Patria Investments (‘Patria’) has officially completed its acquisition of the private equity solutions business from abrdn Inc. (‘abrdn’), known as abrdn Private Equity. This strategic move positions Patria to create a new vertical, Global Private Markets Solutions (GPMS), which encompasses over $10 billion of Fee Earning Assets Under Management (FEAUM). The GPMS vertical is set to bolster Patria’s role as a principal gateway to private markets worldwide. The acquisition marks Patria’s first venture outside Latin America and integrates more than 50 professionals handling over $8 billion of FEAUM, engaged in primaries, secondaries, and co-investment strategies, primarily across the European and US middle markets. The deal cements both institutions’ reputations in institutional private equity markets while providing Patria with access to a robust client and general partner network. This transaction is also poised to enhance Patria’s distribution capabilities and its leading position in Latin America. Patria, an alternative asset manager with over 35 years of experience and over $40 billion in pro forma assets under management, operates across various asset classes such as Private Equity, Infrastructure, Credit, Public Equities, Real Estate, and now GPMS. With its operations spread across Latin America, Europe, and the United States, Patria aims to deliver consistent returns on resilient, long-term investment opportunities, ensuring sustainable societal value. The transaction details were first released mid-October, with extensive preparations ensuing to ensure seamless integration post-completion. The article also contains obligatory forward-looking statements cautioning about the inherent risks and uncertainties linked to such optimistic future projections.
Private Equity, Investment Management, Asset Management,Latin America, Europe, United States
https://www.globenewswire.com/news-release/2024/04/29/2871161/0/en/Patria-Investments-Completes-Acquisition-of-Private-Equity-Solutions-Business-from-abrdn-and-Expands-Its-Global-Private-Markets-Capabilities.html