Private Credit Bets Build at $46 Billion Money Manager Patria

Patria Investments Ltd., one of Latin America’s largest alternative asset managers, is accelerating its push into private credit.

The money manager has raised $314 million through vehicles including its first fund dedicated to private credit bets across the region, according to Javier Montero, a partner at Patria. Half of that money has already been deployed, as it lends US dollars to Latin American companies.

“The opportunity is huge,” Montero said in an interview in New York earlier this month. “Private credit has been growing exponentially after the 2008 crisis in developed markets, but it’s still underrepresented in Latin ...