manages it and how it got here. Opinion, score and recommendation live in the analysis; payout calendar and projections live in dividends.
Management: Rio Bravo Investimentos Ltda..
Rio Bravo Investimentos is an independent asset manager founded in 2000, with R$ 14.1 billion under management and a 25+ year track record. Its real estate credit product family includes RBHG11 (High Yield), RBHY11 (Yield), and RBIF11 (ESG FI-Infra); it also manages prominent brick-and-mortar REITs (RBVA11, RCRB11, RBRS11, TRBL11, RBFM11). In Mar/2025, it acquired JPP Capital, expanding its structured credit operations. RBIF11's differentiator: integrates ESG (Environmental, Social, Governance) criteria and the IS (Sustainable Investment) label into the fundamental credit analysis of incentivized debentures — a niche positioning in a market dominated by generalist vehicles. Limitation: public disclosure of management reports is inferior to Sparta, Kinea, BTG — the official website blocks scraping (HTTP 403).~90% in multi-sector ESG incentivized debentures + ~10% cash/fixed income
| Asset | Location | % of NAV | Occupancy |
|---|---|---|---|
| Aggregated portfolio of incentivized debentures — renewable energy (wind/solar/hydro) | — | 35.0% | — |
| Aggregated portfolio of incentivized debentures — sanitation (water/sewage/solid waste) | — | 20.0% | — |
| Debentures from energy transmission concessionaires | — | 13.0% | — |
| Debentures for BRT, subway, electrified rail | — | 10.0% | — |
| Fiber optics and towers with ESG criteria | — | 7.0% | — |
| Toll road concessionaires with ESG footprint | — | 5.0% | — |
| Repo agreements, LFTs, and fixed income funds for liquidity | — | 10.0% | — |
HHI 0.21 — moderada.
| Breakdown | Share |
|---|---|
| By index | IPCA+ 82.0% · CDI 13.0% · Pre-fixado 5.0% |
Fund's P/BV.
last close R$ 76.39 · all-time low R$ 61.73 · high R$ 118.33 · book value per unit R$ 87.44.
Average daily volume (21 sessions) of R$ 173,000 · 12-month average of R$ 180,000.
CRITICAL liquidity. A R$ 10k position exits on the same day; R$ 100k takes 1 business day without moving the price. R$ 500k+ requires 3+ split business days. R$ 1M+ is unviable without moving the price significantly. Typical retail investors (R$ 10k-30k) trade without friction; above that, the bottleneck appears quickly.
| Period | What happened |
|---|---|
| REGISTRO CVM / IPO | Launch of RBIF11 on B3 as Rio Bravo's ESG IS FI-Infra focused on incentivized debentures with environmental, social, and governance screening. |
| FASE INICIAL DE CAPTACAO | Initial fundraising amid rising Selic rates (13.25-13.75%). ESG portfolio construction. |
| CONSOLIDACAO DA CARTEIRA | Stabilization of the multi-sector composition with ESG filtering. Gradual decline in Selic rates (from 13.75% to 11.75%). |
| ANO DE TRANSICAO | Performance not explicitly reported by sources for this year — likely a negative or neutral year between 2023 (+7.48%) and 2025 (+27.15%). |
| ANO RECORDE +27,15% | Best year since IPO. Recurring DPU rises to R$ 0.95-0.97/month with an extra event in Dec/25 (R$ 1.80). |
| PATAMAR ATUAL | Maintenance of recurring DPU at R$ 0.93-0.97. Unit price near 52-week high (R$ 78.40). |