Brazilian private equity firm Pátria Investimentos Ltda. agreed to acquire new and existing shares in Brazilian gym operator Smartfit Escola de Ginástica e Dança SA, Reuters reported, citing a securities filing.

Patria, which is backed by Blackstone Group LP, will invest about 500 million reais in exchange for the stakes, according to the report.

As of May 31, US$1 was equivalent to approximately 3.91 Brazilian reais.