Patria Investments announced the successful close of Patria Secondary Opportunities Fund V with more than $670 million in total commitments. The fund exceeded its initial $500 million target by more than one-third.
SOF V also represents a meaningful increase over the size of its predecessor, Patria Secondary Opportunities Fund IV. The fund attracted commitments from a diverse global investor base, including institutional investors, family offices, and private wealth channels.
Existing Patria clients and re-ups accounted for about 55% of SOF V commitments. New investors represented the remaining 45% of commitments.
The fund attracted capital from five regions. North America represented more than 50% of total commitments, followed by Europe at approximately 40%, with additional commitments from Latin America, the Middle East, and Asia-Pacific.
Patria said the secondaries market continues to benefit from strong long-term fundamentals. The market is being supported by continued private markets growth and rising demand from GPs and LPs for liquidity and portfolio management solutions.
SOF V is designed to capitalize on these dynamics through Patria’s established presence, experienced team, and deep relationships in the European and North American mid-markets. The fund is focused primarily on private equity secondary opportunities that are below the radar or harder to access.
Patria’s strategy includes both LP-led and GP-led transactions. The firm aims to use manager relationships and portfolio insights to acquire high-quality assets in less competitive circumstances.
SOF V has already completed several off-market deals. Patria said it continues to see attractive deal flow that aligns with the fund’s focus on smaller-sized secondary transactions, European assets, and lower-middle market private equity opportunities.
Patria Investments is a global alternative asset manager focused on the mid-market segment. The firm has more than 37 years of experience and over $59 billion in assets under management.
KEY QUOTES:
“The successful close of SOF V above its target is an important milestone for Patria’s secondaries strategy given the transition of our team into Patria just over two years ago. We are delighted with the support we have received from our existing investors throughout the fundraising process, and are really pleased to have attracted a number of significant new clients. Our selective approach focusing on smaller-sized secondary deals, with a strong weighting to European and lower-middle market private equity assets, has resonated well with investors in the current environment. SOF V has already completed a number of attractive off-market deals and we continue to see interesting deal flow that we are well placed to address out of our new fund.”
Patrick Knechtli, Partner and Head of Secondaries at Patria Global Private Markets Solutions
