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Patria raises $111m for third Brazil fund

by Andrea Waitrovich

Brazilian firm Patria Investments has raised $111 million for its Brazilian real estate fund, Patria Brazil Real Estate Fund III, according to a filing with the SEC. 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, according to Institutional Real Estate, Inc.'s FundTracker database.

In 2010 Patria forged a formal partnership with The Blackstone Group, which purchased a 40 percent interest in the firm.

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