Patria completes acquisition of private equity solutions business from abrdn

Patria Investments confirmed that it has completed the previously announced carve-out acquisition of a private equity solutions business from abrdn. The acquired platform, together with Patria’s existing global private markets vehicles, will form a new vertical – Global Private Markets Solutions, with an aggregate Fee Earning AUM of over $10 billion. This vertical will further develop Patria’s capabilities to serve clients as a gateway to private markets on a global scale. Marco D’Ippolito, Head of GPMS said: “We are thrilled to bring this transaction to a close and launch this new growth engine for Patria’s investment platform. Merrick and his team have built a great business with complementary strategies and a respected track record, and we believe they can thrive in leveraging Patria’s platform as we grow together.”