Business
Patria Reports Second Quarter 2021 Earnings Results
GRAND CAYMAN, Cayman Islands, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the second quarter ended June 30,
About this update from Patria Investments Limited
[{"type":"text","content":"GRAND CAYMAN, Cayman Islands, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the second quarter ended June 30, 2021. The full detailed presentation of Patria's second quarter 2021 results can be accessed on the Shareholders section of Patria’s website at https://ir.patria.com/. Alex Saigh, Patria’s CEO, said: “We’re very excited with our progress since the IPO, with nearly all of our key metrics running ahead of our expectations from the beginning of this year. We are deploying capital faster, which is accelerating earnings growth, as well as our fundraising timelines. Our Q2 results continue to demonstrate impressive rates of revenue and FRE growth, and we are delivering an attractive yield to shareholders with the realization of performance fees.” Financial Highlights (reported in $ USD) Patria IFRS results for Q2 2021 included net income of $73.4 million. Patria generated Fee Related Earnings of $17.6 million in Q2 2021, up 19% from $14.9 million in Q2 2020, with an FRE margin of 55%. Distributable Earnings were $74.2 million for Q2 2021, or $0.545 per share, which includes $56.4 million of Performance Related Earnings (“PRE”). Dividends Patria has declared a quarterly dividend of $0.463 per share to record holders of common stock at the close of business on September 2, 2021. This dividend will be paid on September 16, 2021. Conference Call Patria will host its second quarter 2021 earnings conference call via public webcast on August 19, 2021 at 9:00 a.m. ET. To register and join, please use the following link: https://edge.media-server.com/mmc/p/66bsf8ek 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 investment firm in Latin America’s growing private markets, with over 30 years of history, combined assets under management of US$15.8 billion, and a global presence with 10 offices across 4 continents. Patria aims to provide consistent returns in attractive long-term investment opportunities that allow for portfolio diversification through its flagship Private Equity and Infrastructure products, as well as its Country-specific products including Real Estate, Credit and Listed Equities. Through its investm...