(Alt Assets) Infrastructure-focused private equity investor P2Brasil is reportedly raising a new fund. The firm, which is a joint venture between Promon Engenharia and Patria Investimentos, is seeking at least $1bn for the vehicle, said Dow Jones, citing people with knowledge of the process.

Investment firm GP Investments has been talking about raising an infrastructure fund and could also look to raise a similar amount for its own fund, several sources familiar with its plans told the publication.

Earlier this year it was reported that Brazilian infrastructure investor Mantiq Investimentos was looking to raise $500m for its new fund.

Speaking to Fox Business, fund manager Marcos Matioli said he had seen increased demand from foreign investors in the past 12 months.

He added that the Brazilian government “was creating clear advantages” for infrastructure investments to take place.