Brazilian 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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