SAO PAULO (Bloomberg) — Bermuda-based GP Investments Ltd., a Brazilian private equity firm, agreed to pay 259 million reais ($153.7 million) for a stake in a private university administrator.

The company will acquire 20 percent of Estacio Participacoes SA, the administrator of Brazil's biggest private university system, GP and Estacio said in separate statements posted on the Brazilian regulator's web site last night.