Lindsey Shemma

Lindsey Shemma questioned Patria's decision to maintain its 2026 fundraising guidance, which implies a slight decrease, asking about potential risks, reasons for the conservative stance, and any upside potential. She also asked about the contribution of Patria's own fund of funds to its overall fundraising.

Answer

Alexandre Saigh (CEO, Patria) stated that the maintained guidance is a conservative approach to ensure Patria meets its three-year $21 billion organic fundraising target, expressing confidence in current momentum and potential for future upward revision. Marco D'Ippolito (Managing Partner and Chief Strategy and Corporate Development Officer, Patria) clarified that Patria does not have a fund of funds investing in its own funds, but a listed trust contributed $75 million to a secondary fund. Saigh further elaborated on geographical fundraising performance, noting overperformance in LatAm, Asia Pacific, and the Middle East, attributing LatAm's appeal to geopolitical shifts, strong democracies, and economic fundamentals.

Lindsey Shemma followed up by asking about continued international interest in Latin America, identifying specific regions showing the most interest, and where Patria expects incremental fundraising to originate.

Answer

Alexandre Saigh, CEO of Patria, noted continued overperformance in fundraising from Latin America, Asia Pacific, and the Middle East, with Europe performing as expected and the U.S. underperforming. He attributed this to geopolitical shifts benefiting LatAm, highlighting the region's solid democracies, institutional frameworks, balanced fiscal budgets, high renewable energy, and rich commodity resources, expressing optimism for increased capital flows.