Patria Investments announces acquisition of 51% stake in Solis Investimentos, a leading Asset Back Security-focused manager in Brazil

Rhea-AI Summary

Patria (NASDAQ: PAX) agreed to acquire a 51% stake in Solis Investimentos, a Brazilian manager focused on CLOs, on Nov 26, 2025. The deal adds approximately US$3.5bn of Fee‑Earning AUM to Patria, boosting pro‑forma Credit FEAUM by over 40% to >US$11.7bn as of 3Q25 and putting Credit above 25% of total FEAUM.

Solis manages 120+ funds, serves 30,000+ investors, and reported ~45% CAGR in fund growth since 2021. The Solis team (100+ professionals) and partners will remain, and Patria expects the transaction to be accretive in year one.

Positive

• US$3.5bn Fee‑Earning AUM added
• Credit FEAUM +40% to >US$11.7bn pro‑forma (3Q25)
• Credit now >25% of Patria total FEAUM pro‑forma
• 45% CAGR in Solis fund growth since 2021
• Transaction expected accretive in year one
• Solis team of 100+ professionals retained

Negative

• None.

News Market Reaction – PAX

+2.22%

+2.22% Session close to close

In the Nov 26 session, PAX gained 2.22%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands Patria’s Credit platform by acquiring 51% of Solis, adding approximately U...

Analysis

This announcement expands Patria’s Credit platform by acquiring 51% of Solis, adding approximately US$3.5 bn of Fee-Earning AUM and taking pro-forma Credit FEAUM above US$11.7 bn. It increases Credit to over 25% of total FEAUM and deepens exposure to Brazil’s CLO market, which has grown at a 35% CAGR. Investors may watch future disclosures on integration progress, AUM growth, and how this transaction contributes to earnings and fee-related metrics over time.

Key Figures

Stake acquired: 51% Solis FEAUM added: US$3.5 bn Pro-forma Credit FEAUM: US$11.7 bn+ +5 more

8 metrics

Stake acquired 51% Equity interest in Solis Investimentos

Solis FEAUM added US$3.5 bn Fee-Earning AUM contributed by Solis, pro-forma 3Q25

Pro-forma Credit FEAUM US$11.7 bn+ Patria Credit FEAUM pro-forma for Solis transaction

Credit share of FEAUM 25%+ Pro-forma share of total Fee-Earning AUM

Brazil CLO market CAGR 35% CAGR over last 5 years for Brazil CLO market

Solis fund growth CAGR 45% Aggregate fund growth since 2021

Funds managed 120+ funds Number of funds managed by Solis

Investors served 30,000+ investors Investor base across Solis’ funds

Historical Context

5 past events · Latest: Nov 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Nov 26	Credit platform acquisition	Positive	+2.2%	Acquisition of 51% of Solis, adding US$3.5bn Credit FEAUM.
Nov 04	Q3 2025 earnings	Positive	+3.0%	Q3 results with >US$50bn AUM and higher Distributable Earnings.
Oct 08	Q3 call announcement	Neutral	-0.6%	Scheduled Q3 2025 earnings release and investor webcast.
Aug 01	Q2 2025 earnings	Positive	-4.4%	Strong Q2 FRE and fundraising but shares fell post-release.
Jul 08	Q2 call announcement	Neutral	-1.1%	Announcement of timing for Q2 2025 earnings call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Positive fundamental news such as earnings beats and platform-expanding acquisitions often coincided with upward moves, though Q2 2025 earnings saw a negative reaction despite strong metrics.

Recent Company History

This announcement adds Solis’ CLO-focused platform to Patria’s Credit franchise, continuing a trend of AUM growth and platform expansion. Earlier in 2025, Patria reported Q2 and Q3 earnings with rising Fee Related Earnings, strong fundraising, and dividends of $0.15 per share. Investor calls in July and October 2025 highlighted a diversified alternatives platform across Latin America, Europe, and the U.S. The Solis acquisition builds on that trajectory by increasing Credit FEAUM and CLO capabilities in Brazil.

Key Terms

collateralized loan obligations, compound annual growth rate, fee-earning AUM, closed-end, +1 more

5 terms

collateralized loan obligations financial

"a Brazilian investment manager specializing in the structuring and management of CLOs"

A collateralized loan obligation is a financial product that pools many corporate loans and repackages them into slices sold to investors, with some slices offering steady, lower returns and others offering higher returns but more risk. Like splitting a pizza into pieces for different tastes, CLOs let investors pick their preferred risk level and help banks fund lending, so changes in CLO performance influence credit availability and can move markets.

compound annual growth rate financial

"driven asset growth at a compound annual growth rate (“CAGR”) of 35% over the last 5 years"

The compound annual growth rate (CAGR) shows how much an investment or value has grown, on average, each year over a specific period. It considers the effect of growth that compounds or builds upon itself, similar to how interest accumulates in a savings account. Investors use CAGR to compare different investments’ long-term performance and to understand how steady or consistent their growth has been over time.

fee-earning AUM financial

"addition of Solis’ approximate US$ 3.5 bn of Fee-Earning AUM (“FEAUM”)"

Fee-earning AUM is the portion of a firm’s total assets under management that generates fees paid by clients — for example management or performance fees — rather than assets that are non-fee or administrative. Think of it like the part of a store’s inventory that actually sells and brings in cash; for investors it signals the company’s primary revenue base, how sensitive income is to market moves or client withdrawals, and how scalable future earnings may be.

closed-end financial

"Solis originates, structures, and directly manages closed-end CLOs in Brazil"

A closed-end fund is an investment pool that issues a fixed number of shares in a one-time offering and then those shares trade on an exchange like stocks, rather than being continuously created or redeemed. Investors should care because the market price can rise above or fall below the value of the fund’s underlying holdings, affecting returns and liquidity, and managers have a steady pool of capital to follow long-term strategies.

