Patria Investments announced an agreement to acquire WP Global Partners to strengthen its U.S. middle-market private equity capabilities.

Patria Investments Limited ("Patria") (NASDAQ: PAX), a global alternative asset manager, today announced an agreement to acquire WP Global Partners ("WP"), a U.S. based private equity solutions manager focused on the lower-middle-market. The acquisition strengthens Patria's local presence and investment capacity in North America and supports increasing global investor demand for middle-market private equity exposure.

Founded in 2005 with offices in New York and Chicago, WP has 30 employees, including more than ten experienced investment professionals and has deployed over six billion dollars across a variety of sectors. Integrating WP's capabilities and team expands Patria's U.S. presence, investment and fundraising capabilities, complementing its established Private Equity Solutions business and advancing the firm's global diversification strategy.

Patria has 37 years of experience with over $51bn of assets under management across a range of five core asset classes and has evolved from a product provider to a solutions provider and today manages more than 35 investment strategies across more than 100 products. The addition of WP's capabilities further accelerates Patria's global diversification strategy, adding to the firm's suite of infrastructure, credit and real estate funds and complementing the firm's portfolio of flagship closed-end and evergreen funds in private equity primaries and co-investments in developed markets.

Marco D'Ippolito, Managing Partner said: "This is an important step forward in bringing to Patria a talented team with a proven track record and strong reputation. This transaction immediately broadens the universe of GPs in our ecosystem and strengthens our product offering across private equity primaries, secondaries and co-investments in the U.S. lower middle market."

Donald Phillips, Chairman and CEO, WP Global Partners said: "After carefully evaluating potential partners for WP's next chapter, Patria stood out for its entrepreneurial culture, diversified global platform and strong focus on mid-market private equity. I feel confident that Patria will provide our team and clients with an excellent home to continue serving our clients effectively."

The transaction involves an all-cash base price equivalent to 1.7% of FEAUM and all cash earn out, subject to specific performance parameters to be paid in 2029. The transaction is expected to be accretive to both FRE and DE in the first year. Upon completion, the addition of WP's approximate US$1.8 billion of Fee-Earning AUM ("FEAUM") will increase Patria's pro-forma total GPMS FEAUM to more than $13.3 bn.

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