Professional
Added to YB: 2026-01-28
Pitch date: 2026-01-26
PAX [bearish]
Patria Investments Limited
+14.89%
current return
Author Info
Snowcap Research is an activist investment and advisory firm based in London. We focus on mispriced opportunities in public markets where we seek to drive outsized returns and positive impact via active engagement. Visit their website.
Company Info
Patria Investments Limited operates as a private market investment firm. It specializes in investments in private equity, secondary direct and indirect and venture capital with focus in middle market, buyout and growth capital investments.
Market Cap
$2.7B
Pitch Price
$16.27
Price Target
N/A
Dividend
3.50%
EV/EBITDA
13.62
P/E
25.81
EV/Sales
7.07
Sector
Capital Markets
Category
N/A
Snowcap are SHORT Patria Investments
PAX (short): Brazilian alt asset mgr w/ $50B AUM masking losses in flagship PE/infra funds. Key holdings (52% of Fund IV NAV) like Elfa pharma distrib marked at 15x EV/EBITDA vs 4-6x peers despite bonds trading at 50¢/$1. Similar overvaluations across hospital chain (33x EBITDA), cold storage biz. Performance fees sustained by inter-fund transfers.
Read full article (25 min)