Patria Investimentos passes halfway mark for latest real estate fund


rioBrazilian private equity firm Patria Investimentos has passed the halfway mark for its latest real estate fund, according to regulatory filings.

Patria Brazilian Private Equity Fund V has raised $756.8m from 66 LPs via its main vehicle and a feeder fund, the filings showed.

Park Hill Group is acting as a placement agent for the fund, which registered its first commitment last month.

It was previously reported that the fund is targeting $1.5bn, which would make it larger than the firm’s $1.25bn fourth real estate vehicle raised in 2011. It was nearly twice the size of its third fund, which was closed on $630m in 2008.

The firm is backed by global investment house Blackstone Group, which acquired a 40 per cent stake in 2010.

Patria Investimentos was recently reported to be looking to capitalise on a telecommunications building boom in Brazil, investing in five tower builders.

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