Brazil-based  alternative investment management firm Pátria Investimentos and global investment and advisory firm Blackstone plan to acquire a 40 percent stake in Brazilian footwear manufacturer Vulcabras for BRL500 million (approximately US$245 million). Vulcabras produces the Azaleia and Olympikus shoe brands and has operations throughout South America. In 2010, Blackstone acquired a 40 percent stake in Pátria Investimentos, whose fourth private equity fund closed in August 2011 with US$1.25 billion in commitments.