Patria Investments, a Brazilian private equity firm, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Backed by Blackstone, Patria is one of the leading private markets investment firms in Latin America in terms of capital raised, with over $7.8 billion raised in the past five years. As of September 30, 2020, its AUM was $12.7 billion.
The company's operations are based out of São Paulo, Brazil, with a corporate business office in the Cayman Islands. Founded in 1988, the firm booked $118 million in revenue for the 12 months ended September 30, 2020, with net income of about $65 million. It plans to list on the Nasdaq under the symbol PAX. Patria Investments filed confidentially on October 1, 2020. J.P. Morgan, BofA Securities and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
