Patria Investments to acquire 51% stake in Solis Investimentos

Patria Investments (PAX) announced the agreement to acquire 51% of Solis Investimentos, a Brazilian investment manager specializing in the structuring and management of CLOs. The CLO market in Brazil has been benefiting from a variety of structural and secular trends which have driven asset growth at a compound annual growth rat of 35% over the last 5 years. Upon completion of the transaction, the addition of Solis’ approximate $3.5B of Fee-Earning AUM will increase Patria’s total Credit FEAUM by over 40% to more than $11.7B pro-forma as of 3Q25, solidifying its position as a leading Credit platform in Latin America. Pro-forma for the transaction, Credit will account for over 25% of Patria’s total FEAUM. The partnership positions Solis for a new cycle of growth by connecting its high-quality credit origination, analysis, and monitoring capabilities to Patria’s platform, expanding its access to both local and global capital. Founded in 2015, and led by Delano Macedo and Ricardo Binelli, Solis is today a market leader in the CLO segment in Brazil, bolstered by strong market relationships, including robust access to capital and originators. Solis serves a diversified investor base, including asset managers, bank treasuries, family offices and other wealth management clients. Solis originates, structures, and directly manages closed-end CLOs in Brazil targeting institutional investors, in addition to managing commingled evergreen allocator CLO fund of funds, targeting both institutional investors and wealth management clients. Solis currently manages over 120 funds and serves more than 30,000 investors. On aggregate, Solis’ funds have grown at an approximate 45% CAGR since 2021, exceeding the market’s annual average of 35%. The transaction is expected to be accretive in the first year. Following the acquisition, the partners will continue to lead Solis. The team, comprising over 100 professionals, will remain in their current roles, with offices in Fortaleza and Sao Paulo, Brazil.