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Hot Stocks
Patria: Infrastructure Fund III reaches performance fee realization threshold » 07:13
01/10/23
01/10
07:13
01/10/23
07:13
PAX

Patria Investments

$14.26 /

+0.13 (+0.92%)

Patria Investments…

Patria Investments confirmed today that Patria Infrastructure Fund III, through divestment activity in 6 portfolio companies and additional portfolio cash flows, has reached its return of capital and performance hurdle necessary to monetize performance fees. In December 2022, Patria announced definitive agreements for the divestment of ODATA, a Brazilian data center service provider, and partial divestment of Entrevias, a toll road operator in the state of Sao Paulo, which follows the sale of 4 additional portfolio companies in prior periods. The progress of this portfolio to date reflects Patria's commitment to investing across relevant Latin American infrastructure sectors to address structural bottlenecks and generate positive impact to the economy and population. It also illustrates the power of Patria's strategic approach to infrastructure investment in the region, demonstrating the ability to develop, de-risk and sell high-quality assets to global strategic players, and generate attractive returns for investors. Combined with the addition of incremental portfolio cash flows in December, cumulative proceeds to the Fund's investors are expected to reach approximately $2.1 billion, surpassing the Fund's performance fee realization hurdle. Distributions from recent activity are expected to generate at least $15 million in net realized performance fees to be recognized in the fourth quarter of 2022. Patria's Infrastructure Fund III is a $1.7 billion 2013 vintage fund which has invested in 10 portfolio companies. Based on valuations as of September 30, 2022, the Fund has achieved a gross multiple of invested capital of 2.1x and a net IRR of 13%, resulting in $127 million of Net Accrued Performance Fees. Following the recent activity, the Fund's remaining portfolio of 5 active investments is performing well and also positioned for divestment over the next few years.

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PAX Patria Investments
$14.26 /

+0.13 (+0.92%)

PAX Patria Investments
$14.26 /

+0.13 (+0.92%)

01/02/23 Keefe Bruyette
Apollo Global downgraded to Market Perform from Outperform at Keefe Bruyette
09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$14.26 /

+0.13 (+0.92%)

Over a month ago
Downgrade
Apollo Global downgraded to Market Perform from Outperform at Keefe Bruyette » 18:32
01/02/23
01/02
18:32
01/02/23
18:32
APO

Apollo Global

$63.80 /

+0.255 (+0.40%)

, OWL

Blue Owl Capital

$10.62 /

-0.03 (-0.28%)

, CG

Carlyle Group

$29.85 /

-0.38 (-1.26%)

, KKR

KKR

$46.42 /

-0.315 (-0.67%)

, ARES

Ares Management

$68.38 /

-0.28 (-0.41%)

, PX

P10

$10.71 /

+0.37 (+3.58%)

, PAX

Patria Investments

$13.94 /

+0.07 (+0.50%)

, BX

Blackstone

$74.22 /

-0.53 (-0.71%)

Keefe Bruyette analyst…

Keefe Bruyette analyst Michael Brown downgraded Apollo Global to Market Perform from Outperform with a $77 price target. The analyst recommends a cautious approach to the alternative managers in 2023, based on his expectation "for many of 2022's frictions to persist into 2023." Brown narrowed his Outperform recommendations, resulting in downgrades of Apollo, Blue Owl Capital (OWL) and Carlyle Group (CG) to Market Perform. KKR (KKR) is his top pick, and he continues to recommend Outperform rated Ares Management (ARES), P10 (PX), and Patria Investments (PAX). Brown also offers a pair trade recommendation of overweight KKR, underweight Blackstone (BX). Volatile macro conditions, including interest rates and spreads, "could continue to be a source of friction, impacting the alternative asset flywheel," Brown tells investors in a research note. He says this concern will likely continue to weigh on near-term stock performance. The analyst cites the recent relative outperformance in Q4 for the three downgrades.

