Patria Investments Signs Agreement to Acquire Credit Suisse's Real Estate Business in Brazil
- Patria's acquisition adds significant scale to its Real Estate platform in Latin America, with a strong presence in Brazil, Colombia, and Chile, and more than US$ 3 billion in real estate assets under management as of November 2023. The acquisition also reinforces the attractive opportunities for asset management consolidation in the fragmented Brazilian market.
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Transaction allows Patria to further scale its Real Estate vertical through acquisition of team and funds totaling approximately R
GRAND CAYMAN, Cayman Islands, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Patria Investments Limited (“Patria”) (NASDAQ: PAX), a global alternative asset manager and market leader in Latin America, announces the signing of an agreement for the acquisition of Credit Suisse's Real Estate business in Brazil (“CSHG Real Estate”), for total cash consideration of up to R
The CSHG Real Estate platform is one of the most relevant players in the Brazilian REIT market, ranking top 5 in market share and investing across a diverse range of market strategies including Logistics, Retail, Office and Receivables. The funds represent permanent capital AUM with significant scale, with four funds each having a market capitalization over R
Patria has taken significant steps in recent years to scale its Real Estate platform in Latin America, now with a strong presence in Brazil, Colombia and Chile, and more than US
Patria’s Chief Executive Officer, Alex Saigh said: “This latest acquisition for our real estate business is a continuation of the M&A strategy we have conveyed since our IPO, and further exemplifies Patria’s capability as a consolidator of high-performing asset managers in Latin America. Upon execution of the various approval stages of this transaction, we would add additional permanent capital AUM, and continue to grow the real estate asset class as a key component of our diversified investment platform.”
Marcelo Fedak, partner and Head of Real Estate at Patria says: "We are very excited to welcome this talented investment team to Patria, and the funds in this platform are highly complementary to our existing real estate business in Brazil, which is through VBI Real Estate. The existing CSHG Real Estate team will continue to manage these funds, and this expansion gives us more comprehensive coverage of the largest and most relevant real estate sectors to offer an extensive menu of products to our clients."
The listed real estate funds (FIIs) market in Brazil now totals more than R
A presentation with additional information on the transaction will be posted to Patria’s Investor Relations website at ir.patria.com
UBS BB acted as exclusive financial advisor, and BMA Advogados as legal advisor to Credit Suisse on the transaction.
Pinheiro Neto Advogados and i2a legal served as legal advisor to Patria.
About Patria Investments
Patria is a global alternative asset manager and industry leader in Latin America, with over 35 years of history, combined assets under management of
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FAQ
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