Brazilian fund manager Pátria Investimentos has announced the close of its second infrastructure fund at $1.15 billion. The fund is jointly sponsored by Pátria and Promon, a Brazilian engineering consulting firm. The fund, named P2 Brasil Fund, will make investments in Brazil in transport and logistics, oil and gas infrastructure, and water and waste management and will target returns of at least 20 percent mainly through capital gains. The fund announced in a statement that it attracted commitments from corporate and public pension funds, endowments, family offices, funds of funds, and sovereign wealth funds from the United States, Canada, Europe, Asia and the Middle East. Forum Capital acted as the placement agent for the fund.

The P2 Brasil Fund has made two platform investments since its previous closing: it acquired control of NovaAgri, a provider of integrated rail-based infrastruc