Patria Investments

What Patria Investments does

Patria Investments is a Cayman Islands-incorporated, NASDAQ-listed (PAX) alternative asset manager founded in 1988 with principal operating hubs in São Paulo, New York, and Chicago. The firm invests across private equity, infrastructure, credit, real estate, Global Private Market Solutions (GPMS — primaries, secondaries, co-investments), public equities, and wealth management, with $52.6 billion in total assets under management as of Q4 2025 (growing 26% year-over-year) and $40.8 billion in Fee-Earning AUM (accelerating to $45.8 billion by Q1 2026). Patria serves institutional limited partners — pension funds, sovereign wealth funds, insurance companies, endowments — alongside family offices and private wealth clients, with geographic coverage spanning Latin America (Brazil, Colombia, Chile, Mexico, Uruguay, planned Peru), North America, Europe, the Middle East, and Asia-Pacific.

The firm's investment platform combines flagship fund strategies with proprietary origination capabilities. Infrastructure Fund V, closed at $2.9 billion, is the largest dedicated infrastructure fund ever raised in Latin America and spans power and energy (Puerta de Oro 360 MWp solar project, Puertos de Santander), logistics and transportation (Pacifico Tres toll road, Via Araucária), digital infrastructure (the Omnia data center platform targeting hyperscalers in Brazil, Mexico, and Chile with a ByteDance/TikTok anchor facility at Pecém), and environmental services (Aguas Pacifico desalination, Vita Sertão). The credit platform includes dedicated Latin America private credit funds (the first vintage raised $314 million at a 15.6% gross unlevered IRR with over 70% deployed), CLO management via Solis Investimentos, and listed REITs through RBR Gestão. GPMS runs a selective secondaries business with 3.0x+ MOIC exits in 2025 and expanded to over $13.6 billion in FEAUM following the WP Global Partners acquisition.

Patria generates revenue primarily through management fees calculated as a percentage of Fee-Earning AUM (subscription/recurring) supplemented by performance fees and carried interest on investment returns above hurdle rates. Distribution is executed through direct institutional sales relationships across five regions, with approximately 55% LP re-up rates in recent fundraises, a record $7.7 billion in 2025 organic fundraising, and a 54.6% Fee-Related Earnings margin in Q1 2026. The firm pursues a stated goal of reaching $150 billion in AUM and becoming one of the world's top 30 fund managers, supported by an aggressive inorganic expansion program (WP Global, Solis, RBR, Banmédica, Share Student Living) and the December 2025 appointment of a London-based Global COO from DWS Group to sharpen the global operating model.

Name

Patria Investments

Legal name

Patria Investments Limited

Website

https://patria.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

251–500 employees

Short description

Patria Investments is a Latin American alternative asset manager (NASDAQ: PAX, founded 1988) operating private equity, infrastructure, credit, real estate, GPMS, and wealth management strategies with $52.6B AUM, serving institutional investors, family offices, and private wealth clients across global markets.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

Keywords

• Alternative asset management
• Private equity funds
• Infrastructure investing
• Institutional asset management
• Private credit strategies

Headquarters

HQ city

George Town

HQ country

Cayman Islands

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Management Fees (Fee-Earning AUM-based): Patria earns management fees calculated as a percentage of Fee-Earning Assets Under Management (FEAUM) across its private equity, infrastructure, credit, real estate, and GPMS segments. FEAUM reached approximately $40.8 billion as of Q4 2025, growing 24% year-over-year, and approximately $45.8 billion in Q1 2026 growing 31% year-over-year.
2. Performance Fees / Carried Interest: Patria earns performance-based carried interest on investment returns above hurdle rates across its flagship funds. Recent funds include Private Credit Fund with 15.6% gross unlevered IRR, and GPMS secondaries with average returns exceeding 3.0x MOIC in 2025 exits.
3. Private Credit Origination: Patria generates fee income through its Latin America private credit strategy, which targets a structurally under-levered corporate credit market of approximately $2.3 trillion. The first dedicated fund raised $314 million in May 2025 and has deployed over 70% of commitments.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Patria Investments is a leading Latin American alternative asset manager that invests in private equity, infrastructure, credit, real estate, public equities, and private credit on behalf of institutional investors, family offices, and high-net-worth individuals. The firm manages $52.6 billion in total assets under management through diversified fund vehicles, including flagship funds like Infrastructure Fund V and the Secondary Opportunities Fund series, with deep regional expertise spanning Latin America, North America, Europe, the Middle East, and Asia-Pacific.

