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Brazil’s Pátria Investimentos Raises US$484m Towards 6th Fund

16 January 2018

Brazilian private equity firm Pátria Investimentos, owned in part by Blackstone Group, has raised at least US$484m toward its sixth private equity fund.

(Press Release) Pátria Investimentos, the Brazilian alternative asset manager partially owned by Blackstone Group LP, has raised $484.2 million for its sixth private-equity fund, according to a filing with the U.S. Securities and Exchange Commission.

The SEC filing didn’t disclose a target for the fund, Pátria Private Equity Fund VI LP. A spokesman for Pátria declined to comment.

The firm closed its previous fund at $1.8 billion in 2014, more than its $1.5 billion initial target, according to Dow Jones & Co. data provider LP Source.

Pátria helped pioneer the private-equity industry in Brazil. Originally known as Patrimônio Planejamento Financeiro, it was founded in 1988 with the backing of U.S. investment bank Salomon Brothers. Blackstone bought a 40% stake in the firm in 2010 to strengthen its position in the Brazilian market.

Pátria invests in a wide range of sectors, with a focus on “identifying bottlenecks in the supply of basic needs of the population of Brazil and other Latin American countries”, the firm’s website says.
Recent private-equity deals include investments in storage company Kipit Ltda, which was merged last March with portfolio company Guarde Aqui Ltda. In 2016 Pátria bought Pare Bem Ltda, which runs parking facilities.

As well as private equity, the firm invests in real estate and infrastructure. Last year it won contracts to operate highways and power transmission lines.