(Dow Jones) November 18, 2011 – Brazilian asset manager Gavea Investimentos has raised $1.9 billion for its fourth private equity fund, the Valor Economico newspaper reported on Friday.

About one-third has already been invested in buying stakes in four companies: car rental agency Unidas, oil and gas operator Odebrecht Oleo e Gas, food company Camil Alimentos and men’s clothing company Camisaria Colombo.

Gavea had planned to raise between $1.2 billion and $1.4 billion, according to the report.
Highbridge Capital Management LLC, a unit of JPMorgan Chase & Co. (JPM), owns a majority stake in Gavea.

Gavea Investimentos wasn’t immediately available for comment.

By Matthew Cowley