Blackstone-backed Brazil infra fund collects $170m

The P2 Brasil Private Infrastructure Fund II is being raised by Brazilian alternative asset manager Pátria Investments, which is 40% owned by the Blackstone Group.

Blackstone Group-backed Pátria Investments has collected $170 million for its second Brazilian infrastructure fund, according to regulatory filings.

The P2 Brasil Private Infrastructure Fund II raised $70 million, according to a filing the firm made with the Securities and Exchange Commission. The date of the first sale of the fund was 29 December 2010, according to the filing. A feeder fund, P2 Brasil Private Infrastructure II Feeder, also raised $100 million, with a first date of sale of 7 February 2011, according to a separate filing.

New York-based Forum Capital Securities is the placing the funds, according to the filings.

Pátria, a Brazilian firm in which Blackstone bought a 40 percent stake in October, partnered with infrastructure developer Promon to found P2Brasil, which invests in logistics and transportation, oil and gas, water and sanitation, and power transmission and distribution.

Patria closed its first infrastructure fund on $1.5 billion and has recently been in the market raising the second fund, which will have “a broad mandate for infrastructure throughout Brazil”, Blackstone said in its annual report filed with the Securities and Exchange Commission.

Overall, Pátria has $4.3 billion in assets and manages infrastructure, private equity, real estate and hedge funds, Blackstone said in its annual filing.

Separately, Blackstone has also been raising its own infrastructure fund, Blackstone Infrastructure Partners, which is targeting up to $2 billion in total commitments.