0001193125-21-175248 | 20-F/A | XBRL Viewer

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Cover Page	12 Months Ended
Cover Page	Dec. 31, 2020 shares
Document Information [Line Items]
Document Type	20-F/A
Amendment Flag	true
Amendment Description	This Amendment No. 1 to the annual report on Form 20-F of Patria Investments Limited (“Patria”, the “Company,” “we,” “our,” or “us”) amends the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 (the “Original 20-F”), which was filed with the U.S. Securities and Exchange Commission on April 28, 2021. The Company is filing this Amendment No. 1 solely to furnish the Interactive Data File disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T, which was not included in the Original 20-F. Exhibit 101 includes information about the Company in eXtensible Business Reporting Language (XBRL). This Amendment No. 1 consists solely of the cover page and this explanatory note. Except as described above, this Amendment No. 1 does not amend any information set forth in the Original 20-F, and the Company has not updated disclosures included therein to reflect any events that occurred subsequent to April 28, 2021. Accordingly, this Amendment No. 1 should be read in conjunction with the Original 20-F and with our filings with the U.S. Securities Exchange Commission subsequent to the Original 20-F.
Entity Registrant Name	Patria Investments Ltd
Entity Central Index Key	0001825570
Current Fiscal Year End Date	--12-31
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	PAX
Title of 12(b) Security	Class A common shares, par value US$0.0001 per share
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Address, Country	KY
Document Accounting Standard	International Financial Reporting Standards
Class A Common Share [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	54,247,500
Class B Common Share [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	81,900,000

Consolidated Statement Of Financial Position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 14,052	$ 4,120
Short term investments	9,929	33,030
Accounts receivable	24,022	11,007
Project advances	1,277	6,431
Other assets	3,703	1,785
Recoverable taxes	692	449
Current assets	53,675	56,822
Non-current assets
Accounts receivable	21,993	15,110
Deferred tax assets	2,338	6,004
Project advances	495	789
Other assets	540	540
Long term investments	1,986	3,669
Property and equipment	3,819	6,464
Intangible assets	22,357	25,457
Non current assets	53,528	58,033
Total assets	107,203	114,855
Current liabilities
Personnel and related taxes	12,802	14,082
Taxes payable	1,070	2,241
Dividends payable	23,259
Other liabilities	6,913	2,718
Current liabilities	44,044	19,041
Non-current liabilities
Personnel liabilities	1,527	1,530
Deferred tax liabilities	185	402
Other liabilities	2,374	5,135
Non-current liabilities	4,086	7,067
Equity
Capital	1	1
Additional paid-in capital	1,557	1,557
Retained earnings	62,001	85,483
Cumulative translation adjustment	(6,244)	(5,884)
Equity attributable to the owners of the Parent	57,315	81,157
Non-controlling interests	1,758	7,590
Equity	59,073	88,747
Total liabilities and equity	$ 107,203	$ 114,855

Consolidated Income Statement - USD ($) $ in Thousands	12 Months Ended
Consolidated Income Statement - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Profit or loss [abstract]
Revenue from services	$ 115,017	$ 123,215	$ 105,670
Cost of services rendered	(33,182)	(42,958)	(41,223)
Personnel expenses	(27,229)	(36,898)	(35,167)
Amortization of intagible assets	(5,953)	(6,060)	(6,056)
Gross profit	81,835	80,257	64,447
Operating income and expenses	(16,667)	(15,636)	(17,951)
Administrative expenses	(14,627)	(15,702)	(17,909)
Other income/(expenses)	(2,040)	66	(42)
Operating income before net financial income/(expense)	65,168	64,621	46,496
Net financial income/(expense)	(192)	(170)	(40)
Income before income tax	64,976	64,451	46,456
Income taxes	(3,136)	(3,513)	(1,992)
Net income for the year	61,840	60,938	44,464
Attributable to:
Owners of the Parent	62,209	58,539	43,669
Non-controlling interests	$ (369)	$ 2,399	$ 795
Basic and diluted earnings per share	$ 0.0005	$ 0.0005	$ 0.0004

Consolidated Income Statement (Parenthetical) - shares	12 Months Ended
Consolidated Income Statement (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Profit or loss [abstract]
Weighted average number of shares basic and diluted	117,000,000	117,000,000	117,000,000

