Patria Investments has announced the acquisition of WP Global Partners, a U.S.-based private equity solutions manager specializing in the lower-middle market. The transaction strengthens Patria’s local presence in the United States and expands its investment and fundraising capabilities in a market the company considers strategic.
With the completion of the transaction, assets under management (FEAUM) in Patria’s Global Private Markets Solutions (GMPS) segment exceed $13.3 billion, based on pro forma data from the third quarter of 2025. Approximately 40% of investments will now be allocated to assets in the United States.
Founded in 2005 and with offices in New York and Chicago, WP Global Partners has around 30 employees, including more than ten investment professionals, and has already invested over $6 billion across various sectors. The addition of WP’s team and capabilities complements Patria’s private equity solutions business, particularly in primary, secondary, and co-investment strategies.
According to Marco D’Ippolito, Managing Partner at Patria, the transaction broadens the firm’s investment platform. “This is an important step in bringing on board a talented team with a proven track record and strong reputation. The transaction immediately expands our private equity partner universe and enhances our offering in primary, secondary, and co-investment strategies within the U.S. lower-middle market,” he stated.
Donald Phillips, Chairman and CEO of WP Global Partners, emphasized the strategic alignment between the two firms. “After a careful evaluation of potential partners for WP’s next chapter, Patria stood out for its entrepreneurial culture, diversified global platform, and strong focus on the middle market in private equity. I am confident Patria will provide our team and clients with a solid foundation to continue serving our investors effectively,” he said.
The transaction is structured as an all-cash deal, with a base price equivalent to 1.7% of FEAUM, plus an earnout payment in cash subject to performance targets, expected in 2029. Patria stated that the transaction is expected to be accretive to both fee-related earnings (FRE) and distributable earnings (DE) in the first year after closing.
With the addition of approximately $1.8 billion in FEAUM from WP, Patria strengthens its global diversification strategy. The firm now manages over $51 billion in assets across five main asset classes, offering more than 35 investment strategies and over 100 products, supported by 37 years of experience.
Further details on the transaction can be found in the Investor Relations section of Patria’s website. Latham & Watkins served as legal advisor to Patria, while Raymond James & Associates acted as financial advisor. WP Global Partners was advised by law firm Hogan Lovells.
