Patria marketing third Brazilian real estate fund
Brazilian firm Patria Investments has a third Brazilian real estate fund, Patria Brazil Real Estate Fund III. The fund has raised $20 million, according to a filing with the Securities and Exchange Commission. A fundraising target was not disclosed. The firm closed Patria Brazil Real Estate Fund II in 2011 with $550 million in equity commitments, surpassing its $400 million fundraising goal. Patria is an investment firm with $6.5 billion in assets under management and investments in private equity, infrastructure and real estate. Patria formed a partnership with The Blackstone Group in 2010; Blackstone holds a 40 percent interest in Patria.