Patria Investments (PAX)
Manages private equity, infrastructure, credit, real estate, and investment solutions across three regions.
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Manages private equity, infrastructure, credit, real estate, public-equity, and private-markets-solutions strategies across Latin America, Europe, and the United States. Revenue comes mainly from management fees on third-party capital, supplemented by incentive and performance fees, while most fee-earning assets have limited or no redemption rights.
Manages alternative-investment funds and accounts across private equity, infrastructure, credit, real estate, public equities, and Global Private Markets Solutions. The core franchise sources middle-market investments in Latin America, while GPMS adds private-equity primaries, secondaries, and co-investments across Europe and the United States. Recent acquisitions have broadened U.S. solutions and Brazilian credit capabilities.
Earns mainly recurring management fees on committed, invested, or net-asset-value-based fee-earning assets, plus incentive and performance fees when fund terms are met. Its operating model combines local investment teams with institutional fundraising and multiple vehicle types, including closed-end funds, permanent-capital vehicles, open-end funds, and separately managed accounts. Revenue growth depends on raising and deploying third-party capital and realizing investments; most fee-earning assets are held in vehicles with limited or no redemption rights.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Citigroup | Downgrade | Rating: — | |
| Sep 9, 2026 | Wells Fargo | Target | Target: — | Target: $10 |
| Sep 9, 2026 | Bank of America Securities | Downgrade | Rating: — | |
| Apr 24, 2026 | Goldman Sachs | Target | Target: $20 | Target: $18 |
| Jan 28, 2026 | Goldman Sachs | Reiterate | Rating: —Target: — | Target: $20 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $113.5M · Total debt $595.5M · Total assets $1.82B · Shareholders' equity $563.1M
- Revenue
- $115.9M
- Operating income
- $29.7M
- Net income
- $10.5M
HistoryDividendAnnual yield
| Institutions | 31.89% | 51.47M ADS | |
|---|---|---|---|
| 156 holders · as of Jun 30, 2026 | |||
| Strategic holders | 50.75% | 81.90M ADS | |
| 1 holder · as of Feb 1, 2022 | |||
| Other | 17.36% | 28.00M ADS | |
| remainder | |||
161.37M ADS as of Sep 15, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
The share count has not been confirmed by a second filing; stakes use it as it stands.
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
LimitedStrategic | 50.75% | 81.90M | filed Feb 1, 2022 |
Capital Research Global InvestorsInstitution | 4.83% | 7.79M A ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 4.23% | 6.83M A ADS | as of Jun 30, 2026 |
Endure Capital Management, LLCInstitution | 3.95% | 6.37M A ADS | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 3.63% | 5.85M A ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 6, 2026 | Marco Nicola D'Ippolito | officer: CEO of Global Private Markets | −7,004 | $11.29 |
| Apr 14, 2026 | Marco Nicola D'Ippolito | officer: CEO of Global Private Markets | −7,500 | $11.56 |
| Jun 3, 2026 | Olimpio Matarazzo Neto | director | +50,000 | $11.13 |
| Jun 5, 2026 | Olimpio Matarazzo Neto | director | +50,000 | $11.46 |
| May 28, 2026 | Olimpio Matarazzo Neto | director | +15,000 | $11.50 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Patria Investments | $10.43 | +0.51% | $1.67B | 23.1 | 7.2 | 3.9 | −0.0% |
| Vinci Compass Investments | $9.36 | −1.32% | $605.0M | 9.9 | 11.7 | 1.9 | +7.0% |
| Brookfield Asset Management | $46.45 | +0.49% | $73.80B | 26.9 | 23.0 | 13.7 | +58.7% |
| Blackstone | $125.06 | −1.07% | $152.70B | 28.1 | 19.5 | 9.5 | +2.4% |
| Hamilton Lane | $87.26 | −1.22% | $4.91B | 13.5 | 12.6 | 5.7 | +56.5% |
| XP | $20.98 | +0.94% | $10.87B | 10.5 | 11.4 | 2.9 | +16.7% |
| Median | 13.5 | 12.6 | 5.7 | +16.7% |