Patria Investments (PAX) Investor presentation summary

Business overview and strategy

• Operates as a leading alternative investment firm with over 37 years of experience and $48.9bn in fee-earning AUM as of 2Q26, targeting $70bn by 2027.

• Offers a diversified suite of 35+ investment strategies across infrastructure, credit, real estate, private equity, and global private market solutions.

• Maintains a global presence with 600 employees in 18 offices across four continents, serving over 500 institutional and 1.1 million individual investors.

• Focuses on connecting global and local capital to alternative investments in Latin America and expanding into developed markets.

• Demonstrates a client-centric approach, raising $7.7bn in 2025 and $4.5bn in 2Q26 YTD, on track for a $7bn fundraising target in 2026.

Financial performance and growth

• Management fees reached $103.7mn in 2Q26, up 28% YoY; Fee Related Earnings (FRE) were $57.1mn, up 24% YoY, with a 54% margin.

• Distributable Earnings (DE) per share rose 31% YoY to $0.32 in 2Q26.

• Total AUM grew 28% YoY to $62.1bn, and Fee Earning AUM (FEAUM) increased 32% YoY to $48.9bn.

• LTM organic capital inflows were $7.7bn, with $7.6bn from acquisitions and a positive $1.1bn valuation impact.

• FRE per share has a 26% CAGR since IPO, with a 2027 target of $1.60–$1.80 per share and a 15–20% CAGR from 2024.

Platform diversification and resilience

• FEAUM is diversified by asset class, product structure, and currency, with ~60% denominated in hard currencies and ~90% in long-duration or permanent capital vehicles.

• Management fee growth is supported by diversification, with a fee rate of 0.86% and a resilient, sticky asset base.

• Recent acquisitions (Solis, RBR, WP Global Partners) have expanded capabilities and contributed to FEAUM growth.

• Pending FEAUM stands at $4.0bn, representing capital available for future deployment.