PAX - Patria Investments divests two infrastructure portfolio investments for $1.4B

• Patria Investments ( NASDAQ: PAX ) stock gained 2% in Tuesday afternoon trading as the alternative asset manager agreed to divest of two of its infrastructure portfolio investments that's expected to generate $1.4B for in proceeds for investors in its Infrastructure Fund III .
• The divestments featured ODATA, a Brazilian data center service provider, and Entrevias, a toll road operator in Sao Paulo, Brazil.
• The move comes after Patria ( PAX ) said on December 1 it sold 55% of its stake in concession company Entrevias Concessionária de Rodovias to VINCI, a player in concessions, energy and construction.
• The $1.7B Infrastructure Fund III, which has invested in 10 portfolio companies, now has five active investments amid its divestment phase. As of September 30, the 2013 vintage fund has achieved a gross multiple of invested capital of 2.1x and a net internal rate of return of 13%, resulting in $127M of net accrued performance fees.
• In the beginning of December, Patria launched a new venture capital strategy .

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