The firm did not disclose the financial terms of the deal.
The company operates the Iguacu national park and the Iguacu waterfalls, providing services including tickets, tours and transport.
Advent also noted that Cataratas do Iguacu also owns a stake in the Tijuca National Park, which is among the world’s largest urban forests.
Earlier this month it was reported that Advent had launched a Latin American fund with a $2bn target.
Advent held the final close for the previous vehicle in the series on $1.65bn in 2010 and its fourth fund closed on $1.3bn in 2007.
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