PAX - Patria Investments: Go Local In LatAm

2024-04-19 02:30:09 ET

Summary

• Patria is a global alternative asset manager with a strong reputation in Latin America and $31.8 billion in assets under management, set to grow to $50bn in 2024.
• The company has had a 30% CAGR growth in assets under management despite challenging economic conditions in the region.
• Patria's IRR performance has outperformed global peers.
• The market is mispricing this business at a forward PE of 9% and an 8% dividend.

Investment Thesis

Patria ( PAX ) is a global alternative asset manager and industry leader in Latin America, with over 35 years of history, combined assets under management of $31.8 billion, and a global presence with offices in 10 cities across 4 continents. Patria aims to be the gateway for alternative investments in Latin America. Through a diversified platform spanning Private Equity, Infrastructure, Credit, Public Equities and Real Estate.

Patria is a well established leader in the Latin American alternative investment arena. The company has a strong reputation in the global alternative asset management community, which is evidenced by the large number of assets under its management that are sourced from international institutional investors....

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