Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 170

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 170
---
 2024, we implemented several important changes to our capital management policy to enhance our capital flexibility in order to fund our growth, including acquisitions, and long-term shareholder returns. Starting with our dividend in the second quarter of 2024, we transitioned from a variable quarterly dividend policy of approximately 85% of Distributable Earnings to a fixed quarterly dividend of U$0.15 per share, subject to annual review and adjustments as determined by our board of directors to be necessary or appropriate to provide for the conduct of our business, to make appropriate investments in our business and funds, to comply with applicable law, any of our debt instruments or other agreements, or to provide for future cash requirements such as tax-related payments, clawback obligations and dividends to shareholders for any ensuing quarter. In addition, we instituted a share repurchase plan of up to 1.8 million shares through June 2025, announced our intention to use repurchases to mitigate the impact of compensation-based share issuance overtime, and announced our plan to use Performance Related Earnings to fund acquisitions and/or repay acquisition related debt.

As of December 31, 2024, we had 577 professionals, of which 35 were partners, 21 of whom have worked together for more than 15 years. We operate in 13 offices around the globe, including investment offices in, Montevideo (Uruguay), São Paulo (Brazil), Bogotá and Medellín (Colombia), Santiago (Chile) and Edinburgh (Scotland) as well as client-coverage offices in New York (United States), Sausalito (United States), London (England), Dubai (UAE), Hong Kong (China) and Buenos Aires (Argentina), in addition to our corporate business and management office in George Town (Cayman Islands).

Key Business Metrics

The following table sets forth our key business metrics as of and for the periods indicated. These supplemental business metrics are presented to assist investors to better understand our business and how it operates. This annual report uses the terms AUM, FEAUM, and net accrued performance fee, for which the definitions are presented below. We strongly advise that these measures may differ from the calculations of other companies, and as a result, may not be comparable to similar ones.

The following table presents certain key operating performance metrics for the years ended December 31, 2024, 2023 and 2022:

  Patria Investments Limited      108  

  Table of Contents  

                                                   For the Years Ended December 31