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Brazilian investment firm P2 Brasil has announced that it has raised US$407 million for its P2 Brasil Private Infrastructure Fund III in a filing with the SEC.
P2 Brasil doesn't invest in public infrastructure projects like toll roads or highways. Instead, the fund will focus on transportation and logistics, oil and gas infrastructure, and water and waste management that mainly serves the corporate sector.
The new fund will have a duration of 14 years, according to sources.
In August 2011, P2 Brasil raised $1.155 billion for its second fund, the P2 Brazil Private Infrastructure Fund II, after a 18-month fundraising effort. This was up from the $1 billion target.
Pátria Investimentos and Promon are the two sponsors of P2Brasil.
Pátria Investimentos is a pioneer in private equity in the brazilian market. Currently, Pátria has one of the most diversified alternatives investment portfolios in the country and more than U$5 billion in assets under management.
Promon provides integrated engineering, procurement and construction management solutions to a variety of local and multinational clients in various infrastructure related sectors. Since its inception, Promon has been involved in approximately 400 infrastructure related projects.
The firm is recognized for its project management and engineering skills, the high qualification of its professional team, and the associative capacity of combining its competencies with leading partners on specific business fields.