Patria Investments Signs Agreement to Acquire Credit Suisse’s Real Estate Business in Brazil
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$ 650 million (~US$ 130 million). The transaction is structured with R$ 300 million (~US$ 60 million) due upon completion of standard regulatory approvals, and up to an additional R$ 350 million (~$US 70 million) incrementally conditioned to the successful shareholder approval process and transfer of underlying real estate funds. The funds are listed on the Brazilian stock exchange, and together would add up to R$ 12 billion (~US$ 2.4 billion) in assets under management to Patria’s Real Estate platform.