Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 168

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 168
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ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The following discussion contains forward-looking statements that involve risks and uncertainties. Our actual results and the timing of events may differ materially from those expressed or implied in such forward-looking statements as a result of various factors, including those set forth in “ Cautionary Statement Regarding Forward-Looking Statements” and “ Item 3. Key Information - D. Risk Factors.”

A. Operating Results

The following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements as of the years ended December 31, 2024, 2023 and 2022 and the notes thereto, included elsewhere in this annual report, as well as the information presented under “ Presentation of Financial and Other Information.”

Overview

We are a global alternative investment firm focused on the middle market segment, specializing in resilient sectors across select regions. We are a leading asset manager in Latin America and have a strong presence in Europe, with combined assets under management (“ AUM”), of US$41.9 billion and US$31.8 billion as of December 31, 2024 and 2023, respectively. Fee-earnings AUM ("FEAUM"), which are the AUM on which we earn management fees, totaled US$ 32.9 billion and US$23.9 billion as of December 31 2024 and 2023, respectively. We seek to be the gateway for alternative investing in Latin America and the partner of choice for both global as well as local Latin American institutional and individual investors. We aim to serve our investors' needs by providing a diverse range of investment solutions that generate attractive risk-adjusted returns in order to help investors meet their specific portfolio objectives. To serve our clients needs, we offer a comprehensive and expanding array of investments strategies across major asset classes - private equity, infrastructure, credit, real estate, and public equities. We offer these strategies through a variety of product structures designed to meet our clients' investment goals and liquidity needs. Product structures, generally fall into the categories of drawdown funds, permanent capital listed vehicles and interval funds, open end funds, and separately managed accounts ("SMAs"), among others.

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  Table of Contents  

As an asset manager, investment performance is the core of our business and a fundamental driver of our growth, and we believe we have built a solid track record across our strategies. The 20-year pooled Net