Patria Investments Ltd

Patria Investments reported total fundraising of $2.3 billion in the second quarter of 2026, bringing the year-to-date total to $4.5 billion and keeping the firm on track toward its $7 billion annual target. Fee-earning assets under management reached $48.9 billion, a 32% increase from the prior year, while fee-related earnings rose 24% year-over-year to $57.1 million. The company maintained its full-year fee-related earnings guidance of $225 million to $245 million, though it now expects the fee-related earnings margin to fall modestly below its 58% to 60% target due to the faster-than-expected pace of acquisitions. Distributable earnings per share were $0.32, up 31% year-over-year, and the firm declared a quarterly dividend of $0.1625 per share. A new $1 billion multi-asset separately managed account commitment from a sovereign wealth fund client was highlighted as a key fundraising win, and pending fee-earning AUM rose 20% to $4 billion.

Patria Investments declared a quarterly dividend of $0.1625 per share, in line with the previous payout. The dividend carries a forward yield of 6.01% and is payable on September 14 to shareholders of record as of August 10, with the ex-dividend date also set for August 10.

Patria Investments reaffirmed its 2026 fee-related earnings target of $225 million to $245 million but now expects the full-year FRE margin to come in modestly below its 58% to 60% target. CEO Alexandre Saigh reported that quarterly fundraising reached $2.3 billion, bringing the year-to-date total to $4.5 billion and keeping the firm on track to exceed its $7 billion full-year target, with fee-earning assets under management rising to $48.9 billion. CFO Raphael Denadai said total fee revenues were approximately $105.8 million and fee-related earnings were $57.1 million, yielding a 54% FRE margin for the quarter, while distributable earnings per share came to $0.32. The margin shortfall was attributed to the short-term impact of acquisitions and ongoing investments, though management remains confident in achieving the 58% to 60% target for 2027 and beyond. A key highlight was a new $1 billion commitment from an existing sovereign wealth fund client to a multi-asset separately managed account, which helped push pending fee-earning AUM up about 20% to $4 billion.

Patria Investments has successfully closed its Secondary Opportunities Fund V, securing over USD 670m in total commitments, exceeding its initial USD 500m target by more than a third. The fund attracted a diverse global investor base, with approximately 55% of commitments from existing Patria clients and 45% from new investors. North America accounted for over 50% of total commitments, followed by Europe at approximately 40%, with additional capital from Latin America, the Middle East, and Asia-Pacific. SOF V focuses on private equity secondary opportunities in the European and North American mid-markets, targeting smaller-sized deals through both LP-led and GP-led transactions.