Patria Investimentos is Latin America’s largest independent asset manager, with over R$263 billion in total assets under management and more than R$23 billion allocated to real estate strategies. Historically focused on private equity and alternatives, Patria is increasingly positioning itself as a key player in Brazil’s listed FII market.
In 2024, Patria significantly expanded its REIT footprint by acquiring Credit Suisse’s Brazilian asset management business. This acquisition added several well-known FIIs to its portfolio and made Patria one of the leading FII managers in the country.
Patria’s real estate platform now includes some of the most widely held and traded FIIs in Brazil, with exposure across logistics (HGLG11), urban multi-use properties (HGRU11), corporate offices (LVBI11), and real estate credit (HGCR11). Many Patria-managed FIIs have significant weightings in both the IFIX index and the HERT11 ETF, though the firm notably does not manage any listed shopping FIIs.
The firm also manages other funds, including multi-strategy and specialized vehicles.
As of 2025, Patria continues to grow its presence in the public real estate market while maintaining a strong presence in private equity, infrastructure, and credit through its broader asset management platform.
You can visit Patria Investimento’s website here.
Last updated June 28, 2025.
🔍 Key FIIs Managed by Patria
| Ticker | Fund Name | Segment | Market Capitalization |
|---|---|---|---|
| HGLG11 | Patria Log FII | FIIs Logísticos | R$5.3B |
| HGRU11 | Patria Renda Urbana | Urban Real Estate | R$2.9B |
| PVBI11 | VBI Prime Properties | Escritórios | R$2.1B |
| LVBI11 | VBI Logistico | FIIs Logísticos | R$1.6B |
| HGCR11 | Patria Recebiveis Imobiliarios | CRI | R$1.4B |
| HGRE11 | Patria Escritorios | Escritórios | R$1.4B |
| CVBI11 | VBI CRI | CRI | R$0.9B |
| RVBI11 | VBI Reits Multiestrategia | Multi-Strategy | R$0.7B |
| BARI11 | XVBI Rendimentos Imobiliarios | CRI | R$0.4B |
| PATL11 | Patria Logistica | FIIs Logísticos | R$0.3B |
| HGPO11 | Patria Prime Offices | Escritórios | R$0.2B |
| HGFF11 | Patria Imobiliario FoF | Fund-of-Funds | R$0.2B |
Note: Patria may manage additional FIIs not included in this list. Only major publicly traded funds with material AUM or liquidity are shown.
📊 Real Estate Investment Strategy
Patria Investimentos does not follow a single unified REIT strategy. Instead, it manages a broad lineup of FIIs tailored to different market segments, asset classes, and investor objectives.
Some funds, like HGLG11 (logistics) and HGRU11 (urban income), focus on stabilized, income-generating assets with long-term, inflation-linked leases. Others, such as HGCR11 and CVBI11, emphasize real estate-backed credit (CRI) and hybrid strategies.
Since acquiring Credit Suisse’s Brazilian fund platform, Patria now has 12 FIIs in the IFIX index, cementing its role as Brazil’s largest independent FII manager.