Company Overview - Patria Investments Limited is a global alternative asset manager and an industry leader in Latin America, with total assets under management of $41.9 billion [2] - The company has been established for over 35 years and operates in 13 cities across 4 continents [2] - Patria offers a diversified platform with investment strategies that include Private Equity, Infrastructure, Credit, Real Estate, Public Equities, and Global Private Markets Solutions [2] Dividend Announcement - Patria has amended the record date for its recently declared quarterly cash dividend from February 28, 2025, to February 25, 2025 [1] - The payment date for the quarterly dividend remains unchanged at March 17, 2025 [1]

Conference Call February 12, 2025 PATRIA INVESTMENTS (NASDAQ: PAX) 4Q24 Earnings Presentation Disclaimer PAX 4Q24 Earnings Presentation PAX 4Q24 Earnings Presentation Patria Reports Fourth Quarter & Full Year 2024 Results About Patria Dividends Shareholder Relations Contacts PAX 4Q24 Earnings Presentation Patria's Fourth Quarter & Full Year 2024 IFRS Results IFRS Net Income attributable to Patria was $56.8 million for 4Q24 and $73.4 million for the full year 2024 | (US$ in millions) | 4Q23 | 4Q24 | FY 2023 ...

Financial Data and Key Metrics Changes - Patria achieved full year 2024 fee related earnings (FRE) of $170 million, up 15% from 2023, with FRE per share reaching $1.12, up 13% [10][41] - For Q4 2024, FRE was $55 million, up 35% from the prior quarter and 18% year-over-year, with FRE per share of $0.36, also up 35% from Q3 and 13% year-over-year [10][41] - Total fee revenue for Q4 reached $93.2 million, up 41% year-over-year, while full year revenue was $300.8 million, up 25% [37][41] Business Line Data and Key Metrics Changes - Performance related earnings (PRE) for the year exceeded expectations, driven by the sale of the Aguas Pacifico project, contributing approximately $60 million in performance fees [11][60] - The net accrued performance fee balance declined 30% to $319 million, primarily due to significant realizations in Infrastructure III and lower marks on publicly traded holdings [13][41] - The earning assets under management (AUM) rose 38% year-over-year to $33 billion, although it declined 3% sequentially due to dollar appreciation [15][33] Market Data and Key Metrics Changes - Fundraising for 2024 totaled $5.5 billion, exceeding the target of $5 billion, with significant contributions from credit and GPMS platforms [20][21] - Approximately 70% of fundraising in 2024 came from local investors, indicating a shift in investment behavior towards local products [22][24] - The company noted that Brazil represents less than a third of its investment exposure, down from over 90% at the time of its IPO [23] Company Strategy and Development Direction - Patria is focused on diversifying its product offerings and enhancing distribution capabilities, with a target of $6 billion in fundraising for 2025 [21][32] - The company aims to develop local investment strategies tailored to regional markets, particularly in Chile, Colombia, and Brazil [96][100] - The strategy includes creating local currency-denominated funds to cater to local pension funds and investors [102][106] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 FRE target of $200 million to $225 million, with a margin between 58% to 60% [42][51] - The company is well-positioned to navigate macroeconomic challenges, with a focus on resilient sectors such as agribusiness and infrastructure [14][24] - Management highlighted the potential growth in pension fund contributions across Latin America, which could significantly increase the capital available for investment [94][95] Other Important Information - The effective tax rate for 2024 was 6.5%, with expectations to trend towards 10% by 2027 [44] - The company announced a fourth quarter dividend of $0.15 per share and plans to repurchase shares in 2025 [47][49] - Stock-based compensation for 2024 totaled $20 million, with expectations for it to rise to $28 million to $30 million in 2025 [50] Q&A Session Summary Question: Clarification on PRE and future exit strategies for Infra Fund III - Management confirmed that the sale of Aguas Pacifico was completed, generating approximately $60 million in performance fees, with additional exits from Infrastructure Fund III being pursued [60][62] Question: Trends in redemptions for public equities and credit strategies - Management noted that redemptions were minimal and expected to remain low, with positive net new money flows anticipated for credit strategies [66][68] Question: Breakdown of the $6 billion fundraising target for 2025 - Management indicated that while they have a well-organized plan, they prefer to maintain flexibility regarding the specific breakdown of the fundraising target [76][78] Question: Impact of Chile's pension reform on investment strategies - Management highlighted that pension reforms across Latin America are expected to increase contributions significantly, benefiting private equity and infrastructure investments [94][96] Question: Expectations for real estate inflows in 2025 - Management acknowledged that high interest rates in Brazil may negatively impact brick-and-mortar strategies, while security strategies are expected to perform well [110][112]

