Business
Patria Investments Completes Combination with Moneda Asset Management
Transaction enhances the product offering, expands geographic reach, diversifies currency exposures, and improves distribution, benefiting clients and fueling
About this update from Patria Investments Limited
[{"type":"text","content":"Transaction enhances the product offering, expands geographic reach, diversifies currency exposures, and improves distribution, benefiting clients and fueling growth\nGRAND CAYMAN, Cayman Islands, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Patria Investments (“Patria”) (NASDAQ: PAX), a global alternative asset manager, announced today that it has completed the previously announced combination with Moneda Asset Management (“Moneda”), a leading asset manager headquartered in Chile. The transaction creates a combined asset manager with nearly $25 billion in assets under management, and solidifies the leading Private Equity, Infrastructure and Credit platforms in Latin America. “With this combination we are joining together two outstanding partnerships as one,” said Alex Saigh, Patria’s CEO. “For more than two decades, Patria and Moneda have built respected brands, and each earned the trust of investors as a conduit for investing in Latin America. We welcome our new partners to this journey, as together we create the premier comprehensive platform for alternative investments in the region.” The combination enhances Patria’s product offering by adding the largest credit investment platform in Latin America, where Moneda manages more than $5 billion and has generated market leading performance. Moneda also manages more than $450 million in private credit investments, adding to more than $200 million managed by Patria, creating the foundation to pursue private credit product development in the region. Moneda also adds a high-performing public equities portfolio, and including Patria’s Constructivist Equity Fund (PIPE) will total $2.4 billion in public equities AUM. Within this portfolio, the combination creates the largest Constructivist Equity/PIPE manager in the region with approximately $800 million in assets under management, combining localized expertise in both Brazil and Chile. Complementary investor bases totaling more than 400 institutional clients present a significant cross selling opportunity for Moneda’s products, which will continue to carry the respected Moneda brand, offering Patria’s global institutional investors access to attractive yield-oriented products in the region. “We are very excited to complete the joining of two fantastic firms, and begin this next chapter of growth together,” said Alfonso Duval, Moneda’s CEO. “Patr...