Consolidated Statement Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of comprehensive income [abstract]
Net income for the year	$ 61,840	$ 60,938	$ 44,464
Items that will be reclassified to the income statement:
Currency translation adjustment	(1,863)	(3,031)	(1,537)
Currency translation adjustment - non controlling interests	(1,911)	(610)	(2,419)
Total comprehensive income	58,066	57,297	40,508
Attributable to:
Owners of the Parent	60,346	55,508	42,132
Non-controlling interests	$ (2,280)	$ 1,789	$ (1,624)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statement Of Changes In Equity - USD ($) $ in Thousands	Total	Initial application of IFRS 16 net of income taxes [Member]	Capital	Additional paid-in capital	Retained earnings	Retained earnings Initial application of IFRS 16 net of income taxes [Member]	Cumulative translation adjustment	Equity attributable to owners of the Parent	Equity attributable to owners of the Parent Initial application of IFRS 16 net of income taxes [Member]	Non-controlling interests [member]	Non-controlling interests [member] Initial application of IFRS 16 net of income taxes [Member]
Beginning balance at Dec. 31, 2017	$ 75,123		$ 1	$ 1,557	$ 66,261		$ (1,316)	$ 66,503		$ 8,620
Cumulative translation adjustment	(3,956)						(1,537)	(1,537)		(2,419)
Net income	44,464				43,669			43,669		795
Dividends paid	(38,009)				(37,018)			(37,018)		(991)
Ending balance (Previously stated [member]) at Dec. 31, 2018	77,622		1	1,557	72,912		(2,853)	71,617		6,005
Ending balance at Dec. 31, 2018	78,336	$ 714	1	1,557	73,341	$ 429	(2,853)	72,046	$ 429	6,290	$ 285
Cumulative translation adjustment	(3,641)						(3,031)	(3,031)		(610)
Net income	60,938				58,539			58,539		2,399
Dividends paid	(46,886)				(46,397)			(46,397)		(489)
Ending balance at Dec. 31, 2019	88,747		1	1,557	85,483		(5,884)	81,157		7,590
Cumulative translation adjustment	(3,774)				(1,503)		(360)	(1,863)		(1,911)
Net income	61,840				62,209			62,209		(369)
Dividends paid	(64,481)				(60,929)			(60,929)		(3,552)
Dividends declared	(23,259)				(23,259)			(23,259)
Ending balance at Dec. 31, 2020	$ 59,073		$ 1	$ 1,557	$ 62,001		$ (6,244)	$ 57,315		$ 1,758

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Consolidated Statement Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net income for the year	$ 61,840	$ 60,938	$ 44,464
Adjustments to net income for the year
Depreciation expense	1,680	2,120	978
Amortization expense	6,007	6,156	6,217
Net loss on sale / disposal of property and equipment		1	120
Net financial investment income	(366)	(890)	(902)
Valuation adjustments to long term investments	91	46	34
Interest expense on lease liabilities	869	918	0
Deferred income tax expense	2,245	(270)	782
Current income tax expense	891	3,783	1,210
Other non-cash effects	(243)	(3,470)	(2,976)
Changes in operating assets and liabilities
Accounts receivable	(22,560)	(17,460)	(3,826)
Projects Advances	4,537	37	(395)
Recoverable taxes	(326)	106	20
Personnel and related taxes	1,144	1,748	(1,522)
Taxes payable and deferred taxes	185	772	502
Payment of income taxes	(1,833)	(2,317)	(1,218)
Other assets and liabilities	(716)	(6,630)	(1,924)
Payment of placement agent fees	(750)	(1,121)	(2,046)
Net cash provided by operating activities	52,695	44,467	39,518
Cash flows from investing activities
Net decrease in short term investments	9,511	20,658	7,135
Decrease (increase) in short-term investment - loan	13,031	(13,031)
Decrease (increase) in long term investments	1,629	3,769	2,089
Acquisition of property and equipment	(163)	(148)	(1,010)
Amount received on sale of property and equipment		1	9
Acquisition of software and computer programs	(497)	(69)	(420)
Amount received due to canceling a software development project		74	3
Net cash provided by investing activities	23,511	11,254	7,806
Cash flows from financing activities
Dividends paid	(64,481)	(46,886)	(38,009)
Payment related to P2 purchase		(5,000)	(10,000)
Lease payments	(893)	(987)
Interest paid on lease liabilities	(865)	(899)
Net cash used in financing activities	(66,239)	(53,772)	(48,009)
Foreign exchange variation on cash and cash equivalents in foreign currencies	(35)	(175)	(293)
Increase/(decrease) in cash and cash equivalents	9,932	1,774	(978)
Cash and cash equivalents at the beginning of the year	4,120	2,346	3,324
Cash and cash equivalents at the end of the year	14,052	4,120	2,346
Increase/(decrease) in cash and cash equivalents	9,932	1,774	$ (978)
Non-cash operating and investing activity
Transfer of long term investment with a corresponding decrease in liability (note 10)		14,761
Accrued placement agent liabilities with a corresponding increase in intangible (note 12)	1,250
Dividends declared (note 25(c))	23,259
Addition of right of use assets (note 11)	$ 137	$ 5,132

General information

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

General information

1	General information

Patria Investments Limited (the “Company”) has subsidiaries located in Cayman Islands and in order to consolidate part of its operation in the same jurisdiction, thus reducing operating costs and providing synergy transferred its headquarters from Bermuda to the Cayman Islands on October 12, 2020. Since then, the Company’s obligations, whether legal, regulatory, or financial, will be complied with in accordance with the applicable laws and regulations of the Cayman Islands.

The Company is a holding company controlled by Patria Holdings Ltd., which held 60% of the Company’s common shares as of December 31, 2020 and is ultimately controlled by a group of individuals.

The Company and its subsidiaries (collectively, the “Group”) are a private markets investment firm focused on investing in Latin America. Since 1994 the Group has expanded from its initial flagship private equity funds, to other investment products, such as its flagship infrastructure development funds (its private equity approach applied to infrastructure assets), its

co-investments

funds (focused on successful companies from its flagship funds), its constructivist equity funds (applying its private equity approach to listed companies), as well as its real estate and credit funds. The Group operates around the globe, including investment offices in, Montevideo (Uruguay), São Paulo (Brazil), Bogota (Colombia), and Santiago (Chile), as well as client-coverage offices in New York and Los Angeles (United States), London (United Kingdom), Dubai (UAE), and Hong Kong (China) to cover the investor base of its underlying investment products, in addition to its corporate business and management office in Grand Cayman (Cayman Islands).

