International Finance Corporation (IFC), the private sector development arm of the World Bank Group, has committed BRL60 million (approximately US$29 million) to Gávea Crédito Estruturado FIDC, a private credit fund managed by Brazilian asset management firm Gávea Investimentos. The fund will provide long-term superior, mezzanine subordinated and junior subordinated debt to companies in Brazil, drawing the capital from institutional investors such as pension funds, insurance companies and asset management firms.