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Advent International Corp., the Boston-based private-equity firm, will invest in Cataratas do Iguacu SA, the concessionaire operating the park surrounding the Iguazu waterfalls in South America.
The firm, which has more than $32 billion in assets under management, agreed to provide additional capital for the growth of the concessionaire, according to an e-mailed statement today, and the deal is expected to close this year. Terms of the investment weren’t disclosed.
Advent will buy 49.99 percent of Cataratas do Iguacu, as the waterfall is spelled in Portuguese, through two vehicles: Brasil Turismo Entretenimento 2014 Participacoes SA and Brasil Parques Naturais 2014 Participacoes SA, according to a filing dated Aug. 19 recently posted on the website of the Brazilian antitrust body, known as Cade.
Cataratas do Iguacu also operates concessions at Parque Nacional Marinho Fernando de Noronha, an island park off of Brazil’s northern coast.
The Iguazu park runs along the Brazil-Argentina border and attracted 1.2 million tourists in 2010, according to the company’s website. The park was named a World Natural Heritage Site by the United Nations’ Unesco division in 1986, the website shows. The waterfall is about 80 meters high (263 feet), according to Unesco.
Officials for Cataratas didn’t respond to an e-mail seeking comment, while Advent declined to comment beyond its statement.
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