Patria Investments Limited announced it will acquire RBR Gestão de Recursos Ltda., a Brazilian asset‑management firm that currently oversees 12 listed Real Estate Investment Trusts (REITs). The transaction will bring roughly US$1.5 billion of fee‑earning assets under management (FEAUM) into Patria’s real‑estate platform.
The deal will make Patria the largest manager of listed REITs in Brazil, adding exposure to office, logistics, credit, multi‑asset and urban retail strategies. After the transaction, Patria’s real‑estate FEAUM will rise to US$8.5 billion pro‑forma, representing a compound annual growth rate of more than 65% since the company’s IPO in January 2021—a growth trajectory that has driven the firm’s high‑margin, permanent‑capital model.
Patria expects the acquisition to close in the first quarter of 2026 and to be accretive to both fee‑related earnings (FRE) and distributable earnings (DE) in the first year. The addition of RBR Gestão’s assets will strengthen Patria’s high‑margin, permanent‑capital model and broaden its geographic footprint beyond its historic Brazil focus.
Management highlighted the strategic importance of scale. Rodrigo Abbud, Patria’s Head of Real Estate in Brazil, said the deal positions the company as the leading REIT manager in Brazil and will drive continued growth in a market where scale is key.
The transaction also expands Patria’s exposure to credit and multi‑asset strategies, which have higher fee‑earning potential than traditional office or retail REITs. By consolidating its REIT business, Patria aims to capture more of the fee stream and improve operating leverage.
While the deal’s financial terms are not disclosed, the transaction is expected to add approximately US$1.3 billion in FEAUM to Patria’s portfolio, consistent with the reported 12 listed REITs managed by RBR Gestão. The move is projected to enhance Patria’s fee‑earning profile and support its long‑term growth strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.