Patria Investments, a global alternative asset manager, and Moneda Asset Management, an asset manager headquartered in Chile, agreed to combine operations creating an investment platform with USD25.9 billion in assets under management dedicated to Latin America, the companies announced in a statement distributed by PR Newswire.
The combined platform will manage USD9.7 billion in Private Equity, USD5.5 billion in credit, USD 5.1 billion in infrastructure, USD2 billion in advisory & distribution, US$ 3.0 billion in PIPE and public equities and USD500 million in real estate investments, according to the statement.
“Our leadership team is thrilled that both companies are coming together,” said Alexandre Saigh, Patria’s CEO. “We are quickly delivering on the expansion strategy that we presented during our initial public offering earlier this year. The transaction will be accretive to earnings per share within the first year,” he added.
Cayman Islands-based Patria , a company listed in Nasdaq under PAX, manages USD15.8 billion in assets a portfolio of more than 55 companies with ten offices in the world’s major financial centers. Moneda has more than USD10 billion of assets under management and a portfolio of credit and equities, with offices in Santiago, New York and Buenos Aires. The company was founded by its three partners in 1994 with the support of the International Finance Corporation.
The transaction is subject to regulatory approvals and certain other customary conditions and expected to close by the end of 2021, the companies said.
Patria retained JP Morgan Chase & Co, as financial advisor, Simpson Thacher & Barlett LLP, as transaction counsel, and Carey Abogados, as Chilean counsel. Moneda retained Servicios Financieros Altis S.A., as financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP, as transaction counsel, and Barros & Errazuriz Abogados, as Chilean counsel.
Patria will host a conference call on Tuesday, September 7, 2021 at 9:00 am (Eastern Time) to discuss the transaction. The conference call can be accessed via webcast on the Events section of Patria’s IR website at https://ir.patria.com.