Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 118

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 118
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 the remaining 49% being held by Bancolombia.

Acquired Private Equity Solutions Business from Abrdn

On October 16, 2023, we announced an agreement to acquire the carved-out private equity solutions business from abrdn Inc., based in Edinburgh, Scotland. abrdn's acquired business focuses primarily on primary, secondary, and co-investment middle market private equity investments in both commingled and separately managed account ("SMA") vehicles, as well as a private equity investment trust listed on the London Stock Exchange with more than US$1.5 billion in assets. The acquisition closed on April 26, 2024.

The combination of abrdn's business with certain of our feeder funds that direct Latin American capital to global private markets and our wealth management business in Latin America, formed a new vertical named Global Private Markets Solutions (“ GPMS”). This new vertical both enhances our ability to serve as a gateway for Latin American investors to access global private markets, while also expands our investment footprint into developed markets in the fast-growing alternative solutions market. The transaction added more than US$8 billion of FEAUM as of the closing date.

The transaction includes total consideration of up to GBP100 million (approximately US$122 million) payable to the seller in cash as follows: (i) GBP80 million as base value of which GBP60 million was due at closing and GBP20 million is due 24 months after closing; and (ii) GBP20 million contingent on certain performance factors and is due 36 months after closing. As of December 31, 2024, the GPMS vertical had approximately US$10.2 billion of fee-earning AUM.

Acquired Credit Suisse’s Real Estate Business in Brazil

On December 6, 2023, we announced that we had entered into an agreement to acquire Credit Suisse Hedging-Griffo’s Real Estate investment funds business unit in Brazil (“ CSHG Real Estate”), for total cash consideration of up to R$650 million (or approximately US$130 million at the time of the announcement). The transaction was structured with the payment of R$300 million (or approximately US$60 million at the time of the announcement) upon completion of standard regulatory approvals, and an additional R$350 million (or approximately US$70 million at the time of the announcement) upon the successful transfer of the underlying real estate funds. The funds are listed on the B3 stock exchange and together added approximately R$12 billion (or approximately US$