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Patria Makes US$126m Follow-on Investment in Smartfit

31 May 2019

Patria Investimentos will purchase newly issued shares and shares from existing shareholders in a follow on investment worth US$126m. Patria acquired a majority stake in Smartfit in 2010.

As of June 20th, according to PEHub, San Francisco Employees’ Retirement System co-invested $25m of the $126m into Smartfit with Patria. Read more at PEHub

(Reuters) Brazilian private equity firm Patria Investimentos will inject roughly 500 million reais ($126 million) into Smartfit Escola de Ginastica e Danca SA by purchasing new and existing shares in the gym operator.

In a securities filing on Friday, Smartfit said Patria, in which U.S. private equity firm Blackstone Group LP has a stake, had agreed to purchase new shares to be issued by the firm and to purchase stakes from existing shareholders.

It did not give a timeline for the transaction.