Edison Releases Report on Patria Private Equity Trust

Edison Investment Research Limited has published a report on Patria Private Equity Trust (PPET). The private equity fund's recent performance is marked by increased distributions from its primary fund investments, attributed to a surge in private equity deal activity. The fund's portfolio valuations have been affirmed, with exits showing an average uplift of 23.3% over the first nine months of 2024.

A successful secondary sale of £180 million in October 2024, at a modest 5% discount to carrying value, improved both valuations and liquidity. Although PPET's 12-month net asset value (NAV) total return by the end of October 2024 was approximately 2%, its longer-term returns were more favorable, with five-year and 10-year NAV total returns of 15.0% and 14.6% per annum, respectively. Despite this, the current discount to NAV stands at 28%, exceeding the 10-year average of 24%.