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Patria Investments to buy credit manager Moneda to expand Latin America footprint

Patria Investments to buy credit manager Moneda to expand Latin America footprint
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Patria Investments and Moneda Combine to Create Leading Private Equity, Infrastructure, Credit investment Platform in Latin America

/PRNewswire/ Patria Investments ("Patria") (NASDAQ: PAX), a global alternative asset manager, announced today that it will combine with Moneda Asset.

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CORRECTED-UPDATE 1-Blackstone-backed Patria eyes expansion in Latam, Asia

(Corrects name of Patria partner in fifth paragraph) SAO PAULO, Jan 22 (Reuters) - Brazilian asset manager Patria Investments Ltd, whose shareholders include Blackstone Group Inc, plans to use the proceeds of its $588 million initial public offering partly to expand in new emerging markets, executives said on Friday. Patria raised $326 million in the IPO and shareholders selling stakes will receive $262 million. Blackstone, which acquired a 40% stake in Patria ten years ago, will reduce its stake to 14%. Shares of Patria - which manages more than $14 billion in private equity, credit, real estate and infrastructure funds - were up 23% in their trading debut on Friday in late afternoon.

Sao pauloUnited statesOlimpio matarazzoTatiana bautzerMatthew lewisAlexandre saighSteve orlofskyThomson reuters trust principlesPatria investments ltdBlackstone group incExecutive officer alexandre saighLatin americaVinci partnersCarolina mandlSao paulo editingThomson reuters trust