Patria Investments Completes Acquisition of Private Equity Solutions Business from abrdn and Expands Its Global Private Markets Capabilities
April 29 2024 - 8:00AM
Patria Investments (“Patria”) (NASDAQ: PAX), a global alternative
asset manager and industry leader in Latin America, confirmed today
that it has completed the previously announced carve-out
acquisition of a private equity solutions business (“abrdn Private
Equity”) from abrdn Inc. (“abrdn”). The acquired platform, together
with Patria’s existing global private markets vehicles, will form a
new vertical – Global Private Markets Solutions (“GPMS”), with an
aggregate Fee Earning AUM (“FEAUM”) of over $10 billion. This
vertical will further develop Patria’s capabilities to serve
clients as a gateway to private markets on a global scale.
Marco D’Ippolito, Head of GPMS said: “We are
thrilled to bring this transaction to a close and launch this new
growth engine for Patria’s investment platform. Merrick and his
team have built a great business with complementary strategies and
a respected track record, and we believe they can thrive in
leveraging Patria’s platform as we grow together.”
Tailored client solutions and drawdown funds
consisting of primaries, secondaries and co-investment strategies
have grown into a major component of the private markets ecosystem.
Primaries offer diversified exposure for investors and provide
underlying general partners with an important source of anchor
capital, while secondaries and co-investment strategies can provide
investors with enhanced return profiles and improved portfolio
management. Secondaries and co-investment strategies in particular
have shown impressive growth in recent years, with global AUM
growing at a CAGR of 16% and 21% respectively from 2019 to
2022.
The acquired solutions business, with a team of
more than 50 employees, manages over $8 billion of Fee Earning AUM
across the aforementioned strategies through drawdown funds, a
listed private equity trust and separately managed accounts, with
investment exposure primarily to the European and US middle market.
With an impressive performance track record over 15 years, the
business has built a loyal global client base, and has current
investment relationships with more than 150 general partners.
Merrick McKay, Head of GPMS Private Equity,
said: “We are delighted to be the cornerstone platform in Patria’s
new Global Private Markets Solutions strategy vertical, recognizing
that this is Patria’s first acquisition outside Latin America.
Since the announcement of the acquisition in mid-October, we have
undertaken significant collaboration to ensure we ‘hit the ground
running’ from completion. Our interaction with Patria over this
period and the very positive response from existing and potential
clients has confirmed our strong belief that Patria is an excellent
partner for our business and clients, and that the combination will
support and enhance our continued development as a leading European
and US private equity business for institutional investors. This
includes the ability to offer our private equity solutions to the
fast-growing Latin American market where Patria has such a leading
presence and strong reputation. We are already working with
Patria’s global distribution team, which manages Patria’s
long-lasting relationships with many of the world’s most
sophisticated private markets investors.”
About Patria
InvestmentsCrafting attractive returns for our clients and
building a legacy in the regions where we operate.Patria is a
leading alternative investment firm with over 35 years of history
specialized in key resilient sectors. Its unique approach combines
the knowledge from macro analysts, investment leaders, operating
partners and on the ground team. With over U$40 billion pro forma
assets under management and a global presence, it aims to provide
consistent returns in attractive long term investment opportunities
while creating sustainable value for society.Asset Classes: Private
Equity, Infrastructure, Credit, Public Equities, Real Estate and
Global Private Markets SolutionsInvestment Regions: Latina America,
Europe and United States
Forward-Looking StatementsThis
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: Hill &
Knowlton: +44 20 7113 3468 / patria@hillandknowlton.com
Ideal H+K Strategies / patria@ideal.prFabio
Martins: +55 11 97336-1526 / fabio.martins@ideal.prRodrigo Fonseca:
+55 11 94846-5003 / rodrigo.fonseca@ideal.pr
Patria Shareholder
Relations:Andre Medina: +1 917 769 1611 /
andre.medina@patria.com
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