The Group’s main executive office is located at 18 Forum Lane, Grand Cayman, Cayman Islands.

The

COVID-19

pandemic has developed rapidly in 2020, with a significant number of cases. Measures taken by various governments to contain the virus have affected economic activity. The Company has taken a number of measures to monitor and mitigate the effects of

COVID-19,

such as safety and health measures for its people (such as social distancing and working from home) and securing the supply of materials that are essential to the maintenance of its offices.

At this stage, the impact on business and results has not been significant and based on the experience to date it is expected to remain the case. The Company will continue to follow the various government policies and advice and, in parallel, the Company will do the utmost to continue to operate in the best and safest way possible without jeopardizing the health of its people.

Management has considered the consequences of

COVID-19

and other events and conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern.

These consolidated financial statements for the years ended December 31, 2020, 2019 and 2018 include financial information regarding the Company and its subsidiaries, as described in note 5.

Presentation of financial statements

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Presentation of financial statements

2	Presentation of financial statements

Statement of compliance

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (“IASB”), which include the standards issued by IASB and interpretations issued by the International Financial Reporting Interpretation Committee (“IFRIC”).

The consolidated financial statements were approved by the Board of Directors on April 27, 2021.

Functional and presentation currency

The consolidated financial statements have been presented in United States dollar (USD). The effects of the translation from the functional currency into the presentation currency are recognized in Equity under the caption “Cumulative Translation Adjustment”.

For details regarding the remeasurement of the balances and transactions in foreign currencies to the functional currency of the Company and its subsidiaries, please refer to note 4(l) and for the functional currency determined for each entity to the note 5.

Use of estimates and judgments

The preparation of the consolidated financial statements in accordance with IFRS requires Management to make estimates that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that estimates utilized in the preparation of the consolidated financial statements are prudent and reasonable. Actual results could differ from those estimates and such differences could be material.

The most significant accounting estimates and corresponding assumptions are the following:

(i)

employee profit sharing, long term benefits and bonus accruals, where Management considered the expected results and targets to estimate the accruals;

(ii)

the useful lives of tangible and intangible assets and impairment analysis of such assets;

(iii)

the assessment of recoverability of deferred tax assets, where Management considered cash flow projections, income and expenses growth rates and timing for utilization of the net operating losses and temporary differences, as well as any cap for compensation;

(iv)

the assessment and measurement of risk regarding provisions and contingencies, where Management, supported by the opinion of it legal counsel, determined the likelihood of losses and the probable cash outcome expected for each claim;

(v)

Revenue recognition, where Management determined the multiple elements in the contracts and the criteria and timing for revenue recognition;

(vi)

Fair value of financial instruments, where Management determined the methodology and the inputs to the model, including observable and unobservable inputs.

Segment information

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Segment information

3	Segment information

The Group operates through a single reportable operating segment, in accordance with IFRS 8, reflecting how the Group`s chief operating decision maker allocates resources and assess performance under the Group`s global strategy, which includes integrated product lines. For the Group’s entity wide disclosures, refer to notes 12 and 19.

Significant accounting policies

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Significant accounting policies

4	Significant accounting policies

The significant accounting policies described below have been consistently applied to the consolidated financial statements:

Consolidation

The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company. See note 5 for the list of the subsidiaries included in the consolidated financial statements.

Control is achieved when the Company not only has power to direct the financial and operating policies of the investee or rights to variable returns from its involvement with the investee, but also has the ability to use its power to affect the investor’s returns from its involvement with the investee. Thus, an investor or an entity with decision-making rights shall determine whether it is a principal or an agent. An investor or an entity that is an agent in accordance does not control an investee when it exercises decision-making rights delegated to it. The investment funds and their investees are not consolidated by the Company, given that they operate as agents.

For the purpose of these consolidated financial statements, the intercompany balances are eliminated, as well as any unrealized income and expenses arising from transactions between the subsidiaries and the Company, if any.

Additionally, the Company may invest in certain funds that it manages. In these situations, the Company holds fund units with the same rights as the other fund investors. A detail of these fund investments is included in note 10. For the periods presented in these consolidated financial statements, these investments did not give the Company control nor significant influence over the respective funds. Therefore, these investments are classified and accounted for as Fair Value Through Profit or Loss (“FVTPL”) in accordance with IFRS 9 – Financial Instrument

Financial instruments

The Group did not hold a

ny derivative instruments for the periods presented in these consolidated financial statements.

Non-derivative

financial instruments comprise of cash, short and long-term investment, accounts receivable, other liabilities, lease obligations, and certain other assets and liabilities.

A financial instrument is recognized when the Group becomes a party of a contract that gives rise to a financial asset or a financial liability or equity instrument. Financial assets are no longer recognized when the Group’s contractual rights to receive cash flows from the assets have expired or if the Group has transferred the control over substantially all risks and rewards of ownership. Financial liabilities are no longer recognized when these obligations are discharged or cancelled.

