Patria Investments Ltd (BSP:P2AX34)

Q3 2025 Patria Investments Ltd Earnings Call Transcript

Nov 4, 2025 / 02:00 PM GMT

Release Date Price: R$40.83 (+4.16%)

Transcript

Key Points

Positve

Patria Investments Ltd (PAX) achieved a significant milestone with assets under management exceeding $50 billion, over 3.5 times higher than at the time of their IPO in 2021.
The company reported strong organic fundraising, surpassing $1.5 billion in the third quarter and $6 billion year-to-date, indicating robust growth and investor confidence.
Fee-related earnings grew by 22% year over year, driven by solid fee-earning assets under management growth and margin expansion.
Patria Investments Ltd (PAX) successfully entered a total return swap to repurchase 1.5 million shares, demonstrating proactive capital management.
The company is on track to exceed its full-year fundraising target of $6.6 billion, with expectations to raise $21 billion from 2025 through 2027, showcasing strong future growth potential.

Negative

No performance-related earnings were generated in the third quarter, although future monetization events are expected to contribute to earnings.
The management fee rate is expected to trend towards 90 basis points, which could impact revenue if not offset by increased asset growth.
Operating expenses remained flat, indicating potential challenges in achieving further cost efficiencies.
The company's effective tax rate is expected to hover around 10% annually, which could impact net earnings.
There is a reliance on infrastructure Fund 3 for performance-related earnings through 2026, which may pose a risk if expected monetizations do not materialize.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PAX.OQ - Patria Investments Ltd
Q3 2025 Patria Investments Ltd Earnings Call
Nov 04, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to Patra's 3rd quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during this session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Andre Medina, from Patra Shareholder Relations. Please go ahead.

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