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aid press release – inquiries should be directed to the distributor.
Patria Finance Limited’s acquisition of RBR Gestão de Recursos Ltda. (RBR Gestão) strengthens Patria’s standing as Brazil’s top listed REIT manager and expands its footprint in credit and multi‑asset strategies. Pro‑forma, permanent capital vehicles will represent roughly 22 % of total Fee‑Earning Assets under Management (FEAUM).
On December 11, 2025, Patria Investments Limited (NASDAQ: PAX), a global alternative asset manager, announced its agreement to acquire RBR Gestão. After an internal corporate reorganization, RBR Gestão will hold about US$1.5 bn of listed Real Estate Investment Trusts (REITs). The group currently manages 12 funds, 11 of which are listed REITs focused on Credit and Multi‑Asset strategies. Assets outside the transaction’s scope will be carved out and remain under other RBR Group entities.
The deal does not require shareholder or antitrust approval but is subject to customary conditions precedent. Once closed, Patria will lead Brazil’s listed REIT market, covering Office, Logistics, Credit, Multi‑Asset, and Urban Retail sectors. The addition of approximately US$1.3 bn in FEAUM will lift Patria’s total Real Estate FEAUM to US$8.5 bn pro‑forma for 3Q25, reflecting a CAGR of over 65 % since the 2021 IPO. Patria’s high‑margin Real Estate strategies—90 % in permanent capital vehicles—will account for more than 20 % of total FEAUM.
Rodrigo Abbud, Patria’s Head of Real Estate in Brazil, noted, “The acquisition of RBR Gestão and its 12 funds positions Patria as Brazil’s leading REIT manager, setting the stage for continued growth in a market where scale and performance are paramount.”
Transaction terms are undisclosed; the deal is expected to close in Q1 2026 and should be accretive to both FRE and DE in the first year. Further details will be posted in the Shareholders section of Patria’s website (https://ir.patria.com/).
Patria Investments is a global middle‑market alternative asset manager focused on resilient and growth sectors. With 37 years of experience and over US$51 bn in AUM, Patria is a leading manager in Latin America and maintains a strong European presence through extensive GP relationships. Its on‑ground expertise—combining investment leaders, sector specialists, and strategic partners—enables the identification of unique opportunities accessible only to those with local knowledge. Patria consistently delivers attractive long‑term returns while promoting inclusive, sustainable development in the regions it serves. More information is available at www.patria.com.
