Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 128

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 128
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 opportunities in Latin America, we are now expanding our product offering with infrastructure funds focusing on core infrastructure as well as infrastructure credit. On March 8, 2021, we announced the closing of our first evergreen, publicly traded, Core Infrastructure fund, Patria Infraestrutura Energia Core FIP Infra (“ PICE”). PICE has closed on total commitments of approximately US$148 million (R$914 million), and is a yield-focused investment vehicle that seeks to invest in high-quality, operational power generation and transmission assets in Brazil. This platform is designed to hold investments for longer periods than traditional private equity and is listed on the Brazilian Stock Exchange (B3) under the symbol (“ PICE11”), which allows for its investors to have liquidity through the secondary market. Other examples of the expansion of our infrastructure platform include: (i) the August 2022 launch of Patria Infraestrutura Energia Core Renda FIP Infra (“ PIER”). PIER which now has about US$148 million (R$919 million) and invests primarily in established hydro plants that are fully operational, with inflation-indexed long-term contracts and already distributing yield to investors; (ii) the 2023 launch of our credit infrastructure fund ("Infrastructure Credit"), which combines the strength of both our credit and infrastructure platforms and which now has approximately U$182 million of AUM as of December 31, 2024; and (iii) the 2024 acquisition of Tria Comercializadora de Energia S. A., an energy trading company which represents a strategic collaboration between the Patria group and key players in the energy sector. This combination allows us to enhance and diversify our infrastructure vertical by integrating specialized expertise from the Brazilian energy market.

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  Table of Contents  

Infrastructure | Overview as of December 31, 2024

(1) Capex developed/contracted.

(2) Hamilton Lane Infra Global Median.

Infrastructure | Performance versus benchmark as of December 31, 2024

(1) Hamilton Lane Benchmarks as of September 2024.

(2) Net Returns as of December 31, 2024.

Private Equity and Infrastructure Fund Terms

The key terms of our private equity and infrastructure flagship funds are in general: (1) tenure of 10 to 12 years, extendable for two additional years; (2) 1.5% - 2.0% p. a. management fee, charged