Patria Investimentos SA may give up its plan to buy a stake in Brazilian shoemaker Vulcabras Azaleia SA as private equity investors are becoming more cautious because of the global financial crisis, O Estado de S. Paulo reported, without saying where it got the information.

To contact the reporter on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net.

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net.