Patria reported Fee Related Earnings (FRE) of $40.6 million for the third quarter of 2024, marking a 13% increase compared to the third quarter of 2023. The company's FRE margin stood at 53% for the quarter, reflecting efficient operations.
Distributable Earnings (DE) reached $34.9 million, or $0.23 per share, for Q3 2024. Fee-Earning Assets Under Management (FEAUM) grew to $34 billion, representing a 58% year-over-year increase and a 9% sequential rise.
Organic fundraising was robust, exceeding $2 billion in the third quarter, contributing to over $4.2 billion year-to-date. Patria reaffirmed its 2024 FRE target of $170 million and its 2025 target of $200 million to $225 million, demonstrating confidence in its growth trajectory. A quarterly dividend of $0.15 per share was declared.
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