fund of funds financial

"managing commingled evergreen allocator CLO fund of funds"

An investment vehicle that buys stakes in multiple other investment funds instead of individual stocks or bonds, acting like a curated shopping basket of funds managed by professionals. Investors get built-in diversification and access to specialist managers, but should watch for an extra layer of fees and potential overlap between holdings because those factors can reduce net returns.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Partnership supports Solis' next phase of growth, while further expanding Patria’s leading Credit franchise in Latin America, adding approximately US$ 3.5 bn in Assets Under Management in the fast-growing CLO market

GRAND CAYMAN, Cayman Islands, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Patria Investments Limited (“Patria”) (NASDAQ: PAX), a global alternative asset manager, announced today the agreement to acquire 51% of Solis Investimentos, a Brazilian investment manager specializing in the structuring and management of CLOs. The CLO market in Brazil has been benefiting from a variety of structural and secular trends which have driven asset growth at a compound annual growth rate (“CAGR”) of 35% over the last 5 years.

Upon completion of the transaction, the addition of Solis’ approximate US$ 3.5 bn of Fee-Earning AUM (“FEAUM”) will increase Patria’s total Credit FEAUM by over 40% to more than US$ 11.7 bn pro-forma as of 3Q25, solidifying its position as a leading Credit platform in Latin America. Pro-forma for the transaction, Credit will account for over 25% of Patria’s total FEAUM.

The partnership positions Solis for a new cycle of growth by connecting its high-quality credit origination, analysis, and monitoring capabilities to Patria's platform, expanding its access to both local and global capital.

Founded in 2015, and led by Delano Macedo and Ricardo Binelli, Solis is today a market leader in the CLO segment in Brazil, bolstered by strong market relationships, including robust access to capital and originators.

Solis serves a diversified investor base, including asset managers, bank treasuries, family offices and other wealth management clients. Solis originates, structures, and directly manages closed-end CLOs in Brazil targeting institutional investors, in addition to managing commingled evergreen allocator CLO fund of funds, targeting both institutional investors and wealth management clients.

Following the acquisition, the partners will continue to lead Solis. The team, comprising over 100 professionals, will remain in their current roles, with offices in Fortaleza and São Paulo, Brazil.

José Augusto Teixeira, Partner, said: “This strategic acquisition helps us expand and further consolidate our leading position as a Credit platform in Latin America, while significantly strengthening our origination capabilities in a large, underserved, and rapidly growing market. We see significant structural tailwinds supporting the growing penetration of non-bank, asset-backed instruments like CLOs as solutions to companies’ and individuals’ demand for credit. Solis' expertise in large-scale origination, analysis and monitoring is highly complementary to our business. We will combine Solis' speed and technical capability with Patria's sector intelligence and access to global and local capital to strengthen both platforms and better serve clients and businesses.”

“Solis is recognized by the market as the Brazilian home of CLOs, thanks to the expertise of its professionals in creating solutions for investors. Although our strategy remains the same, in this new phase the company continues its journey of sustainable growth, with even greater potential to create vehicles for those seeking the security of CLOs in their portfolio allocation strategies,” said Ricardo Binelli, Partner of Solis Investimentos.

Delano Macedo, Partner, said, “The DNA of Solis that brought us here will be respected and preserved. From the perspective of borrowers, where we have stood out by creating customized solutions, it is important to emphasize that we will achieve significant reach gains through integration, combining Patria’s strength in the market with everything we have been building, further enhancing Solis’s presence as a leader in structuring CLOs.”

Solis currently manages over 120 funds and serves more than 30,000 investors. On aggregate, Solis’ funds have grown at an approximate 45% CAGR since 2021, exceeding the market's annual average of 35%.

The transaction is expected to be accretive in the first year. Additional information will be posted to the Shareholders section of Patria’s website at https://ir.patria.com/.

About Patria Investments

Patria is a global middle market alternative asset manager, specializing in key resilient and growth sectors. We are a leading asset manager in Latin America and have a strong presence in Europe through our extensive network of General Partners relationships. Our on-the-ground presence combines investment leaders, sector experts, company managers, and strategic relationships, allowing us to identify compelling investment opportunities accessible only to those with local proficiency. With 37 years of experience and over $51 billion in assets under management, we consistently deliver attractive returns through long-term investments, while promoting inclusive and sustainable development in the regions where we operate. Further information is available at www.patria.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "can," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our annual report on Form 20-F, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Media contact:

Burson / +44 20 7113 3468 / patria@hillandknowlton.com 

Patria Shareholder Relations:

E. PatriaShareholderRelations@patria.com
T. +1 917 769 1611

FAQ

What stake did Patria acquire in Solis and when was the deal announced (PAX)?

Patria announced on Nov 26, 2025 that it will acquire a 51% stake in Solis Investimentos.

How much Fee‑Earning AUM does Solis add to Patria's credit platform (PAX)?

Solis contributes approximately US$3.5bn of Fee‑Earning AUM, raising Credit FEAUM by over 40% to >US$11.7bn pro‑forma (3Q25).

Will Solis management and staff remain after the Patria acquisition (PAX)?

Yes; the founding partners will continue to lead Solis and its team of 100+ professionals will remain in their current roles.

What impact does the Solis deal have on Patria's business mix (PAX)?

Pro‑forma for the transaction, Credit will account for over 25% of Patria's total Fee‑Earning AUM.

How fast has Solis grown its funds recently and what investor base does it serve (PAX)?

Solis' funds have grown at an approximate 45% CAGR since 2021, serving asset managers, bank treasuries, family offices and wealth clients.