Patria Investments is an alternative asset manager focused on Latin America, with additional presence in Europe and the U.S. Founded in Brazil in 1988 and listed on Nasdaq since 2021, Patria manages $52.6B in total AUM across private equity, infrastructure, credit, real estate, public equities, and global private market solutions. Patria's core pitch is serving as the gateway for alternative investing in Latin America — connecting global institutional investors seeking Latin American exposure with local opportunities, while offering Latin American investors access to globally diversified alternatives. Patria earns management fees (typically 1.5%–2.0% per year on committed/invested capital for closed-end funds, or on NAV for open-end vehicles) and performance fees (15%–20% carried interest above a 6%–8% hurdle). The business is asset-light, with operating leverage as FEAUM grows — Patria targets FRE margins of 58%–60%. Since its 2021 IPO, growth has been primarily inorganic, with Patria acquiring managers across asset classes to build a multi-asset platform from what was originally a pure private equity and infrastructure manager. Patria's three-year plan (2025–2027) targets $70B of FEAUM by end of 2027 (vs. ~$41B today), driven by $21B of organic fundraising and ~$10B of additional M&A, with FRE of $260–$290M by 2027. Organic growth is led by infrastructure, credit, and global private market solutions.