(i)

Financial assets

At initial recognition, a financial asset is measured at its fair value plus, in the case of a financial asset not at FVTPL, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed within the consolidated income statement.

Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories:

•

amortized cost

•

fair value through profit or loss (FVTPL)

•

fair value through other comprehensive income (FVOCI).

In the periods presented, the Group does not have any financial assets categorized as FVOCI or financial assets designated as hedging instruments.

The classification is determined by both:

•

the entity’s business model for managing the financial asset

•

the contractual cash flow characteristics of the financial asset.

All income and expenses relating to financial assets that are recognized in profit or loss are presented within financial income and expenses, except for impairment of trade receivables which would be presented within administrative expenses. The Group has assessed all financial instruments to have low credit risk in accordance with IFRS 9 – Financial Instruments.

Amortized cost

A financial asset is measured at amortized cost if both of the following conditions are met: (a) the asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows; and (b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Fair value through profit or loss

Any financial assets that are not held within a business model whose objective is to hold assets in order to collect contractual cash flows are measured at fair value through profit or loss.

(ii)

Financial liabilities

All financial liabilities are measured at amortized cost, except for financial liabilities at fair value through profit or loss. After initial recognition, an entity cannot reclassify any financial liability.

Impairment losses

Financial assets

The Group considers the allowance for losses on financial assets for expected credit losses in line of IFRS 9 requirements, if applicable.

An impairment loss in a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows, and it is recognized immediately in the consolidated income statement. This impairment loss is reversed if justified by any event that occurs after its recognition.

Non-financial

assets

The carrying amounts of the Group’s

non-financial

assets are tested for impairment if there is any indication of loss in its recoverable amount. An impairment loss is recognized if an asset’s carrying amount exceeds its recoverable amount recorded in the consolidated financial statements.

The recoverable amount of an asset is the higher amount between its value in use and its fair value less costs to sell. To measure the value in use, the present value of future cash flows is discounted using a discount rate that reflects current market valuations and the asset’s risks.

Property and equipment

Property and equipment items are stated at purchase cost, less accumulated depreciation and impairment losses. Cost includes, where applicable, expenses directly attributable to the purchase of the assets.

Depreciation, recognized in the consolidated income statement, is calculated on a straight-line basis over the estimated useful lives of the assets.

The estimated useful lives per category are as follows:


Facilities			10 years
Machinery and equipment			10 years
Furniture and fixtures			10 years
Building improvements (*)			10 years
Electronic equipment			5 years
IT equipment			5 years
Telephone equipment			5 years

(*) Building improvements are depreciated over 10 years or based on the duration of the lease, whichever is shorter.

Although subject to depreciation, these assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable.

Intangible assets

Intangible assets are

non-monetary

assets without physical substance. These items are initially measured at cost and subsequently carried at cost less any accumulated amortization and impairment losses. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives. Although subject to amortization, these assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. The Group has the following intangible assets with finite useful lives: (i) placement agent fees, which are amortized over the terms of the respective investment funds, with average estimated term of 10 years; (ii) software, with estimated useful life of 5 years; and (iii) contractual rights to earn future fee income relating to the acquisition of P2 Brasil Private Infrastructure General Partner II Ltd. and P2 Brasil Holding Ltd. (“P2 Group”), which are amortized over the respective contractual periods of the underlying funds of 8 years and 12 years, respectively.

Employees’ benefits

Current benefits are paid within twelve months and include salaries, social security contributions, bonuses and profit sharing. These benefits are recognized on an accrual basis.

The Group annually recognizes a provision for profit sharing, according to conditions approved by Management. These amounts are recorded as ‘Personnel expenses’ in the income statement.

The Officers’ Fund Plan (the “Plan”) which has been established to provide employees with an opportunity to receive a cash benefit based on the performance of the Group. The Fund is, in substance, a long-term benefit within the scope of IAS 19 – Employee Benefits, as it is not based on the changes in fair value of the Group’s equity (note 27(b)).

Provisions, contingent assets and contingent liabilities

The recognition, measurement and disclosure of contingent assets and contingent liabilities and legal obligations are performed based on the criteria set forth in IAS 37 – Provisions, Contingent Liabilities and Contingent Assets.

•

Contingent Assets: are not recognized, except if the realization of the asset is virtually certain.

•

Provisions: are recognized in the financial statements when, based on Management’s assessment supported by the opinion of the legal counsel, the risk of an unfavorable outcome in a judicial or administrative proceeding is considered probable, and whenever the amounts involved can be reliably measured;

•

Contingent Liabilities: are disclosed in the notes to the financial statements when, based on Management’s assessment supported by the opinion of the legal counsel, the risk of an unfavorable outcome in a judicial or administrative proceeding is considered possible. The contingent liabilities for which the risk of an unfavorable outcome in a judicial or administrative proceeding is considered remote are neither accounted for nor disclosed.

Leases

The Group has applied the requirements stated in IFRS 16 - Leases for the first time for their annual reporting period commencing January 1, 2019.

According to IFRS 16, a contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group determines the lease term as the

non-cancellable

period of a lease, together with both: (a) periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and (b) periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option.

