Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 17

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 17
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 equal-weighted net internal rate of return, or “IRR,”
in U.S. dollars for all our flagship private equity and infrastructure products since inception was 28.6% and 28.7% as of December 31,
2022 and 2021, respectively (30.1% and 30.5% in Brazilian reais, respectively). We have overseen the deployment of more than US$25 billion
through capital raised by our drawdown products, capital raised in IPOs and follow-ons, debt raised by underlying companies and capital
expenditures sourced from operational cash flow of underlying companies, with more than 100 investments and over 290 underlying acquisitions
as of December 31, 2022.

Our credit and public equities
strategies gained traction with our combination with Moneda Asset Management concluded in December 2021. As of December 31, 2022 and 2021,
the total AUM for our credit platform was US$4.7 billion and US$5.0 billion, respectively. As of the same dates, the total AUM for our
public equities products was US$2.1 billion and US$2.2 billion, respectively.

In addition to these products,
we believe we have a compelling opportunity to develop our additional two asset classes. Our real estate strategy is currently focused
on real estate investment trusts, or “REITs,” to leverage on the ongoing financial deepening in Latin America, which we believe
gained momentum with the agreement to acquire VBI Real Estate See “—Agreement to Acquire VBI Real Estate to Anchor Brazil
Real Estate Platform.” Our advisory and distribution platform, launched as a result of our combination with Moneda, had an aggregate
AUM of US$2.3 billion and US$2.2 billion as of December 31, 2022 and 2021, respectively. We expect it to play an important role on our
aspiration of becoming the conduit of capital for alternative investments coming both to and from Latin America.

Our successful track record
derived from our strategy and our strong capabilities has attracted a committed and diversified base of investors, with over 500 Limited
Partners, or “LPs,” across four continents, including some of the world’s largest and most important sovereign wealth
funds, public and private pension funds, insurance companies, funds of funds, financial institutions, endowments, foundations, and family
offices. We believe our historical returns in U