Hicks, Muse, Tate & Furst Inc. this week announced its first investment in Latin America.
The Dallas-based buyout firm and a group of investors took an undisclosed stake in Intercable, a cable television business in Venezuela.
The investment will allow Intercable to buy cable systems in five midsize markets in Venezuela, and expand its infrastructure.
Hicks Muse had a first closing on a $650 million Latin America fund several weeks ago. The total fund is expected to be $800 million to $1 billion when it closes in the next few months.
In December, Hicks Muse and the Cisneros Group of Caracas formed a $500 million investment fund, Ibero-American Media Partners LP, to invest in building a network of television broadcasting, radio broadcasting, and programming assets.