U.S. Markets closed

Brazil's Patria to inject $126 mln into gym operator Smartfit

RIO DE JANEIRO, May 31 (Reuters) - Brazilian private equity firm Patria Investimentos will inject roughly 500 million reais ($126 million) into Smartfit Escola de Ginastica e Danca SA by purchasing new and existing shares in the gym operator.

In a securities filing on Friday, Smartfit said Patria, in which U.S. private equity firm Blackstone Group LP has a stake, had agreed to purchase new shares to be issued by the firm and to purchase stakes from existing shareholders.

It did not give a timeline for the transaction.

($1 = 3.98 reais) (Reporting by Gram Slattery Editing by Chizu Nomiyama)