Brazilian private equity firm Patria Investimentos is within a whisker of its $1.5bn target for its latest buyout fund.
The firm, which is Blackstone’s major partner in the region, has pulled in just over $1.4bn for the fund to date according to a filing with the US Securities and Exchange Commission.
It shows that 81 LPs have committed to Patria Brazilian Private Equity Fund V.
The filing does not reveal whether Patria has closed the fund, and the firm did not respond to a request for more information.
Patria is also raising a $1.5bn-targeting real estate fund targeting the region, which passed the halfway point earlier this month.
Park Hill Group is acting as a placement agent for both funds.
Patria is backed by global investment house Blackstone Group, which acquired a 40 per cent stake in 2010.
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