Patria Investments expands US footprint with WP Global Partners business acquisition

Patria Investments has agreed to acquire U.S.-based WP Global Partners, a lower-middle-market private equity solutions firm, in an all-cash transaction designed to deepen Patria’s presence in the U.S. and broaden its private markets capabilities. The move strengthens Patria’s strategic position in the fast-growing middle-market investing space and enhances its ability to serve global institutional clients.

Details of the business acquisition and strategic rationale in private markets

Patria’s acquisition of WP Global Partners brings approximately $1.8 billion of fee-earning assets under management into the firm’s Global Private Markets Solutions (GPMS) business, propelling pro-forma FEAUM to more than $13.3 billion as of the third quarter of 2025. The deal reflects Patria’s ongoing effort to scale its operations in North America, where demand from institutional investors for middle-market private equity exposure remains strong.

The transaction will be structured with a base cash price equal to 1.7% of fee-earning assets under management, plus an additional cash earn-out contingent on performance metrics payable in 2029. Patria expects the acquisition to be accretive to both fee-related earnings and distributable earnings in the first year after closing. This anticipated financial uplift supports the company’s objective of enhancing profitability while diversifying revenue sources.

Leadership teams from both firms highlighted the cultural and strategic fit of the combination. Patria’s Managing Partner emphasized that bringing WP’s experienced team into its ecosystem broadens the firm’s network of general partners and strengthens its offerings across primary, secondary, and co-investment strategies. WP’s leadership also cited Patria’s diversified global platform and entrepreneurial culture as key factors in choosing a partner for the next phase of growth.

What WP Global brings to Patria’s private markets platform

Founded in 2005 with offices in New York and Chicago, WP Global Partners has built a reputation as a specialist in lower-middle-market private equity solutions, focusing on tailored investment strategies for institutional clients. Over its history, the firm has deployed more than $6 billion across a range of sectors, and its team of 30 professionals includes more than ten seasoned investment specialists. Integrating this expertise into Patria’s platform will help accelerate the firm’s U.S. growth strategy.

For Patria, the acquisition represents a continuation of a broader diversification strategy that already spans infrastructure, credit, real estate, and private equity primaries and co-investments. With a global footprint and more than three decades of experience in alternative asset management, Patria has evolved from primarily a product provider into a solutions-oriented firm with a diversified suite of investment offerings.

The transaction also includes advisory support from major financial and legal firms: Latham & Watkins LLP acted as legal advisor to Patria, Raymond James & Associates served as financial advisor, and Hogan Lovells US LLP provided legal counsel to WP in connection with the deal.

Patria’s acquisition of WP Global Partners marks a meaningful step in the firm’s strategic expansion in the United States, enhancing its ability to meet growing institutional demand for private market solutions. By combining complementary capabilities, increasing assets under management, and aligning experienced investment teams, Patria is positioning itself to compete more effectively in a competitive global alternative asset landscape. As the integration progresses, the transaction is expected to reinforce Patria’s diversified investment platform and support long-term value creation for clients and stakeholders.