Patria Investments reports Q4 EPS 58c, consensus 35c

Alex Saigh, Patria’s CEO, said: “The Q4 capped a very exciting and transformational year for Patria. We raised $5.5B in 2024, inclusive of $300M in our Advisory business, exceeding our $5B target. A wide variety of strategies and products, most of which did not exist at the time of our IPO four years ago, contributed to our fundraising. Our Fee Earning AUM reached $33 billion representing year-over-year growth of 38%, and we achieved our target FRE of $170M for the full year, reflecting 15% year-over-year growth. Also, we generated Performance Related Earnings, or PRE, of $41M, primarily reflecting the sale of Aguas Pacifico, a highly successful infrastructure investment in our Infrastructure Fund III. Overall, driven by strong FRE growth and PRE, we delivered $89M of Distributable Earnings or 58c per share in the quarter and $189M or $1.24 per share for the full year.