Patria Investments reports Q3 distributable EPS 23c vs. 23c a year ago

Alex Saigh, Patria’s CEO, said: “Q3 2024 was another exciting quarter for Patria as Fee Earning AUM reached $34B representing year-over-year and sequential growth of 58% and 9% percent, respectively. We also delivered $34.9M of distributable earnings or 23c per share and remain confident in reaching our 2024 FRE target of $170M as well as our 2025 target of $200M to $225M. The highlight of the quarter was our robust organic fundraising of over $2B, led by our credit business and our GPMS platform, and we’ve raised more than $4.2B year to date through the end of 3Q, putting us on track to meet or exceed our $5B fundraising target for 2024. Over the last 12 months and as of 3Q, we raised over $5.6B, all organically. Our fundraising success, which is being driven by investment platforms that did not exist at the time of our IPO just under four years ago, highlights how the increased diversification of our platform and the investments we are making in distribution and new product development are translating into stronger and more diverse growth for the firm, leaving us very excited about what lies ahead.”