Patria Investments Raises $670M for Secondary Opportunities Fund V, 34% Above Target
PAX•Patria Investments closed its Secondary Opportunities Fund V with over USD 670m in commitments, exceeding its USD 500m target by over one-third. The fund drew 55% renewals and 45% new capital from investors across North America (50%), Europe (40%), Latin America, Middle East and Asia-Pacific.
1. Fundraise Exceeds Initial Target
Patria Investments secured over USD 670 million for its Secondary Opportunities Fund V, closing more than one-third above the original USD 500 million target. This milestone represents a significant increase over its predecessor fund and underscores strong market demand for private equity secondaries.
2. Investor Base and Regional Breakdown
Existing Patria clients accounted for approximately 55% of SOF V commitments, while new investors contributed the remaining 45%. North America led with over 50% of total commitments, followed by Europe at about 40%, and smaller allocations from Latin America, the Middle East and Asia-Pacific.
3. Strategy and Market Opportunity
The fund focuses on mid-market private equity secondaries, targeting off-market or hard-to-access assets via LP-led and GP-led transactions. Patria’s tenured team leverages deep manager relationships and regional expertise to acquire high-quality assets in less competitive situations.
4. Early Transactions and Outlook
SOF V has already completed several attractive off-market deals and continues to see robust deal flow. The firm plans to deploy capital selectively into smaller-sized secondary opportunities that align with its European and North American lower-middle market focus.
