Patria Private Equity Trust – equity proposition

Patria Private Equity Trust (PPET) invests in a diversified portfolio of private equity (PE) funds and direct investments in private companies (through co-investments and single-asset secondaries). It partners with around 15 leading PE managers and provides exposure to over 600 underlying portfolio companies. PPET offers a quarterly dividend, which has grown in value every year since 2010, and the manager charges a flat management fee of 95bp with no performance fee on top, which is unlike most PE investment trusts. PPET’s annualised NAV total return of 14.1% to end-March 2025 over the last 10 years was ahead of both the MSCI Europe Small Cap Index and the UK All-Share Index, and broadly in line with its close PE peers.

We highlight four reasons why PPET represents a compelling investment case:

1. One of PPET’s core strengths is its long-term relationships with high-conviction general partners.
2. PPET offers quality exposure to the PE mid-market.
3. The portfolio has a high share of less cyclical sectors.
4. PPET has been growing its direct investments portfolio in recent years.