Business & Finance
Business and Finance
Business and Finance
Thu, September 30, 2010
Wed, September 29, 2010 
NEW YORK & SAO PAULO--([ BUSINESS WIRE ])--The Blackstone Group (NYSE: BX) and Patria, Brazila™s leading alternative asset manager, today announced a partnership in which Blackstone would purchase a 40% stake in Patria and the two firms would agree to cooperate in building their businesses in Brazil and throughout South America.
Commenting on the agreement, Stephen A. Schwarzman, Chairman and CEO of Blackstone, said: aWe have known and respected Patria, whose business parallels ours in so many respects, for over ten years. Brazil is the largest economy in Latin America and growing rapidly. Partnering with Patria will enable Blackstonea™s limited partners and advisory clients to benefit from the fast expanding business opportunities in the country, as well as fromPatria's deep knowledge of the local market. 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.a
Luiz Otavio Magalhes, founding partner and CEO of Patria, remarked that awe are very pleased to announce this agreement. It represents one of the most significant partnerships to be established in Brazila™s financial industry. We are delighted to be working closely with Blackstone, whose core values we share. Patriaa™s clients will benefit from Blackstonea™s global network for both investment opportunities and corporate advice.a
The transaction is expected to close on October 1st, 2010.
About Blackstone
Blackstone is one of the worlda™s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds,credit-orientedfunds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at [ www.blackstone.com ].
About Patria
Ptria Investimentos, one of Brazila™s largest differentiated investment management and corporate advisory firms, has built throughout its history a solid reputation in the market by creating value for its clients and business partners. Ptria pioneered the private equity industry in Brazil, gradually expanding its portfolio with the creation of new businesses like real estate, capital management and infrastructure. Currently, Ptria has one of the most diversified portfolios of alternative investment in the country, also providing a vast range of services in financial and corporate advisory. Additional information is available at [ www.patriainvestimentos.com.br ].
