Patria Investments announced it has agreed to acquire WP Global Partners, a U.S.-based private equity solutions manager focused on the lower middle market, in a move aimed at deepening Patria’s North American footprint and strengthening its middle-market primary, secondary, and co-investment capabilities.
Founded in 2005 with offices in New York City and Chicago, WP has 30 employees, including more than 10 investment professionals, and has deployed more than $6 billion across sectors, according to the announcement. Patria said integrating WP’s team would expand its U.S. presence and enhance both investment and fundraising capacity, complementing its existing private equity solutions franchise.
Financial terms include an all-cash base price “equivalent to 1.7% of” fee-earning assets under management, plus an all-cash earn-out tied to performance metrics and payable in 2029. Patria said the transaction is expected to be accretive to both fee-related earnings and distributable earnings in the first year.
Upon closing, Patria said WP’s approximately $1.8 billion of fee-earning AUM would lift Patria’s pro forma Global Private Markets Solutions fee-earning AUM to more than $13.3 billion as of 3Q25, with nearly 40% of investments in U.S. assets. Patria framed the deal as part of a broader diversification strategy across private markets offerings, including infrastructure, credit, and real estate.
Support: Advisers on the transaction included Latham & Watkins as legal adviser to Patria, Raymond James & Associates as financial adviser to WP, and Hogan Lovells as legal adviser to WP.
KEY QUOTES
“This is an important step forward in bringing to Patria a talented team with a proven track record and strong reputation. This transaction immediately broadens the universe of GPs in our ecosystem and strengthens our product offering across private equity primaries, secondaries and co-investments in the U.S. lower middle market.”
Marco D’Ippolito, Managing Partner
“After carefully evaluating potential partners for WP’s next chapter, Patria stood out for its entrepreneurial culture, diversified global platform and strong focus on mid-market private equity. I feel confident that Patria will provide our team and clients with an excellent home to continue serving our clients effectively.”
Donald Phillips, Chairman and CEO, WP Global Partners
