Patria Investments Ltd is preparing to launch a new private credit fund targeting Latin America, as the firm looks to expand its footprint in the region’s growing alternative lending market, according to a report by Bloomberg.
The fund could reportedly raise more than $500m. The strategy is expected to focus on senior secured corporate lending and asset-backed structures, building on the firm’s inaugural private credit vehicle, which raised $314m in May 2025.
Private credit in Latin America accounts for less than 1% of the region’s approximately $2.3tn corporate credit market, according to a Patria white paper seen by Bloomberg, with institutional investors such as insurers and pension funds yet to scale meaningfully.
The firm reportedly believes that lower levels of competition in the region could allow lenders to negotiate stronger covenants, maintain wider pricing and secure more robust structural protections than in more established markets.
The São Paulo-headquartered manager oversees more than $50bn in assets under management and is also evaluating additional infrastructure opportunities across Latin America, alongside plans to open an office in Peru as part of its regional expansion strategy.