The Group does not hold lease contracts as a lessor. For the contracts in which the Group is the lessee, the Group recognizes a

right-of-use

asset and a lease liability at the commencement date. A

right-of-use

asset is measured at cost at the commencement date, which comprises: (a) the amount of the initial measurement of the lease liability; (b) any lease payments made at or before the commencement date, less any lease incentives received; (c) any initial direct costs incurred by the Group; and (d) an estimate of costs to be incurred by the Group in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. After the commencement date, the Group measures the

right-of-use

asset at cost, less any accumulated depreciation and any accumulated impairment losses, and adjust it for any remeasurement of the lease liability.

At the commencement date, the Group measures the lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Group uses the Group’s incremental borrowing rate. After the commencement date, the Group measures the lease liability by: (a) increasing the carrying amount to reflect interest on the lease liability; (b) reducing the carrying amount to reflect the lease payments made; and (c) remeasuring the carrying amount to reflect any reassessment or lease modifications.

The Group did not have contracts eligible to the short-term leases and leases for which the underlying asset is of low value exemptions. The Group has rental agreements for its offices in the Cayman Islands, United Kingdom and Brazil within the scope of IFRS 16.

Revenues

The Group’s revenues from services consist of (i) management fees, (ii) performance fees, (iii) incentive fees, (iv) M&A advisory fees and (v) monitoring fees, reported net of applicable taxes.

The Group follows the five step guidance to recognize revenue in accordance with IFRS 15 – Revenue from Contracts with Customers: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

Management fees primarily relate to management of funds and are calculated as a fixed percentage over the committed capital and/or the deployed capital for each one of the funds following the relevant Limited Partnership Agreement. Management fees are recognized when the services are provided, throughout the period that the Group provides the services to the fund. As manager of the funds, the Group may, at its sole discretion, decrease the percentage or amount of fees being paid by the funds directly or indirectly to the Group or fully waive the payment of fees paid by the funds, for a determined period of time or until the maturity of the funds, revenue is not recognized in such cases.

Performance fees and incentive fees are primarily generated when the return of the funds surpass the performance hurdle set out in the related charters. Since the funds’ performance are susceptible to market volatility and to factors out of the Group’s control, the related fees fall under the variable consideration defined in the IFRS 15. According to the referred standard, the Group recognizes these fees at a point in time when the associated performance obligations are satisfied, the related uncertainties are resolved, the likelihood of a claw-back or reversal is improbable and the likely amount of the transaction prices can be estimated without significant chance of reversal, indicating high probability of economic benefits and cash inflow to the Group.

M&A advisory and monitoring fees primarily relate to services provided to the funds’ invested companies; the first relates to support on M&A acquisitions and the latter refers to value-creation ongoing consulting services. M&A advisory and monitoring service fees are recognized as the services are provided and/or when certain transactions are completed, as applicable.

Financial income and expenses

Financial income is mainly composed of interest on short and long-term investments and foreign exchange gains in monetary items.

Financial expenses include interest, foreign exchange losses in monetary items, banking costs and taxes on financial transactions, recognized on an accrual basis.

Income tax expenses – current and deferred

The income tax basis and the current tax rates are determined according to criteria established by the prevailing tax law applicable to the Company and its subsidiaries, which are described in note 24. Income taxes refers substantially to Brazilian subsidiaries and are calculated based on enacted tax rates of 25% of income tax and 9% of social contribution. Net operating losses have no statute of limitations but are limited to 30% of the annual taxable profits. Temporary differences have no statute of limitation and no limitation for offsetting.

Deferred tax assets and liabilities shall be recognized for unused tax losses, deductible and taxable temporary differences, respectively. A deferred tax asset and liability is recognized only when it is probable that future taxable income will be generated and available.

Income tax comprises current and deferred income taxes.

The Group applies the IFRIC 23 Uncertainty over Income Tax Treatment and did not identify a significant impact on its taxable profit or loss from uncertainties over income tax treatments.

Foreign-currency transactions

At each reporting date, monetary assets and liabilities that are denominated in foreign currencies, i.e., in any currency other than the respective functional currencies of the Group entities are retranslated at the rates prevailing at that date. Nonmonetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, according to IAS 21 – The Effects of Changes in Foreign Exchange. Exchange differences arising, if any, are recognized in other comprehensive income and accumulated in a foreign exchange translation reserve (attributed to

non-controlling

interests as appropriate).

Amendments to IFRSs that are mandatorily effective for annual periods beginning on January 1, 2020

The Group has evaluated and adopted, when applicable, the following standards and amendments for the first time for their annual reporting period commencing January 1, 2020:

•

Amendments to References to the Conceptual Framework in IFRS Standards.

•

Amendments to IFRS 3 Definition of a business.

•

Amendments to IFRS 16 –

Covid-19-related

Rent Concessions.

•

Interest Rate Benchmark Reform – Amendments to IFRS 7, IFRS 9 and IAS 39.

The amendments listed above did not have a material impact on these consolidated financial statements and are not expected to significantly affect the current or future periods.

New standards and interpretations not yet adopted– applicable and mandatory for fiscal years beginning on or after January 1, 2021

Certain new accounting standards and interpretations have been published that are not yet effective and have not been early adopted by the Group. These standards are not expected to have a material impact in the current or future reporting periods and on foreseeable future transactions. The following standards and interpretations apply for the first time to financial reporting periods commencing on or after January 1, 2021:

•

IFRS 17 – Insurance Contracts.

