Patria has announced the closing of its first evergreen publicly-traded Core Infrastructure fund, of approximately BRL800m total commitments. The vehicle will seek to invest in high-quality, operational power generation and transmission assets in Brazil.
(Press Release) Patria Investments Limited, or “Patria” (NASDAQ: PAX) today announced the closing of its first evergreen, publicly-traded, Core Infrastructure fund, Patria Infraestrutura Energia Core (“PICE”). PICE has closed on total commitments of approximately R$ 800 million, and is a yield-focused investment vehicle that will seek to invest in high-quality, operational power generation and transmission assets in Brazil. This platform is designed to hold investments for longer periods than traditional private equity.
After building a successful franchise of infrastructure funds that invest in value-add opportunities in Latin America, Patria is now expanding its product offering with this new family of infrastructure funds focusing on core infrastructure. PICE is the first infrastructure vehicle in a group of evergreen listed funds managed by Patria. PICE will be listed in the São Paulo Stock Exchange (“B3”), which will allow for its investors to have liquidity through the secondary market.
Alexandre Saigh, Patria’s Chief Executive Officer, said: “We are grateful for the strong trust of our investors that have supported us in the launching of this new initiative. In our opinion, the current environment of low interest rates creates a large need for products with attractive returns and moderate risk. Core Infrastructure offers a very compelling investment opportunity due to its attractive, yet defensive return profile. We are confident that our leading infrastructure platform, through our very experienced investment team, is uniquely positioned to offer the highest quality income oriented infrastructure investment products to our clients.”
About Patria Investments
With more than 30 years’ experience of successful investments in Latin America and offering products in Private Equity, Infrastructure, Real Estate and Credit, Patria is one of the leading private markets investment firms in Latin America in terms of capital raised and one of the largest managers focused on investments in Latin America. With a strong market presence, it seeks to provide investors with attractive investment products that allow for a diversified portfolio and consistent returns. With $12.7 billion of assets under management (as of September 30, 2020) and an investment portfolio composed of over 55 companies and assets, Patria has ten offices in the world’s major financial centers. For more information, please go to www.patria.com
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