PAX - Patria Investments to divest Delly's from Private Equity Fund V
2023-06-21 10:40:15 ET
- Patria Investments ( NASDAQ: PAX ) on Wednesday announced the sale of Delly's , the third largest holding in its Private Equity Fund V portfolio, in line with the Brazilian food service distributor's most recent quarterly valuation mark.
- Delly's will be divested to funds advised by CVC Capital Partners, a global alternative investment manager, and Patria's ( PAX ) Private Equity Fund VII.
- Patria ( PAX ), CVC and Delly's existing management will lead the distributor into its next phase of growth.
- Delly's has grown from 1% market share at the time of Patria's ( PAX ) initial investment in 2015 to 11% in 2022.
- Private Equity Fund V is a $1.8B 2015 vintage fund. Together with earlier divestments, the Delly's sale will result in ~$600M of total proceeds secured for Fund V investors.
- Over the last 12 months, Patria ( PAX ) secured proceeds of ~$2.2B for fund investors through divestments in both Private Equity Fund V and Infrastructure Fund III.
- Now read - Patria: Shares Steady In 2023, Hold On Valuation, Solid Yield Play
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Patria Investments to divest Delly's from Private Equity Fund V