Kinea Investimentos, the alternative asset management arm of Brazilian financial services group Itaú Group, has announced the final close of its second Brazil-focused private equity fund, Kinea II Private Equity Fund, with BRL1 billion (approximately US$490 million) in commitments. The firm raised the fund entirely from domestic sources of capital through two vehicles: a BRL800 million (approximately US$390 million) vehicle for Brazilian institutional investors and a BRL200 million (approximately US$98 million) vehicle for high net-worth individuals. Investors in the smaller vehicle will be allowed to co-invest alongside the fund.