Patria Investments Limited (NASDAQ:PAX) Q2 2023 Earnings Conference Call August 3, 2023 9:30 AM ET

Company Participants

Josh Wood - Head of Shareholder Relations

Alex Saigh - Chief Executive Officer

Marco D’Ippolito - Chief Corporate Development Officer

Ana Russo - Chief Financial Officer

Luis Fernando Lopes - Chief Economist

Conference Call Participants

Craig Siegenthaler - Bank of America.

Tito Labarta - Goldman Sachs

Ricardo Buchpiguel - BTG Pactual

Yuri Fernandes - JPMorgan

William Barranjard - Itau BBA

Operator

Good day, and thank you for standing by. Welcome to the Patria Second Quarter 2023 Earnings Call. At this time, all participants are in listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Josh Wood, Head of Shareholder Relations.

Josh Wood

Thank you. Good morning everyone and welcome to Patria's second quarter 2023 earnings call. Speaking today on the call are our Chief Executive Officer, Alex Saigh; our Chief Financial Officer, Ana Russo; and our Chief Corporate Development Officer, Marco D'Ippolito; and we are also joined by our Chief Economist, Luis Fernando Lopes for the Q&A session.

This morning, we issued a press release and earnings presentation detailing our results for the second quarter 2023, which you can find posted on our Investor Relations website or on Form 6-K filed with the Securities and Exchange Commission. Any forward-looking statements made on this call are uncertain, do not guarantee future performance and undue reliance should not be placed on them.

Patria assumes no obligation and does not intend to update any such forward-looking statements. Such statements are based on current management expectations and involve inherent risks, including those discussed in the Risk Factors section of our latest Form 20-F annual report.

Also note that no statements on this call constitute an offer to sell or a solicitation of an offer to purchase an interest in any Patria form. As a foreign private issuer, Patria reports financial results using International Financial Reporting Standards or IFRS as opposed to US GAAP.

Additionally, we will report and refer to certain non-GAAP industry measures, which should not be considered in isolation from or as a substitute for measures prepared in accordance with IFRS. Reconciliations of these measures to the most comparable IFRS measures are included in our earnings presentation.

On headline metrics, Patria generated distributable earnings of $43.6 million or $0.295 per share for 2Q 2023 including fee-related earnings of $33.8 million and performance-related earnings of $10.7 million. We declared a quarterly dividend of $0.251 per share, payable on September eight to shareholders of record as of August 16th.