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PX P10
$10.71 /

+0.37 (+3.58%)

PAX Patria Investments
$13.94 /

+0.07 (+0.50%)

OWL Blue Owl Capital
$10.62 /

-0.03 (-0.28%)

KKR KKR
$46.42 /

-0.315 (-0.67%)

CG Carlyle Group
$29.85 /

-0.38 (-1.26%)

BX Blackstone
$74.22 /

-0.53 (-0.71%)

ARES Ares Management
$68.38 /

-0.28 (-0.41%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

12/19/22 Barclays
Apollo Global price target raised to $78 from $73 at Barclays
11/15/22 Deutsche Bank
Apollo Global price target raised to $83 from $81 at Deutsche Bank
11/03/22 Barclays
Apollo Global price target raised to $73 from $65 at Barclays
11/03/22 Deutsche Bank
Apollo Global price target raised to $81 from $78 at Deutsche Bank
OWL Blue Owl Capital
$10.62 /

-0.03 (-0.28%)

11/08/22 Deutsche Bank
Blue Owl Capital price target raised to $17 from $16 at Deutsche Bank
10/18/22 Credit Suisse
Blue Owl Capital initiated with a Neutral at Credit Suisse
10/14/22 Piper Sandler
Blue Owl Capital initiated with an Overweight at Piper Sandler
10/12/22 Deutsche Bank
Blue Owl Capital price target lowered to $16 from $19 at Deutsche Bank
CG Carlyle Group
$29.85 /

-0.38 (-1.26%)

12/22/22 Credit Suisse
Carlyle's CEO search difficulty well priced in, says Credit Suisse
11/15/22 Deutsche Bank
Carlyle Group price target raised to $35 from $33 at Deutsche Bank
11/15/22 UBS
Carlyle Group price target lowered to $31 from $40 at UBS
11/09/22 Deutsche Bank
Carlyle Group price target lowered to $33 from $36 at Deutsche Bank
KKR KKR
$46.42 /

-0.315 (-0.67%)

11/15/22 Deutsche Bank
KKR price target raised to $65 from $62 at Deutsche Bank
11/15/22 BofA
BofA starts 'complicated' Crescent Energy at Neutral
11/02/22 BofA
KKR upgraded to Buy at BofA on 'asymmetrical upside potential'
11/02/22 BofA
KKR upgraded to Buy from Neutral at BofA
ARES Ares Management
$68.38 /

-0.28 (-0.41%)

12/19/22 Barclays
Ares Management price target lowered to $82 from $90 at Barclays
11/15/22 UBS
Ares Management price target raised to $95 from $78 at UBS
11/14/22 BMO Capital
Ares Management downgraded to Market Perform from Outperform at BMO Capital
11/01/22 RBC Capital
Ares Management price target raised to $93 from $83 at RBC Capital
PX P10
$10.71 /

+0.37 (+3.58%)

12/19/22 Barclays
P10 price target lowered to $14 from $15 at Barclays
10/10/22 Barclays
P10 price target lowered to $14 from $15 at Barclays
08/31/22 Barclays
P10 initiated with an Overweight at Barclays
04/13/22 Oppenheimer
P10 price target lowered to $13 from $14 at Oppenheimer
PAX Patria Investments
$13.94 /

+0.07 (+0.50%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
BX Blackstone
$74.22 /

-0.53 (-0.71%)

12/21/22 Piper Sandler
Blackstone price target lowered to $111 from $114 at Piper Sandler
12/19/22 Barclays
Blackstone price target lowered to $80 from $90 at Barclays
12/05/22 BMO Capital
Blackstone price target lowered to $90 from $109 at BMO Capital
12/02/22 Morgan Stanley
Morgan Stanley says Blackstone share reaction to BREIT redemption cap 'overdone'
PX P10
$10.71 /

+0.37 (+3.58%)

PAX Patria Investments
$13.94 /

+0.07 (+0.50%)

OWL Blue Owl Capital
$10.62 /

-0.03 (-0.28%)

KKR KKR
$46.42 /

-0.315 (-0.67%)

CG Carlyle Group
$29.85 /

-0.38 (-1.26%)

BX Blackstone
$74.22 /

-0.53 (-0.71%)

ARES Ares Management
$68.38 /

-0.28 (-0.41%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

  • 02
    Jun
OWL Blue Owl Capital
$10.62 /

-0.03 (-0.28%)

KKR KKR
$46.42 /

-0.315 (-0.67%)

CG Carlyle Group
$29.85 /

-0.38 (-1.26%)

BX Blackstone
$74.22 /

-0.53 (-0.71%)

ARES Ares Management
$68.38 /

-0.28 (-0.41%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

OWL Blue Owl Capital
$10.62 /

-0.03 (-0.28%)