Product overview

Patria Investments is a leading Latin American alternative asset manager offering a comprehensive suite of investment products across multiple strategies: Private Equity (direct investments in Latin American companies), Public Equities (benchmark-agnostic public market portfolios), Global Private Market Solutions (GPMS - primaries, secondaries, and co-investments globally), Infrastructure (including flagship Infrastructure Fund V), Credit, Real Estate, Private Credit (Latin America-focused corporate credit), Wealth Management, and Responsible Investments. The firm also operates Omnia, a data center platform targeting hyperscalers. With over 35 years of history and $52.6 billion in AUM as of 2025, the company serves institutional investors through these integrated investment strategies.

Differentiator

Problem solved

Functional benefit

Brands

• Igah Ventures: Venture capital investment platform acquired by Patria
• Omnia
• Infrastructure Fund V

Products and services

• Private Equity Direct private equity investments in Latin American companies across sectors including healthcare, technology, financial services, and consumer staples. Targets industry leaders with disciplined risk management.
• Public Equities

Quantifiable outcome

• $52.6 billion total AUM as of Q4 2025, growing 26% year-over-year
• +7 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Constructora CONCONCRETOminorStrategic or Co-development Partner · 9 July 2026Constructora CONCONCRETO is involved in the construction of the Puerta de Oro solar park in Colombia as part of a consortium of Colombian and Costa Rican construction companies developing the 146 km Pacifico Tres road infrastructure project.
• National Interconnected System (Colombia)minorStrategic or Co-development Partner · 9 July 2026The Puerta de Oro solar park is connected to Colombia's National Interconnected System via a 23 km, 230 kV transmission line crossing the Magdalena River, supplying clean energy to the national grid.
• Raízen PowerminorStrategic or Co-development Partner · 3 February 2026Patria's Trya energy trading platform signed an agreement to acquire Raízen Power, representing expansion into energy trading and power distribution markets as part of Patria's energy sector strategy.
• WP Global PartnerscoreStrategic or Co-development Partner · 2 February 2026Patria announced the acquisition of WP Global Partners, a U.S.-based private equity solutions manager focused on the lower-middle-market. The all-cash deal adds approximately $1.8 billion in FEAUM and brings GPMS FEAUM to over $13.3 billion. WP Global's 30 professionals were integrated into Patria's New York and Chicago offices.
• Snowcap ResearchminorOthers · 26 January 2026Snowcap Research published a short-seller report in January 2026 alleging that Patria was overstating performance and masking losses within its flagship private equity and infrastructure funds. The report caused Patria's stock to fall $0.78 per share (4.55%) to $16.37. Multiple law firms subsequently initiated investigations into potential securities fraud.
• Solis InvestimentoscoreStrategic or Co-development Partner · 2 January 2026Patria completed acquisition of a 51% stake in Solis Investimentos, a Brazilian CLO-focused asset manager adding approximately $3.5 billion in Fee-Earning AUM. The acquisition increases Patria's total Credit FEAUM by over 40% to more than $11.7 billion. Solis will continue operating under its existing leadership in Brazil with offices in Fortaleza and São Paulo.
• Banmédica S.A.coreStrategic or Co-development Partner · 18 December 2025Patria agreed to acquire Banmédica S.A. from UnitedHealth Group for $1.0 billion. Banmédica operates healthcare businesses across Colombia and Chile with 1.7 million health plan members, seven hospitals, and 47 medical centers. The transaction was in progress as of late 2025.
• RBR Gestão de Recursos Ltda.coreStrategic or Co-development Partner · 11 December 2025Patria agreed to acquire RBR Gestão de Recursos Ltda., which manages approximately $1.5 billion of listed REITs in Brazil. Upon closing in Q1 2026, the transaction increases Patria's total Real Estate FEAUM to $8.5 billion, positioning it as the leading REIT manager in Brazil across credit and multi-asset REIT strategies.
• Omnia Data CenterscoreStrategic or Co-development Partner · 8 December 2025Omnia is Patria's proprietary data center platform targeting hyperscalers in Latin America. Launched in May 2025, Omnia is developing large-scale, renewable-powered data centers in Brazil, Mexico, and Chile, with the first facility beginning construction in late 2025 and operations expected by 2027. The Pecém project is being developed in partnership with ByteDance.
• ByteDance / TikTokcoreStrategic or Co-development Partner · 19 May 2025Omnia (Patria's data center platform) signed a 20-year, $2 billion energy supply agreement with Casa dos Ventos to power a hyperscale data center being built for ByteDance at the Pecém port complex in Brazil. The first phase of operations is slated for Q3 2027 with gradual expansion through 2029. Total investment exceeds $39 billion.
• Casa dos VentoscoreStrategic or Co-development Partner · 19 May 2025Casa dos Ventos is the exclusive renewable energy supplier for Omnia's data center project for ByteDance at the Pecém port complex. Casa dos Ventos will supply power from its 630 MW Ibiapaba wind complex and Dom Inocencio wind farm in Piauí through a 20-year, $2 billion agreement.
• Moneda Asset ManagementcoreStrategic or Co-development Partner · 4 September 2021Patria completed a combination with Moneda Asset Management in September 2021, creating a significant investment platform in Latin America with over $25.9 billion in AUM. The combined entity became a leader in Private Equity, Infrastructure, and Credit investments in the region with plans for geographical and product expansion.

