(Dow Jones) February 14, 2012 – Brazilian investment fund Patria Investimentos has bought a 50% stake in electric power trading firm Capitale Energia for an undisclosed amount.
Capitale reported revenue of 215 million Brazilian reais for 2011, with sales of 3,240 GWh, Patria said in a statement.
The energy trading market in Brazil has grown rapidly in recent years, and is now worth $10 billion per year, but still has plenty of room to grow, the firm said.
Capitale recently joined 11 other energy trading companies to create a new energy trading platform, BBCE.
Daniel Rossi and Rafael Mathias, the current owners of Capitale, will remain as partners and also remain in charge of management.
Patria has some BRL10 billion in assets under management.
By Matthew Cowley