Financial Data and Key Metrics Changes - The company raised $5.5 billion in 2024, exceeding its fundraising target of $5 billion, with $300 million from its advisory business and $5.2 billion contributing to its asset base [8][20] - Full year 2024 fee related earnings (FRE) reached $170 million, up 15% from 2023, with FRE per share at $1.12, up 13% [10] - Fourth quarter FRE was $55 million, up 35% from the prior quarter and 18% year-over-year, with FRE per share at $0.36, also up 35% from the third quarter [10] - The company generated $189 million of distributable earnings for the full year, and $89 million in the fourth quarter, with per share values of $1.24 and $0.58 respectively [12][44] Business Line Data and Key Metrics Changes - Performance related earnings (PRE) for the year exceeded $41 million, primarily driven by the sale of the Aguas Pacifico project [11] - The net accrued performance fee balance was $319 million, down 30% due to significant realizations in Infrastructure III and lower marks on publicly traded holdings [13] - The earning assets under management (AUM) rose 38% year-over-year to $33 billion, although it declined 3% sequentially due to dollar appreciation [15][33] Market Data and Key Metrics Changes - Net organic inflows in fee earning AUM in the fourth quarter were $380 million, with positive inflows across all investment verticals except public equities [16] - Approximately 70% of fundraising in 2024 came from local investors investing in local products, a significant increase from virtually nil in 2020 [22] - The company has seen increased demand for credit strategies in Brazil due to high interest rates, while equity-oriented strategies have softened [22][79] Company Strategy and Development Direction - The company aims to achieve a fundraising target of $6 billion in 2025, actively fundraising across various funds and strategies [21] - The strategy focuses on diversifying its business and enhancing growth profiles, with a significant portion of fundraising coming from local investors [20][22] - The company is developing local investment strategies tailored to specific countries in Latin America, including private equity and infrastructure funds [100] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the 2025 FRE target of $200 million to $225 million, with an FRE margin between 58% to 60% [42] - The company is well-positioned to thrive amid macroeconomic uncertainties, with Latin America remaining an attractive destination for long-term capital commitments [24][23] - Management highlighted the positive momentum from pension fund reforms in Chile, Colombia, and Mexico, which are expected to increase contributions to pension funds significantly [94][95] Other Important Information - The effective tax rate for 2024 was 6.5%, with expectations to trend towards 10% by 2027 [44] - The company finished the year with approximately $190 million of net debt, with plans to reduce this throughout 2025 [46][82] - A fourth quarter dividend of $0.15 per share was announced, with intentions to repurchase shares in 2025 [47] Q&A Session Summary Question: Clarification on PRE and future distributions - Management confirmed that the sale of Aguas Pacifico was completed, generating approximately $60 million in performance fees, all accounted for in the fourth quarter [56][58] Question: Redemption trends in public equities and credit strategies - Management noted that redemptions in credit strategies were minimal and expected to remain small in 2025, with positive net new money flows anticipated [66][68] Question: Breakdown of the $6 billion fundraising target for 2025 - Management indicated that while they have a well-organized plan, they prefer to maintain flexibility regarding the specific breakdown of the fundraising target [76][78] Question: Impact of Chile's pension reform on inflows - Management highlighted that pension fund reforms across Latin America are expected to significantly increase contributions, benefiting private equity and infrastructure funds [94][95] Question: Expectations on real estate inflows in Brazil - Management acknowledged that high interest rates may negatively impact brick-and-mortar strategies, while security strategies are expected to perform well [110][111]

Core Insights - Patria reported strong financial results for Q4 and full year 2024, highlighting a transformational year with significant fundraising and growth in assets under management [2][3] - The company raised $5.5 billion in 2024, surpassing its target of $5 billion, with a diverse range of strategies contributing to this success [2] - Fee Earning AUM reached $33 billion, reflecting a year-over-year growth of 38%, while Fee Related Earnings (FRE) for the full year were $170 million, up 15% from 2023 [2][3] Financial Performance - In Q4 2024, Patria generated net income of $56.8 million, with total net income for the full year at $73.4 million [3] - FRE for Q4 2024 was $54.8 million, an 18% increase from $46.7 million in Q4 2023, resulting in an FRE margin of 59% [3] - Distributable Earnings for Q4 2024 were $89.1 million, or $0.58 per share, and for the full year, they totaled $189.2 million, or $1.24 per share [3] Dividends - Patria declared a quarterly dividend of $0.15 per share, payable on March 17, 2024, to record holders as of February 28, 2025 [4] Future Outlook - The company aims to raise $6 billion and achieve FRE of $200 to $225 million in 2025, indicating confidence in continued growth and diversification of its platform [2]

GRAND CAYMAN, Cayman Islands, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Patria Investments Limited ("Patria") (NASDAQ:PAX), a global alternative asset manager, announced that Patria Infrastructure Fund III ("IS Fund III") has substantially met the conditions precedent necessary for the sale of Aguas Pacifico, a multi-client water desalination project under construction in Chile, to Patria Infrastructure Fund V ("IS Fund V") and other investors. The agreement for the transaction was signed in December 2024. The sale ...

Company Overview - The company operates under the High Yield Investor profile, supported by a team of analysts who collaborate on research but do not necessarily share the same top holdings [1] - The company offers a 2-week free trial for full access to its market-crushing Portfolio and current Top Picks [1] Market Position - The company is the fastest-growing and best-rated stock-picking service on Seeking Alpha, with a perfect 5/5 rating from 180 reviews [2] - The company emphasizes that users will not be charged during the free trial period, highlighting a risk-free opportunity to explore its services [2]

GRAND CAYMAN, Cayman Islands, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) announced today that it will release financial results for the fourth quarter and full year 2024 on Wednesday, February 12, 2025, and host a conference call via public webcast at 9:00 a.m. ET. To register, please use the following link: https://edge.media-server.com/mmc/p/e5czewmy For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria’s website at https://ir.pat ...

GRAND CAYMAN, Cayman Islands, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Patria (NASDAQ:PAX) announced today that it will release financial results for the fourth quarter and full year 2024 on Wednesday, February 12, 2025, and host a conference call via public webcast at 9:00 a.m. ET. To register, please use the following link: https://edge.media-server.com/mmc/p/e5czewmy For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria's website at https://ir.pat ...

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