Patria Investments Limited has announced the purchase of a 51% stake in Solis Investimentos, a Brazilian asset‑backed securities manager that specializes in collateralized loan obligations (CLOs). The deal will add roughly US$3.5 billion of fee‑earning assets under management (FEAUM) to Patria’s credit platform, raising its pro‑forma credit FEAUM to more than US$11.7 billion and making credit account for over 25% of Patria’s total fee‑earning AUM.
The transaction positions Patria as a leading credit manager in Latin America, where the Brazilian CLO market has grown at a compound annual growth rate of 35% over the past five years. By combining Solis’s strong origination, analysis, and monitoring capabilities with Patria’s regional expertise and access to global capital, the partnership is expected to accelerate growth in the Brazilian CLO space and enhance fee generation for both firms. Solis’s team of more than 100 professionals will remain in place, with offices in Fortaleza and São Paulo, ensuring continuity and local market knowledge.
Solis, founded in 2015 and led by Delano Macedo and Ricardo Binelli, has managed over 120 funds for more than 30,000 investors and has achieved a 45% compound annual growth rate in fund size since 2021. Moody’s Local Brasil has rated Solis for its well‑developed investment process, experienced professionals, and strong risk‑adjusted performance, underscoring the quality of the assets that will be added to Patria’s portfolio.
Patria’s Q3 2025 earnings report showed a 22% year‑over‑year increase in fee‑related earnings (FRE) to US$49.5 million, driven by higher fee income from its expanding credit platform and disciplined cost management. Distributable earnings rose 31% to US$46.9 million, reflecting the company’s ability to convert revenue growth into shareholder value while maintaining a healthy operating margin. The acquisition is expected to further strengthen Patria’s financial position and support its strategy of adding high‑margin, permanent‑capital vehicles.
José Augusto Teixeira, Partner at Patria, said the deal “helps us expand and further consolidate our leading position as a Credit platform in Latin America, while significantly strengthening our origination capabilities in a large, underserved, and rapidly growing market.” The partnership is expected to create synergies that will accelerate growth in the Brazilian CLO space and enhance fee generation for both firms.
The acquisition strengthens Patria’s competitive advantage in a market where institutional investors are increasingly seeking diversification outside of U.S. markets. With credit now representing a larger share of its AUM, Patria is better positioned to capture the upside of the expanding CLO market and to offer investors a broader range of high‑yield, low‑correlation assets. The deal also signals Patria’s confidence in the long‑term growth prospects of the Brazilian credit market and its commitment to building a robust, regionally focused credit platform.
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