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Patria Reports Fourth Quarter & Full Year 2022 Earnings Results
GRAND CAYMAN, Cayman Islands, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the fourth quarter and full year
About this update from Patria Investments Limited
[{"type":"text","content":"GRAND CAYMAN, Cayman Islands, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the fourth quarter and full year ended December 31, 2022. The full detailed presentation of Patria's fourth quarter and full year 2022 results can be accessed on the Shareholders section of Patria’s website at https://ir.patria.com/. Alex Saigh, Patria’s CEO, said: “Patria generated strong results for the 4th quarter and full year 2022, delivering our FRE guidance for 50% annual growth, as well as performance fees during a challenging year for global markets. We believe we are uniquely positioned as a gateway for alternative investments in Latin America, with the talent and resources in place to execute on the multi-year targets shared at our recent Investor Day event.” Financial Highlights (reported in $ USD) IFRS results included $46.5 million of net income attributable to Patria in Q4 2022 and $93.0 million for the full year. Patria generated Fee Related Earnings of $35.3 million in Q4 2022, up 20% from $29.3 million in Q4 2021, with an FRE margin of 58%. For the full year 2022, Patria generated Fee Related Earnings of $130.0 million, up 51% from 86.0 million in 2021, with an FRE margin of 57%. Distributable Earnings were $53.3 million for Q4 2022, or $0.36 per share, and $147.1 for the full year, or $1.00 per share. Dividends Patria has declared a quarterly dividend of $0.308 per share to record holders of common stock at the close of business on March 1, 2023. This dividend will be paid on March 22, 2023. Conference Call Patria will host its fourth quarter and full year 2022 earnings conference call via public webcast on February 14, 2023 at 9:00 a.m. ET. To register and join, please use the following link: https://edge.media-server.com/mmc/p/8zkkn696 For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria’s website at https://ir.patria.com/ shortly after the call’s completion. About Patria Patria is a leading alternative investment firm focused on Latin America, with over 30 years of history and combined assets under management of $27.2 billion, and a global presence with offices in 10 cities across 4 continents. Patria aims to provide consistent returns in attractive long-term investment opportunities that allow for portfolio diversifica...