Patria Investments draws in more than $809m for fourth infra fund


Patria Investments has raised more than $809m of capital for its latest infrastructure-focused fund.

The firm has registered commitments from 10 limited partners for Patria Infrastructure Fund IV, according to an SEC filing published last week.

The firm has not revealed a target for Fund IV, but indicated in the filing that it expected the fundraise to continue into 2020.

Patria’s infrastructure arm is focused on assets located in Brazil and other select Latin American countries.

In October last year, the firm used Patria Infrastructure Fund III, to sell a 10 per cent equity stake in its Brazilian data centre provider ODATA.

The firm’s other portfolio investments include fertilizer company Agrichem, water desalination platform Aguas Pacífico, and renewable energy business LAP.

Patria is reportedly planning to sell power company Argo at a valuation of up to $1.5bn.

For the last 30 years, Patria has built businesses in the infrastructure, real estate, credit, agribusiness and PIPE sector. Buyout major Blackstone owns a 40 per cent in Patria, which it bought in 2010.

Copyright © 2019 AltAssets

Get the latest PE News & Research delivered to your inbox every morning