Patria Investments Ltd. — Form 6-K Summary
Business Context and Reporting Period
Patria Investments Limited filed a Form 6-K on December 6, 2022, reporting its December 5, 2022 Investor Day presentation. Patria is an alternative investment firm focused on Latin America, with strategies including private equity, infrastructure, credit, public equities, and real estate.
The company reported combined assets under management of $26.5 billion and a global presence in 10 cities across four continents. The filing presents management targets through 2025 rather than quarterly or annual historical financial results.
Key Financial Metrics and Targets
| Metric | Target or reported amount |
|---|---|
| Total AUM by year-end 2025 | Approximately $50 billion |
| Fee-Earning AUM by year-end 2025 | Approximately $35 billion |
| Total capital formation, 2022–2025 | $20 billion, including organic and inorganic inflows |
| Fee Related Earnings in 2023 | $150 million |
| Fee Related Earnings by 2025 | $200 million to $225 million |
| Aggregate distributable earnings per share, 2023–2025 | $4.50 to $5.00 |
The filing does not provide clear values for revenue, net income, margins, operating cash flow, free cash flow, debt, liquidity, or historical comparative-period results.
Material Changes Versus the Prior Comparable Period
No prior-period financial comparisons or material historical changes are disclosed in the filing. The principal update is the publication of management’s 2025 outlook and associated 2023–2025 earnings targets.
Guidance, Outlook, Risks, and Unusual Items
- Management expects growth in total AUM and fee-earning AUM through 2025, supported by $20 billion of combined organic and inorganic capital formation.
- The outlook includes targets for Fee Related Earnings of $150 million in 2023 and $200 million to $225 million by 2025.
- Management targets aggregate distributable earnings of $4.50 to $5.00 per share over 2023–2025.
- All stated outlook figures are forward-looking and may differ materially from actual results.
- Risks include those described in Patria’s Form 20-F and subsequent SEC filings. The company states that the listed risk factors are not exhaustive and undertakes no obligation to update the forward-looking statements.
- No unusual, one-time, contingent, or legal items are identified in the provided filing text.
Important Facts for Investors to Verify
- Whether the approximately $50 billion total AUM and $35 billion fee-earning AUM targets remain achievable by year-end 2025.
- The composition, timing, and realization of the targeted $20 billion of organic and inorganic capital formation.
- Progress toward the 2023 and 2025 Fee Related Earnings targets.
- Definitions and calculation methodology for Fee Related Earnings, distributable earnings per share, total AUM, and fee-earning AUM.
- Current debt, liquidity, cash flow, profitability, and actual operating results, which are not provided in this filing.