Welcome to our dedicated page for Patria Investments news (Ticker: $PAX), a resource for investors and traders seeking the latest updates and insights on Patria Investments stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Patria Investments's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Patria Investments's position in the market.
Patria (Nasdaq:PAX) reported strong unaudited results for the first quarter of 2024, including $35 million in Fee Related Earnings, a 13% increase from the previous year. Distributable Earnings were over $31 million, or 21 cents per share. The company raised $1.1 billion organically and closed acquisitions, showing confidence in reaching financial targets. Net income was $15.4 million, with a quarterly dividend of $0.175 per share declared.
Patria Investments completed the acquisition of the private equity solutions business from abrdn, expanding its global private markets capabilities. This transaction adds over $8 billion in Fee Earning Assets Under Management across mid-market Primaries, Secondaries, and Co-investment strategies. The new vertical, Global Private Markets Solutions, combines Patria's existing global private markets vehicles with the acquired platform to form a new growth engine for the investment platform. With tailored client solutions and drawdown funds, including primaries, secondaries, and co-investment strategies, this acquisition enhances Patria's ability to serve clients globally.
