Global alternative asset manager The Carlyle Group has agreed to invest a reported BRL1.75 billion (approximately US$592 million) for an 8.3 percent stake in Brazil-based hospital operator Rede D’Or São Luiz. The investment will be structured through Carlyle Partners VI and Carlyle’s South American buyout funds, including Fundo Brasil de Internacionalizacão de Empresas FIP II, a local fund advised by Carlyle and Banco de Brasil. Rede D’Or will use the investment to finance its planned expansion, including the construction of new hospitals, expansion of existing facilities and the financing of new acquisitions. The transaction is expected to close in the second quarter of 2015.