KKR KKR
$46.42 /

-0.315 (-0.67%)

CG Carlyle Group
$29.85 /

-0.38 (-1.26%)

BX Blackstone
$74.22 /

-0.53 (-0.71%)

ARES Ares Management
$68.38 /

-0.28 (-0.41%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

PX P10
$10.71 /

+0.37 (+3.58%)

KKR KKR
$46.42 /

-0.315 (-0.67%)

BX Blackstone
$74.22 /

-0.53 (-0.71%)

APO Apollo Global
$63.80 /

+0.255 (+0.40%)

Hot Stocks
Patria Investments announces divestment of ODATA, Entrevias » 08:55
12/13/22
12/13
08:55
12/13/22
08:55
PAX

Patria Investments

$13.46 /

-0.2 (-1.46%)

Patria Investments…

Patria Investments announced definitive agreements for the divestments of ODATA, a Brazilian data center service provider, and Entrevias, a toll road operator in the state of Sao Paulo. Together these transactions are expected to generate approximately $1.4 billion in proceeds for investors in Patria's Infrastructure Fund III. ODATA is a data center service provider offering scalable, reliable and flexible IT infrastructure. It is among the fastest growing hyperscale data center platforms in the Latin America, with operational facilities strategically located across Brazil, Colombia, Mexico and Chile, as well as additional data centers currently under development across the region. Aligned Data Centers, a leading technology infrastructure company offering innovative, sustainable and adaptive Scale Data Centers and Build-to-Scale solutions for global hyperscale and enterprise customers, has entered into a definitive agreement to acquire ODATA from Patria Infrastructure Fund III and other selling stakeholders, marking its expansion into Latin America. On December 1, 2022, Patria also announced the divestment of 55% of its stake in Entrevias Concessionaria de Rodovias to VINCI, a world leader in concessions, energy and construction. Entrevias was created by Patria in 2017, and operates a 30-year concession encompassing 570 kilometers of toll roads that cross the state of Sao Paulo. The concession entailed significant capex investment by Patria to restore, enlarge and implement new technologies throughout the existing highway to improve the transportation matrix for both passengers and cargo, and foster the connection and development of surrounding regional economic centers. Patria's Infrastructure Fund III will continue to own the remaining 45% of Entrevias. The divestment of ODATA and Entrevias will bring cumulative distributions to fund investors to approximately $2 billion, surpassing a full return of capital, and bringing the fund near to the performance hurdle threshold, beyond which it enters the "100% catch up" phase and can begin realizing the accrued performance fees.

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PAX Patria Investments
$13.46 /

-0.2 (-1.46%)

PAX Patria Investments
$13.46 /

-0.2 (-1.46%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.46 /

-0.2 (-1.46%)

Conference/Events
Patria Investments to host investor day » 12:25
12/05/22
12/05
12:25
12/05/22
12:25
PAX

Patria Investments

$13.14 /

-0.43 (-3.17%)

Investor Day to be held…

Investor Day to be held in New York on December 5 at 1 pm. Webcast Link

ShowHide Related Items >><<
PAX Patria Investments
$13.14 /

-0.43 (-3.17%)

PAX Patria Investments
$13.14 /

-0.43 (-3.17%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.14 /

-0.43 (-3.17%)

Conference/Events
Patria Investments to host investor day » 04:55
12/05/22
12/05
04:55
12/05/22
04:55
PAX

Patria Investments

$13.61 /

+0.03 (+0.22%)

Investor Day to be held…

Investor Day to be held in New York on December 5 at 1 pm. Webcast Link

ShowHide Related Items >><<
PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

Conference/Events
Patria Investments to host investor day » 17:29
12/04/22
12/04
17:29
12/04/22
17:29
PAX

Patria Investments

$13.61 /

+0.03 (+0.22%)

Investor Day to be held…

Investor Day to be held in New York on December 5 at 1 pm. Webcast Link

ShowHide Related Items >><<
PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.61 /

+0.03 (+0.22%)

Hot Stocks
Patria Investments acquires Igah Ventures in Latin America » 16:48
12/01/22
12/01
16:48
12/01/22
16:48
PAX

Patria Investments

$13.55 /

-0.065 (-0.48%)

