DCM Patria COF (IFC-39271)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 19, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PATRIA CREDITO ESTRUTURADO FUNDO DE INVESTIMENTO EM DIREITOS CREDITORIOS
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 5, 2018

Disclosed by Bank Nov 9, 2017


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Project Description

The proposed project involves supporting Pátria Investimentos Ltda. (the “Fund Manager” or “Pátria”) by investing in Pátria Crédito Estruturado Fundo de Investimento em Direitos Creditórios (the “Fund” or “Project”), a credit opportunity fund (“COF”). This capital market vehicle will mobilize local and international institutional investors and will provide long-term credits to domestic mid-size companies that are underserved by the local banking sector.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Pátria was founded in 2001 (successor to Banco Patrimônio, founded in 1988) by top seasoned professionals with extensive experience in the Brazilian M&A and Investment Banking sector, as well as Private Equity. Pátria was a pioneer in Private Equity in Brazil, and gradually expanded its portfolio with the creation of new businesses in Infrastructure, Real Estate, Credit, PIPE and Agribusiness. Blackstone, a global leader in alternative investments management, has been a major partner of Pátria since 2010 with a 40% shareholding interest.

The Fund Manager is deeply committed and has the ultimate strategic goal of developing the COF industry, creating an attractive asset class for local institutional investors to increase their diversification benefits and enhance the risk return of their portfolios, while increasing the access to finance of mid-size companies.

Pátria is 60% owned by a group of Brazilian individuals, including Olímpio Matarazzo Neto, Alexandre Saigh and Otavio Castelo Branco Neto, who together form the firm’s Executive Committee, and 40% owned by The Blackstone Group LP.

Contact Information

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