•

Amendments to IAS 1 – Classification of Liabilities as Current or

Non-current.

•

Amendments to IAS 16 – Property, Plant and Equipment: Proceeds before intended use.

•

Amendments to IFRS 3 – Reference to the Conceptual Framework.

•

Amendments to IAS 37 – Cost of Fulfilling a Contract - Onerous Contracts.

•

Annual Improvements to IFRS Standards 2018–2020 (IFRS 9, IFRS 16, IFRS 1 and IAS 41).

•

Amendments to IFRS 10 and IAS 28 – Sale or contribution of assets between an investor and its associate or joint venture.

Consolidation and subsidiaries

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Consolidation and subsidiaries

5	Consolidation and subsidiaries

The consolidated financial statements include the entities listed below which are the Company’s direct or indirect subsidiaries:


		Functional Currency	Equity interest (direct or indirect) (%)
Subsidiaries			2020			2019
Patria Finance Ltd.	(a)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity III, Ltd.	(b)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity General Partner IV, Ltd.	(c)	USD		100.00	%		100.00	%
PBPE General Partner V, Ltd.	(d)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity General Partner VI, Ltd.	(e)	USD		100.00	%		100.00	%
Patria Brazil Real Estate Fund General Partner II, Ltd.	(f)	USD		100.00	%		100.00	%
Patria Brazil Real Estate Fund General Partner III Ltd.	(g)	USD		100.00	%		100.00	%
Patria Brazil Retail Property Fund General Partner, Ltd.	(h)	USD		100.00	%		100.00	%
Patria Investments UK Ltd.	(i)	GBP		100.00	%		100.00	%
Patria Investments US LLC	(j)	USD		100.00	%		100.00	%
Patria Investments Colombia S.A.S.	(k)	COP		100.00	%		100.00	%
Patria Infrastructure General Partner II Ltd.	(l)	USD		100.00	%		100.00	%
Patria Infrastructure General Partner III Ltd.	(m)	USD		100.00	%		100.00	%
Patria Infrastructure General Partner IV Ltd.	(n)	USD		100.00	%		100.00	%
Pátria Investimentos Ltda.	(o)	BRL		51.00	%		51.00	%
Pátria Companhia Securitizadora de Créditos Imobiliários	(p)	BRL		51.00	%		51.00	%
Zedra S.A.	(q)	UYU		100.00	%		—
Improdem S.A.	(r)	UYU		100.00	%		—
Patria Investments Cayman Ltd.	(s)	USD		100.00	%		—
Patria Investments Chile SpA	(t)	CLP		100.00	%		100.00	%
Patria Investments Hong Kong, Ltd.	(u)	HKD		100.00	%		100.00	%
Patria Farmland General Partner, Ltd.	(v)	USD		100.00	%		100.00	%

“USD” United States dollars

“BRL” Brazilian Real

“GBP” Pound sterling

“CLP” Chilean peso

“COP” Colombian peso

“HKD” Hong Kong dollar

(a)

Patria Finance Ltd.:

headquartered in the Cayman Islands, Patria Finance Ltd. is responsible for the management of funds and providing financial advisory services to clients around the world. It also provides the accounting and finance support to the Group.

(b)

Patria Brazilian Private Equity III, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(c)

Patria Brazilian Private Equity General Partner IV, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(d)

PBPE General Partner V, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(e)

Patria Brazilian Private Equity General Partner VI, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(f)

Patria Brazil Real Estate Fund General Partner II Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(g)

Patria Brazil Real Estate Fund General Partner III Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(h)

Patria Brazil Retail Property Fund General Partner, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(i)

Patria Investments UK Ltd.

: headquartered in London (UK), and is engaged in the development of investor relations.

(j)

Patria Investments US LLC:

a subsidiary of Patria Investments UK Ltd., headquartered in Delaware (USA) and is engaged in the development of investor relations and marketing services, as well as certain back office services.

(k)

Patria Investments Colombia S.A.S.

: headquartered in Bogotá (Colombia) and is engaged in advisory services related to asset management of investment funds and investments in private equity and infrastructure areas, as well as in investor relations and marketing services.

(l)

Patria Infrastructure General Partner II, Ltd.

: headquartered in the Cayman Islands and serves as manager of offshore funds. Patria Infrastructure General Partner II, Ltd. was the major owner of Pátria Infraestrutura Gestão de Recursos Ltda. (“PINFRA”) until September 28, 2020 when transferred the totality of its shares to Pátria Investimentos Ltda.

(m)

Patria Infrastructure General Partner III, Ltd.

: headquartered in the Cayman Islands and serves as manager of offshore funds, as well as providing financial advisory services. After a corporate restructuring completed in 2016, this entity became the successor entity to the P2 Group, a fund manager that was acquired in 2015.

(n)

Patria Infrastructure General Partner IV, Ltd.:

headquartered in the Cayman Islands and serves as manager of offshore funds.

