Colombian private equity fund manager Tribeca Asset Management has agreed to sell its 50.2 percent stake in Colombia-based oil and gas exploration, development and production company Petrolatina Energy (PELE) to Canada-based exploration and production company Gran Tierra Energy for US$264 million. Tribeca originally invested in PELE in 2008 in a transaction structured through Tribeca Fund I. The exit, which is subject to closing conditions, will reportedly generate a multiple of invested capital of approximately 6.2x.