(Dow Jones) October 18, 2011 – Gavea Investimentos, Brazil’s largest investment fund with about $7.5 billion under management, acquired a minority stake in local largest rice producer Camil Alimentos for an undisclosed amount, reported in its Tuesday edition the local newspaper O Estado de S. Paulo.

Gavea, which is controlled by JPMorgan Chase & Co. (JPM) and is headed by former Banco Central do Brasil President Arminio Fraga, bought a 31.75% stake in Camil Alimentos, it said.

It didn’t specify where it got the information.

Camil is expected to post revenues worth 1.8 billion Brazilian reais ($1.02 billion) this year.

Gavea and Camil officials weren’t immediately reachable for comment.

By Rogerio Jelmayer, Dow Jones Newswires