Patria Investments Limited · NASDAQ:PAX
Patria Investments — Q4 2024 Earnings Presentation
28 slides from Patria Investments's earnings presentation, Feb 12, 2025
Slide 1: 4Q24 Earnings Presentation
February 12, 2025 PATRIA INVESTMENTS (NASDAQ: PAX) 4Q24 Earnings Presentation
Slide 2: Disclaimer
PAX 4Q24 Earnings Presentation Disclaimer
Slide 3: Patria Reports Fourth Quarter & Full Year 2024 Results
PAX 4Q24 Earnings Presentation Patria Reports Fourth Quarter & Full Year 2024 Results Dividends Conference About Shareholder Call Patria Relations Contacts
Slide 4: Patria's Fourth Quarter & Full Year 2024 IFRS Results
PAX 4Q24 Earnings Presentation Patria’s Fourth Quarter & Full Year 2024 IFRS Results IFRS Net Income attributable to Patria was $56.8 million for 4Q24 and $73.4 million for the full year 2024
Slide 5: Message from Patria's CEO
PAX 4Q24 Earnings Presentation Message from Patria’s CEO - Alex Saigh
Slide 6: Patria's Fourth Quarter 2024 Summary
PAX 4Q24 Earnings Presentation Patria’s Fourth Quarter 2024 Summary
Slide 7: Patria's Fourth Quarter & Full Year 2024 Summary
PAX 4Q24 Earnings Presentation Patria’s Fourth Quarter & Full Year 2024 Summary • Financial • Measures • • • • Key Business • • Metrics • • • Corporate Actions & Recent • Developments •
Slide 8: Patria's Fourth Quarter & Full Year 2024 Earnings
PAX 4Q24 Earnings Presentation Patria’s Fourth Quarter & Full Year 2024 Earnings Distributable Earnings (“DE”) of $89.1 million in 4Q24 and $189.2 million for the full year 2024 (US$ in millions) 4Q23 4Q24 FY 2023 FY 2024
Slide 9: Total Fee Revenues & Fee Related Earnings (FRE)
PAX 4Q24 Earnings Presentation Total Fee Revenues & Fee Related Earnings (“FRE”) +41% • Total Fee Revenues Operating +97% Expenses • Fee Related Earnings +18% FRE Margin (%) 71% 59% +25% Total Fee Revenues • Operating Expenses +40% Fee Related Earnings +15% FRE Margin (%) 61% 57%
Slide 10: Net Accrued Performance Fee
PAX 4Q24 Earnings Presentation Net Accrued Performance Fee • • • Net Accrued Performance Fees (USD in millions) 3 9 4Q24 Composition by Fund 541 455 (40) (23) (23) (11) 0 358 (39) 47 319 US$ 124 319 mn 4Q23 3Q24 PE V PE VI IS IV IS III Others1 4Q24 Realized 4Q24 136 (2015) (2019) (2018) (2013) Befor
Slide 11: Total Assets Under Management
PAX 4Q24 Earnings Presentation Total Assets Under Management + US$ US$ +32% $41.9bn • 35.7 6.2 bn bn • Fair Value Uncalled Capital 31.8bn of Investments $ Capital Formation • • • • 4Q23 4Q24
Slide 12: Fee Earning Assets Under Management
PAX 4Q24 Earnings Presentation Fee Earning Assets Under Management • +38% $32.9bn 4Q24 Mgmt. Fee Revenue Breakdown Per Strategy $ 23.9bn US$ 81.4 mn • 4Q23 4Q24
Slide 13: Key Fee Characteristics By Investment Vertical
PAX 4Q24 Earnings Presentation Key Fee Characteristics By Investment Vertical Frequency of Currency Exposure Effective Mgmt. Asset Class FEAUM by Structure Fee Basis Duration NAV Calculation Hard / Soft (%) Fee Rate Private Equity Infrastructure Credit Real Estate Public Equities GPMS
Slide 14: Total AUM Roll Forward
PAX 4Q24 Earnings Presentation Total AUM Roll Forward Private Equity Infrastructure Credit Public Equities Real Estate GPMS Advisory Total Private Equity Infrastructure Credit Public Equities Real Estate GPMS Advisory Total
Slide 15: Total FEAUM Roll Forward
PAX 4Q24 Earnings Presentation Total FEAUM Roll Forward Private Equity Infrastructure Credit Public Equities Real Estate GPMS Advisory Total Private Equity Infrastructure Credit Public Equities Real Estate GPMS Advisory Total
Slide 16: Investment Performance – Drawdown Funds
PAX 4Q24 Earnings Presentation Investment Performance – Drawdown Funds Committed Deployed Total Unrealized Realized Total (in Thousands, Except Where Noted) Net Returns Capital + Reserved Invested Investments Investments Value Fund (Vintage) Total Value Value Value Value Gross MOIC Net IRR Net IRR %
Slide 17: Investment Performance – REITs
PAX 4Q24 Earnings Presentation Investment Performance – REITs As of Dec 24 Returns in local currency - Since Inception AUM M IFIX (BR) 1 / Inception Functional AUM M Total Return Market Ticker Fund Name Strategy (Functional IPC(COL) Year Currency (USD) (Annualized) Comparison Currency) (Annualized)
Slide 18: Investment Performance – GPMS
PAX 4Q24 Earnings Presentation Investment Performance – GPMS Primaries Secondaries Co-Investments²
Slide 19: Investment Performance – Credit & Public Equities
PAX 4Q24 Earnings Presentation Investment Performance – Credit & Public Equities Functional Strategy Compounded Annualized Net Returns Excess Return Asset Class Strategy 2024 Currency AUM (USD Mn) 1yr 3yr 5yr Since Incep. Since Incept. Credit Public Equities
Slide 20: Reconciliations & Disclosures
PAX 4Q24 Earnings Presentation Reconciliations & Disclosures
Slide 21: Share Summary
PAX 4Q24 Earnings Presentation Share Summary (US$ in millions) 4Q23(1) 1Q24(2) 2Q24(3) 3Q24 4Q24(4)
Slide 22: Patria's Earnings – Quarter View
PAX 4Q24 Earnings Presentation Patria’s Earnings – 5 Quarter View (US$ in millions) 4Q23 1Q24 2Q24 3Q24 4Q24 FY 2022 FY 2023 FY 2024
Slide 23: Reconciliation of IFRS to Non-GAAP Measures
PAX 4Q24 Earnings Presentation Reconciliation of IFRS to Non-GAAP Measures (US$ in millions) 4Q23 1Q24 2Q24 3Q24 4Q24 FY 2022 FY 2023 FY 2024
Slide 24: IFRS Balance Sheet
PAX 4Q24 Earnings Presentation IFRS Balance Sheet (US$ in millions) 31-Dec-23 31-Dec-24 31-Dec-23 31-Dec-24
Slide 25: Notes
PAX 4Q24 Earnings Presentation Notes
Slide 26: Notes
PAX 4Q24 Earnings Presentation Notes
Slide 27: Definitions
PAX 4Q24 Earnings Presentation Definitions
Slide 28: Patria
PATRIA