Deals
Brazil Buyout Fund GP Gets $510 Million as Investments Triple
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GP Investments Ltd., the private-equity firm founded by Brazil’s richest man, got $510 million for its No. 5 fund by selling two companies this month at almost triple the amount originally invested.
The fund said it will get $260 million for its 46 percent stake in Sascar Participacoes SA, which specializes in technology for recovering stolen cars, and $250 million for its 41 percent share of BR Towers SA, a mobile-phone infrastructure company. French tire-maker Michelin bought Sascar and Boston-based American Tower Corp. acquired BR Towers.