Blackstone Takes Stake In Brazilian Alternative Investment Manager

Sep 30 2010 | 8:45am ET

The Blackstone Group is expanding its footprint in Latin America with the purchase of a 40% stake in a Brazilian alternative asset manager.

Blackstone announced today that it took a minority stake in Patria, and together the two firms would work to build their businesses in Brazil and throughout South America.

The transaction is expected to close on Oct. 1. Details of the deal were not disclosed by either firm, but Brazilian newspaper Valor Economico is reporting that Blackstone paid $200 million for the stake.

“Partnering with Patria will enable Blackstone’s limited partners and advisory clients to benefit from the fast expanding business opportunities in the country, as well as from Patria's deep knowledge of the local market," said Stephen Schwarzman, chairman and chief executive officer of Blackstone. "We envisage us both taking advantage of a wide spectrum of opportunities ranging from financial advisory services to real estate, private equity, capital management and infrastructure”

Luiz Otavio Magalhães, founding partner and CEO of Patria, added that “we are very pleased to announce this agreement. It represents one of the most significant partnerships to be established in Brazil’s financial industry. We are delighted to be working closely with Blackstone, whose core values we share.”


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note