PAX - Patria Investments Completes Acquisition of Nexus Capital Further Expanding its Real Estate Platform in Colombia | Benzinga
Transaction advances Patria's efforts to consolidate the region's fragmented Real Estate market by adding a diversified and well-established platform in Colombia with over COP 3,000 billion (or approximately US$ 725 million) in assets under management across multiple strategies
GRAND CAYMAN, Cayman Islands, July 16, 2024 (GLOBE NEWSWIRE) -- Patria Investments Limited ("Patria") (NASDAQ:PAX), a global alternative asset manager and market leader in Latin America, confirmed today that it has completed the previously announced agreement to acquire Nexus Capital ("Nexus"), one of the top independent alternative real estate asset managers in Colombia, with over COP 3,000 billion (or approximately US$ 725 million) in assets under management ("AUM") across multiple strategies. With the completion of the acquisition, Patria's Real Estate AUM in Colombia now surpasses US$ 2 billion. Financial terms of the transactions were not disclosed, but it is expected to be accretive to both Fee-related earnings and Distributable Earnings.
Marcelo Fedak, Partner and Head of Real Estate at Patria, says: "We are very happy with the execution of this transaction which closed ahead of schedule, and excited to welcome the talented team at Nexus to Patria. The team at Nexus has generated attractive returns ...