Patria Investments…

Patria Investments launched a new Venture Capital strategy, anchored by the acquisition of Igah Ventures. Igah's business complements Patria's existing Private Equity and Growth Equity strategies, which are focused on relatively mature companies, by adding investment expertise in startups and early-stage companies. Igah Ventures has been operating since 2013 with three funds raised from local and international investors, having contributed to startups such as Infracommerce, Contabilizei, Unico, Avenue and Conexa Saude. Overall, the investment management company currently has $320M in total AUM and about $140M in fee earning AUM. Patria has acquired 100% of Igah Ventures, with the closing of the transaction also now completed. Consideration structure consists of an upfront cash payment, equity to be paid in the form of PAX Class A shares over the course of the next twelve months, as well as an earnout component contingent on meeting certain fundraising targets. Specific financial terms of the transaction are not being disclosed. Igah is expected to be profitable on an FRE basis looking forward, with the ability to scale with the raising of the upcoming fourth vintage fund.

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PAX Patria Investments
$13.55 /

-0.065 (-0.48%)

PAX Patria Investments
$13.55 /

-0.065 (-0.48%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.55 /

-0.065 (-0.48%)

Over a quarter ago
Earnings
Patria Investments reports Q3 distributable EPS 20c, consensus 21c » 06:04
11/03/22
11/03
06:04
11/03/22
06:04
PAX

Patria Investments

$14.35 /

-0.24 (-1.64%)

Alex Saigh, Patria's…

Alex Saigh, Patria's CEO, said: "Patria's results for the third quarter reflect progress in our key growth drivers and the resilience of our business model through today's challenging environment. We have raised more than $2.7 billion this year across a diverse range of products and our year-to-date Fee Related Earnings are up 67% compared to the prior year as we remain on track to reach our FRE guidance for 2022."

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PAX Patria Investments
$14.35 /

-0.24 (-1.64%)

PAX Patria Investments
$14.35 /

-0.24 (-1.64%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$14.35 /

-0.24 (-1.64%)

Hot Stocks
Patria Investments names incoming CFO Ana Russo » 16:33
09/19/22
09/19
16:33
09/19/22
16:33
PAX

Patria Investments

$13.68 /

+0.035 (+0.26%)

Patria Investments …

Patria Investments announced that Ms. Ana Russo will join the firm on October 3 as incoming Chief Financial Officer and member of Patria's Management Committee. Mr. Marco Nicola D'Ippolito, who has been serving as Chief Financial Officer since January 2017, will then begin a transition process to transfer oversight of Patria's fund administration, finance, accounting, planning and technology functions to Ms. Russo, with the goal of Ms. Russo fully assuming the role of Chief Financial Officer by January 1, 2023. Mr. D'Ippolito will thereafter assume the role of Chief Corporate Development Officer and allocate his time to develop Patria's organic and inorganic growth strategies, evolving to the leadership of a new business vertical. In addition, he will continue to lead Patria's shareholder relations. To ensure a smooth handover and transition, Ms. Russo and Mr. D'Ippolito will work closely together until the end of the current year.

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PAX Patria Investments
$13.68 /

+0.035 (+0.26%)

PAX Patria Investments
$13.68 /

+0.035 (+0.26%)

09/07/22 BofA
BofA reinstates Patria Investments with a Neutral, $17 target
09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.68 /

+0.035 (+0.26%)

Initiation
BofA reinstates Patria Investments with a Neutral, $17 target » 06:57
09/07/22
09/07
06:57
09/07/22
06:57
PAX

Patria Investments

$13.84 /

+0.16 (+1.17%)

As previously reported,…

As previously reported, BofA analyst Craig Siegenthaler reinstated coverage of Patria Investments with a Neutral rating and $17 price target. Patria is the largest private markets asset manager in Latin America and its scaled private equity, credit and infrastructure businesses focus on the major markets from Brazil to Mexico while the company raises significant capital from the largest limited partners outside of LatAm in North America, Asia and Europe, Siegenthaler said. The fundraising backdrop has become more challenging in 2022, but this is temporary and Patria is less impacted than US private equity funds, Siegenthaler added.

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PAX Patria Investments
$13.84 /

+0.16 (+1.17%)

PAX Patria Investments
$13.84 /

+0.16 (+1.17%)

09/07/22 BofA
Patria Investments reinstated with a Neutral at BofA
PAX Patria Investments
$13.84 /

+0.16 (+1.17%)

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