The following is a summary of the Patria Investments Limited (PAX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Patria Investments reported strong Q3 2024 results with robust fundraising, achieving over $2 billion in the quarter and $4.2 billion year-to-date.

• Management fees for Q3 2024 were approximately $78 million, increasing by 26% year-over-year.

• Fee-related earnings for the quarter reached almost $41 million, up close to 13% year-over-year, with per-share earnings of $0.26.

• The distributable earnings for the quarter amounted to about $35 million, or $0.23 per share.

• Patria declared a quarterly dividend of $0.15 per share.

Business Progress:

• Patria showcased exceptional growth, particularly through strategic acquisitions and organic fundraising, emphasizing its expansion in Real Estate and Credit sectors.

• The conversion of Credit Suisse real estate assets and the closure of the Nexus transaction notably contributed to AUM growth.

• Patria's infrastructure strategies continue to show promise with significant deployment opportunities and potential performance fee generation from Infrastructure Fund III.

Opportunities:

• Patria's diverse asset management platform has enabled strong fundraising capabilities across different asset classes, contributing to a solid financial outlook for 2024 and 2025.

• Strategic partnerships, such as the one with the Saudi Ministry of Infrastructure, are poised to enhance Patria's infrastructure ventures in Latin America.

Risks:

• Patria's ongoing acquisitions contribute to an increase in operating expenses due to integration costs, potentially affecting profit margins in the short term.

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