Business
Patria Reports Third Quarter 2021 Earnings Results
GRAND CAYMAN, Cayman Islands, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the third quarter ended September
About this update from Patria Investments Limited
[{"type":"text","content":"GRAND CAYMAN, Cayman Islands, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the third quarter ended September 30, 2021. The full detailed presentation of Patria's third 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: “Our results for the 3rd quarter demonstrate the earnings impact of strong capital deployment in the first half of 2021, and that we are on track to deliver more than $75 million in Fee Related Earnings and $1.00 per share of Distributable Earnings for the full year. We also took a major first step in our M&A growth strategy with the announcement of our combination with Moneda Asset Management. Our portfolio continues to deliver great performance and visible progress on our business plans, and we are well positioned for growth in 2022.” Financial Highlights (reported in $ USD) Patria IFRS results for Q3 2021 included net income of $21.5 million. Patria generated Fee Related Earnings of $21.8 million in Q3 2021, up 24% from $17.6 million in Q2 2021, with an FRE margin of 58%. Distributable Earnings were $22.5 million for Q3 2021, or $0.165 per share. Dividends Patria has declared a quarterly dividend of $0.140 per share to record holders of common stock at the close of business on December 2, 2021. This dividend will be paid on December 16, 2021. Conference Call Patria will host its third quarter 2021 earnings conference call via public webcast on November 18, 2021 at 9:00 a.m. ET. To register and join, please use the following link: https://edge.media-server.com/mmc/p/oggk226v 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$15.1 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 Equ...