(o)

Pátria Investimentos Ltda. (“PILTDA”):

headquartered in Brazil and engaged in asset management, fund administration, consulting and planning services related to asset management as well as the organization and performance of transactions in the commercial and corporate sectors. On September 28, 2020, PILTDA became the owner of Pátria Infraestrutura Gestão de Recursos Ltda (“PINFRA”) after receiving shares from Patria Infrastructure General Partner II, Ltd.. On September 30, 2020, PINFRA was merged into PILTDA with the purpose of simplifying the structure and consolidating the investments of the Group, meanwhile optimizing costs, and providing operational synergies.

(p)

Pátria Companhia Securitizadora de Créditos Imobiliários:

a subsidiary of Pátria Investmentos Ltda, headquartered in Brazil and engaged in the issuance and placement of Real Estate Receivables Certificates backed by real estate receivables and the trading and services related to the securitization of these receivables.

(q)

Zedra S.A.:

acquired in September 2020* and headquartered in Uruguay, holding company which will provide financial advisory services to the Group.

(r)

Patria Investments Uruguay S.A.

: acquired by Zedra S.A. in September 2020* and changed its name from Improdem S.A. to Patria Investments Uruguay S.A. in November 2020. It is a company headquartered in Uruguay that will provide advisory services related to asset management of investment funds, as well as investor relations and marketing services.

(s)

Patria Investments Cayman Ltd.:

created in October 19, 2020, headquartered in the Cayman Islands and serves as holding company for the Group investing activities.

(t)

Patria Investments Chile SpA.:

headquartered in Chile and engaged in advisory services related to asset management of investment funds and investments in infrastructure, as well as investor relations and marketing services.

(u)

Patria Investments Hong Kong, Ltd.:

a subsidiary of Patria Investments UK Ltd., headquartered in Hong Kong and engaged in the development of investor relations and marketing services.

(v)

Patria Farmland General Partner, Ltd.:

a subsidiary of Patria Finance Ltd, headquartered in Cayman Islands and serves as manager of offshore funds.

(*) These companies do not have any operations and/or material assets and liabilities, and the acquisition amounts were not material, therefore, the disclosure requirements were not applicable (IFRS3 – Business Combination).

Cash and cash equivalents

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Cash and cash equivalents

6	Cash and cash equivalents


	2020		2019
Bank accounts		14,052		4,120

Accounts receivable

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Accounts receivable

7	Accounts receivable


	2020		2019
Current		24,022		11,007
Non-current (a)		21,993		15,110

Accounts receivable		46,015		26,117

Amounts receivable from customers relate to management and performance fees, including reimbursement of expenses, on investment funds and financial advisory services. There are no past due accounts receivable and the Group has not recorded write-offs nor allowances for uncollectible accounts receivable for the periods presented in these consolidated financial statements. For the breakdown of the accounts receivable balance per currency, please refer to note 26(d)iii.

(a)

Non-current

balances are related to management fees receivable from fund Private Equity IV in annual equal installments in December 31, 2022 and 2023. No interest is charged and the impact of the adjustment to amortized cost using the effective interest rate method at the date of initial recognition is not material.

Project advances

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Project advances

8	Project advances


	2020		2019
Current		1,277		6,431
Non-current		495		789

Project advances		1,772		7,220

Project advances represent recoverable advances relating to the development process of new funds or on the capture of

non-capitalized

funds. In both cases, the amounts are subject to reimbursement as provided for in the respective agreements between the Group and investors.

The balance recorded as

non-current

assets corresponds to projects related to funds still in the structuring stage.

Other assets

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Other assets

9	Other assets


	2020		2019
Advances to suppliers (a)		1,583		107
Advances to employees		283		354
Prepaid expenses (b)		966		858
Officer’s fund (c)		47		47
IPO costs (d)		624		—
Other current assets		200		419

Other current assets		3,703		1,785

Prepaid expenses (b)		398		407
Deposit/guarantee on lease agreement		142		133

Other non-current assets		540		540

(a)

Advances to suppliers are advances paid for services not yet received. The Company reviews such amounts and records the portion related to the period in the income statement on an accrual basis. The balances outstanding on December 31, 2020, related mainly to attorney fees for services to a fund and were reimbursed after

year-end.

(b)

Prepaid expenses are composed mainly of IT services paid in advance, such as renewal of licenses, technical support and guarantees. These services refer to future periods; therefore, these items will be recorded as administrative expenses (note 21) in the consolidated income statement related to the period for which they correspond.

(c)

The balance of US$ 47 as of December 31, 2020 and December 31, 2019 represent the amount receivable from the Officer’s fund related to reimbursable costs incurred by the Group. For more details, see note 27.

(d)

IPO Costs related to the Company’s Initial Public Offering (IPO) which was concluded on January 21, 2021 (see note 28). This amount refers to the costs allocated to the primary offering and will be transferred to equity as capitalization costs upon IPO’s conclusion.

Investments

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Investments

10	Investments

Short-term investments


	2020		2019
Loan (a)		—		13,031
Securities (b)		9,929		19,999

Short-term investments		9,929		33,030

(a)

The balance as of December 31, 2019 was fully settled in January 2020 and refers to a short-term bridge loan made to the Patria Brazilian Private Equity Fund III, L.P. in 2019. The principal amount of US$ 13,031 was granted on December 18, 2019 at an interest rate of 4.15% per annum.

