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Singapore's GIC buys stake in Brazilian gym chain Smartfit

Reuters  |  SAO PAULO 

SAO PAULO (Reuters) - Singapore's sovereign wealth fund GIC is investing 100 million reais ($27.9 million) in Brazilian gym chain Smartfit Escola de Ginastica e Dança SA, Smartfit said in a securities filing.Smartfit did not disclose in the filing the size of the stake GIC's GIC Special Investments Pte Ltd had acquired in the company.With stores in Brazil, Mexico, Chile, Peru and the Dominican Republic, Smartfit has among its shareholders the Brazilian family Corona and investment firm Pátria Investimentos Ltda, which has a partnership with U.S. buyout firm Blackstone Group LP.Smartfit, ...

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First Published: Mon, May 14 2018. 20:22 IST