Patria Investments reports Q1 EPS 21c, consensus 30c

CEO Alex Saigh said: “Q1 2024 marked a great start for the year, and I’m very pleased with the performance we delivered. We generated over $35M dollars of Fee Related Earnings in the quarter, representing a 13% increase from 1Q23. We delivered more than $31M dollars of Distributable Earnings, or 21c per share. We continue to grow and diversify our platform, both organically – as we raised $1.1B dollars year to date through April, and over $5.1B in the last twelve months, and inorganically – as we were thrilled to announce the closing of our acquisition of abrdn’s private equity solutions business this past Monday, and we saw good progress towards the closing of our pending acquisition of Credit Suisse’s real estate business in Brazil. With that, I am even more confident we will reach both our financial and AUM targets. We are comfortable in getting our Fee Related Earnings to at least $170M dollars this year, on the way to more than $200M in 2025.”