Patria Investments Ltd Stock Price, News & Analysis

Patria (Nasdaq:PAX), a global alternative asset manager, has announced its second quarter 2024 investor call scheduled for August 1, 2024, at 9:00 a.m. ET. The company will release its financial results and host a public webcast conference call. Investors can register for the call using the provided link, and a replay will be available on Patria's website.

Patria, with over 35 years of history and $32.0 billion in combined assets under management, is a leader in Latin American alternative investments. The firm offers a diverse platform of strategies including Private Equity, Infrastructure, Credit, Real Estate, Public Equities, and Global Private Markets Solutions. Patria has a global presence with offices in 13 cities across 4 continents.

On June 6, 2024, Patria Investments (NASDAQ: PAX) announced an agreement to acquire Nexus Capital, an independent alternative real estate asset manager in Colombia with $800 million in assets under management (AUM). This acquisition will boost Patria's real estate AUM in Colombia to over $2.2 billion. Patria aims to consolidate the region's fragmented real estate market. Nexus Capital, established in 2008, focuses on office, retail, industrial, and housing markets. Nearly 90% of Nexus' AUM are in permanent capital or long-duration structures. The transaction is set to complete by Q3 2024 and will contribute to Patria's growth goals, enhancing its investment offerings and relationships in Colombia.

Patria Investments (NASDAQ:PAX) has received approval from REIT shareholders to acquire Credit Suisse’s Brazilian Real Estate funds (CSHG Real Estate), which manage approximately $2.4 billion in Fee Earning AUM. This acquisition will increase Patria’s Real Estate AUM to over $6 billion, up from less than $700 million in 2021. The transaction, expected to be completed by August 30th, will also increase Patria’s permanent capital to roughly 20% of total Fee Earning AUM. This move solidifies Patria’s position as a leading independent manager of REITs in Brazil and Latin America, while expanding its presence in Brazil, Chile, and Colombia. The acquisition includes seven REITS, with over 960,000 shareholders, and aims to diversify and scale Patria’s Real Estate offerings across various property types. Marcelo Fedak and Daniel Sorrentino of Patria praised the strategic growth and new opportunities this acquisition brings.

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.