Patria Investments Limited announced an agreement to acquire a 51% stake in Solis Investimentos, a leading Brazil-based manager focused on Asset Backed Securities and CLO structures. The transaction adds approximately $3.5 billion in fee-earning assets under management to Patria’s platform. It strengthens its position in the fast-expanding CLO market, which has grown at an annual compound rate of 35% over the last five years.
Once the deal closes, the added fee-earning AUM will increase Patria’s Credit platform by more than 40% on a pro forma basis, bringing the total to over US$11.7 billion as of the third quarter of 2025. Credit will represent more than one quarter of Patria’s total fee-earning AUM after the acquisition.
The transaction also sets the stage for Solis to accelerate its next growth phase by connecting its origination, analysis, and monitoring capabilities with Patria’s regional and global capital network. Founded in 2015 by Delano Macedo and Ricardo Binelli, Solis has established itself as a leading force in Brazil’s CLO segment, supported by strong market relationships and diversified investor access.
Solis focuses on originating and managing closed-end CLOs for institutional investors, as well as commingled evergreen allocator CLO fund-of-funds serving both institutional and wealth management clients. More than 100 professionals will continue in their current roles across offices in Fortaleza and São Paulo. The firm’s partners will continue leading operations following the acquisition.
Solis currently manages over 120 funds and serves more than 30,000 investors. Its funds have collectively grown at an approximate 45% annual rate since 2021, exceeding the broader market’s 35% average. Patria expects the transaction to be accretive within the first year.
KEY QUOTES
“This strategic acquisition 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. We see significant structural tailwinds supporting the growing penetration of non-bank, asset-backed instruments like CLOs as solutions to companies’ and individuals’ demand for credit. Solis’ expertise in large-scale origination, analysis and monitoring is highly complementary to our business. We will combine Solis’ speed and technical capability with Patria’s sector intelligence and access to global and local capital to strengthen both platforms and better serve clients and businesses.”
José Augusto Teixeira, Partner, Patria Investments
“Solis is recognized by the market as the Brazilian home of CLOs, thanks to the expertise of its professionals in creating solutions for investors. Although our strategy remains the same, in this new phase the company continues its journey of sustainable growth, with even greater potential to create vehicles for those seeking the security of CLOs in their portfolio allocation strategies.”
Ricardo Binelli, Partner, Solis Investimentos
“The DNA of Solis that brought us here will be respected and preserved. From the perspective of borrowers, where we have stood out by creating customized solutions, it is important to emphasize that we will achieve significant reach gains through integration, combining Patria’s strength in the market with everything we have been building, further enhancing Solis’s presence as a leader in structuring CLOs.”
Delano Macedo, Partner, Solis Investimentos
