Patria Investments Limited has agreed to acquire a 51% stake in Solis Investimentos, a Brazilian firm that structures and manages collateralised loan obligations, adding roughly $3.5 billion in fee-earning assets to Patria’s credit platform.
Patria said the deal will boost its credit fee-earning AUM by more than 40% to about $11.7 billion on a pro-forma basis, making credit more than a quarter of its total fee-earning assets as of the third quarter. The acquisition aims to broaden Patria’s reach in Brazil’s fast-growing CLO market, which the company said has expanded at a 35% compound annual rate over five years.
Founded in 2015 and headquartered in Fortaleza and São Paulo, Solis manages more than 120 funds for over 30,000 investors. Its partners — Delano Macedo and Ricardo Binelli — will continue to lead the firm, and its team of more than 100 staff members will remain in place after the transaction closes.
Patria partner José Augusto Teixeira said the acquisition strengthens the firm’s position in a “large, underserved and rapidly growing” credit market and complements Patria’s ability to source and monitor loans. Solis partners Binelli and Macedo said the deal preserves the firm’s strategy while expanding its capacity to originate and structure CLOs.
Solis’ funds have grown about 45% annually since 2021, outpacing broader market growth, the companies said. The transaction is expected to be accretive in its first year.