Scale indicators23 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Vinci Partners: Brazilian alternative asset manager listed on NASDAQ, offering private equity, infrastructure, credit, and real estate strategies across Latin America. Directly comparable to Patria as a LatAm-headquartered multi-strategy alternative asset manager targeting similar institutional LP base.
• BTG Pactual: Latin American investment bank and asset manager with significant alternative investment, private equity, infrastructure, and credit businesses. Direct comparable in scale, geography, and product breadth as a LatAm-based multi-strategy asset manager.
• StepStone Group: Global private markets solutions and secondaries platform that competes directly with Patria's GPMS franchise in primaries, secondaries, and co-investments. Highly relevant given WP Global acquisition bolsters Patria's GP-led secondaries capabilities.

Broad incumbents

• Brookfield Asset Management: One of the world's largest alternative asset managers with infrastructure, private equity, credit, and real estate franchises including significant Latin America exposure through Brookfield Infrastructure Partners. Competes for the same institutional LP allocations as Patria, but at vastly larger scale.
• KKR & Co. Global alternative asset manager operating across PE, infrastructure, credit, and real estate with growing Latin America presence. Competes for institutional capital and increasingly for the same LatAm-focused LPs that anchor Patria's funds.
• Macquarie Asset Management: Global infrastructure and alternative asset manager with established Latin America infrastructure fund franchise (MIP). Direct infrastructure franchise competitor in renewables, data, and transportation infrastructure, particularly relevant to Patria Infrastructure Fund V strategy.
• Carlyle Group: Global alternative asset manager with PE, credit, and infrastructure businesses targeting institutional LPs. Comparable in multi-strategy structure and global expansion playbook, including bolt-on acquisitions like Patria's WP Global deal.

Regional players

• IG4 Capital: Latin American-focused private equity and infrastructure investment manager with active presence in Brazil, Mexico, and Colombia. Regional competitor for mid-market PE and infrastructure deals in Patria's core geographies.

Emerging players

• Stonepeak: US-focused infrastructure investment manager with growing digital infrastructure (data centers) and energy transition mandate, comparable to Omnia's strategy. Competitor for hyperscale data center development capital and infrastructure LP allocations.

Others

• Pagaya Technologies: Adjacent rather than competing: AI/data infrastructure ecosystem participant. Included as an enabling thematic reference given Patria's AI-driven data center platform thesis through Omnia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/patriainvestments
• LinkedInlinkedin.com/company/patria-investimentos

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments21 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patria Investments