Business
Patria Reports Third Quarter 2022 Earnings Results
GRAND CAYMAN, Cayman Islands, Nov. 03, 2022 (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. 03, 2022 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the third quarter ended September 30, 2022. The full detailed presentation of Patria's third quarter 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’s results for the third quarter reflect progress in our key growth drivers and the resilience of our business model through today’s challenging environment. We have raised more than $2.7 billion this year across a diverse range of products and our year-to-date Fee Related Earnings are up 67% compared to the prior year as we remain on track to reach our FRE guidance for 2022.” Financial Highlights (reported in $ USD) IFRS results included $12.2 million of net income attributable to Patria in Q3 2022. Patria generated Fee Related Earnings of $31.7 million in Q3 2022, up 46% from $21.8 million in Q3 2021, with an FRE margin of 57%. Distributable Earnings were $29.7 million for Q3 2022, or $0.20 per share. Dividends Patria has declared a quarterly dividend of $0.171 per share to record holders of common stock at the close of business on November 15, 2022. This dividend will be paid on December 7, 2022. Conference Call Patria will host its third quarter 2022 earnings conference call via public webcast on November 3, 2022 at 10:30 a.m. ET. To register and join, please use the following link: https://edge.media-server.com/mmc/p/tvvm7j6c 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 $26.5 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 diversification through its Private Equity, Infrastructure, Credit, Public Equities and Real Estate products. Through its investments Patria seeks to transform industries and untangle bottlenecks, generating attractive returns for its investors, while creating sustainable value for society. Further inf...