Patria Investments announces divestment of ODATA, Entrevias

Patria Investments announced definitive agreements for the divestments of ODATA, a Brazilian data center service provider, and Entrevias, a toll road operator in the state of Sao Paulo. Together these transactions are expected to generate approximately $1.4 billion in proceeds for investors in Patria’s Infrastructure Fund III. ODATA is a data center service provider offering scalable, reliable and flexible IT infrastructure. It is among the fastest growing hyperscale data center platforms in the Latin America, with operational facilities strategically located across Brazil, Colombia, Mexico and Chile, as well as additional data centers currently under development across the region. Aligned Data Centers, a leading technology infrastructure company offering innovative, sustainable and adaptive Scale Data Centers and Build-to-Scale solutions for global hyperscale and enterprise customers, has entered into a definitive agreement to acquire ODATA from Patria Infrastructure Fund III and other selling stakeholders, marking its expansion into Latin America. On December 1, 2022, Patria also announced the divestment of 55% of its stake in Entrevias Concessionaria de Rodovias to VINCI, a world leader in concessions, energy and construction. Entrevias was created by Patria in 2017, and operates a 30-year concession encompassing 570 kilometers of toll roads that cross the state of Sao Paulo. The concession entailed significant capex investment by Patria to restore, enlarge and implement new technologies throughout the existing highway to improve the transportation matrix for both passengers and cargo, and foster the connection and development of surrounding regional economic centers. Patria’s Infrastructure Fund III will continue to own the remaining 45% of Entrevias. The divestment of ODATA and Entrevias will bring cumulative distributions to fund investors to approximately $2 billion, surpassing a full return of capital, and bringing the fund near to the performance hurdle threshold, beyond which it enters the "100% catch up" phase and can begin realizing the accrued performance fees.