Patria Investments signed an agreement for the acquisition of Credit Suisse’s Real Estate business in Brazil for total cash consideration of up to R$650M, around $130M. The transaction is structured with approximately $60M due upon completion of standard regulatory approvals, and up to an additional $70M incrementally conditioned to the successful shareholder approval process and transfer of underlying real estate funds. The funds are listed on the Brazilian stock exchange, and together would add up to $2.4B in assets under management to Patria’s Real Estate platform. The funds represent permanent capital AUM with significant scale, with four funds each having a market capitalization over R$1.5B. Patria has now more than $3B in real estate assets under management as of November 2023.
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