Patria Announces Launch of Infrastructure Private Credit Fund Anchored by BNDES, CAF and IFC

New fund will have the capacity to invest R$1 billion at inception, focused on sectors with high social impact, and will be able to raise additional capital from regional banks, institutional investors, and international development agencies

GRAND CAYMAN, Cayman Islands, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Patria Investments Limited (“Patria”) (NASDAQ: PAX), a global alternative asset manager and market leader in Latin America, announces the launch of its Infrastructure Private Credit fund (“The Fund”), which has already raised R$1 billion (or approximately US$ 200 million) from BNDES (the Brazilian Development Bank), CAF (Development Bank of Latin America and the Caribbean), IFC (International Finance Corporation, a member of the World Bank Group), and other institutional investors. Focused on areas that directly impact the energy transition as well as the Brazil's economic and social development, such as renewable energy, basic sanitation and urban mobility, the Fund aims to raise up to R$5 billion (or approximately US$1 billion) in the long term, mainly from institutional investors.

"The investment strategy combines the skills and expertise of two important areas within Patria - Infrastructure and Private Credit. The launch of this fund consolidates our position as one of the most important investors in both areas and is aligned with our goal to continuously contribute to the development of the country," says José Augusto Teixeira, Partner and Commercial Head of Patria in Brazil. “The Fund also plans to support projects from the Growth Acceleration Program (PAC), a Brazilian Federal Government program.”

For Patria, which is a significant investor in long-term projects with high social impact, the partnership with major financial development institutions operating in Brazil is of paramount importance to make funds like this viable. The institutions supporting the Fund play a critical role in providing long-term development capital in Brazil, especially in areas such as infrastructure, always seeking investments that promote innovation, create new jobs and strengthen the overall economy.

"IFC's investment in the new Patria fund will contribute to increase access to and improve the quality of infrastructure services through private sector participation in capital markets. This is essential for economic growth in a context of limited fiscal space for public investments," said Carlos Leiria Pinto, IFC's Brazil Country Manager.