(b)

Investments into short-term, liquid investment funds with portfolios made of term deposits, equities, government bonds and other short-term liquid securities.

Long-term investments


	2020		2019
Patria Brazil Real Estate Fund II, L.P. (a)		1,146		2,712
Patria Brazilian Private Equity Fund III, L.P. (a)		369		446
Patria Brazilian Private Equity Fund IV, L.P.		102		129
Patria Brazilian Private Equity Fund V, L.P.		89		100
Patria Brazil Real Estate Fund III, L.P.		32		54
Patria Private Equity Fund VI, L.P.		130		35
Patria Infrastructure Fund II, L.P.		44		83
Patria Infrastructure Fund III, L.P.		61		91
Patria Infrastructure Fund IV, L.P.		1		—
Patria lnfrastructure II LAP Co-lnvest UK, L.P.		3		4
Patria Alphaville Co-Invest, L.P.		4		6
Patria Farmland Fund I, L.P.		1		2
Other investments		4		7

Long-term investments		1,986		3,669

(a)

These investments are subject to a participating share held by a related party in Patria Brazilian Private Equity Fund III, L. P. and Patria Brazil Real Estate Fund II, L.P. that gives it the right to all returns and the related asset. Consequently, the Group has recorded a liability in the same amount (notes 15 and 27(c)).

These investments in securities will be maintained until the funds’ respective termination dates and are measured at fair value, according to the methodology described in note 27(c). The Group’s ownership interest on these investments ranges from 0.00004% to 3.28%.

Property and equipment

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Property and equipment

11	Property and equipment


Changes in cost	2020
	Opening balance		Additions		Disposals		Transfer		CTA (*)			Closing balance
Furniture and fixtures		883		15		—		—		(172	)		726
Building improvements		3,617		34		—		—		(654	)		2,997
Electronic equipment		222		11		—		—		(49	)		184
IT equipment		2,043		97		—		—		(356	)		1,784
Telecommunication equipment		352		6		—		—		(77	)		281
Right-of-use assets (a)		5,168		137		—		—		(1,122	)		4,183

Cost of fixed assets		12,285		300		—		—		(2,430	)		10,155


Changes in accumulated depreciation	2020
	Opening balance			Additions			Disposals		Transfer		CTA			Closing balance
(-) Furniture and fixtures		(451	)		(71	)		—		—		100			(422	)
(-) Building improvements		(2,045	)		(391	)		—		—		366			(2,070	)
(-) Electronic equipment		(176	)		(13	)		—		—		40			(149	)
(-) IT equipment		(1,558	)		(175	)		—		—		288			(1,445	)
(-)Telecommunication equipment		(335	)		(4	)		—		—		77			(262	)
(-) Right-of-use assets (a)		(1,256	)		(1,026	)		—		—		294			(1,988	)

Total - Accumulated depreciation		(5,821	)		1,680			—		—		1,165			(6,336	)

Property and equipment, net		6,464			(1,380	)		—		—		(1,265	)		3,819

(*)

CTA – Cumulative translation adjustment


Changes in cost	2019
	Opening balance		Adoption of IFRS 16		Adjusted opening balance		Additions		Disposals			Transfer			CTA			Closing balance
Furniture and fixtures		900		—		900		15		(2	)		2			(32	)		883
Building improvements		3,771		—		3,771		34		—			—			(188	)		3,617
Electronic equipment		221		—		221		8		—			—			(7	)		222
IT equipment		1,973		—		1,973		91		—			(2	)		(19	)		2,043
Telecommunication equipment		364		—		364		—		—			—			(12	)		352
Right-of-use assets (a)		—		5,132		5,132		—		—			—			36			5,168

Cost of fixed assets		7,229		5,132		12,361		148		(2	)		—			(222	)		12,285

Changes in accumulated depreciation	2019
	Opening balance			Adoption of IFRS 16		Adjusted opening balance			Additions			Disposals			Transfer		CTA			Closing balance
(-) Furniture and fixtures		(376	)		—		(376	)		(93	)		—			—		18			(451	)
(-) Building improvements		(1,630	)		—		(1,630	)		(477	)		—			—		62			(2,045	)
(-) Electronic equipment		(167	)		—		(167	)		(15	)		—			—		6			(176	)
(-) IT equipment		(1,351	)		—		(1,351	)		(257	)		—			—		50			(1,558	)
(-)Telecommunication equipment		(339	)		—		(339	)		(5	)		—			—		9			(335	)
(-) Right-of-use assets (a)		—			—		—			(1,273	)		—			—		17			(1,256	)

Total - Accumulated depreciation		(3,863	)		—		(3,863	)		(2,120	)		—			—		162			(5,821	)

Property and equipment, net		3,366			5,132		8,498			(1,972	)		(2	)		—		(60	)		6,464


Changes in cost	2018
	Opening balance		Additions		Disposals			Transfer		CTA			Closing balance
Furniture and fixtures		831		216		(15	)		—		(132	)		900
Building improvements		3,867		551		(143	)		—		(504	)		3,771
Electronic equipment		241		20		(4	)		—		(36	)		221
IT equipment		2,128		198		(6	)		—		(347	)		1,973
Telecommunication equipment		398		25		—			—		(59	)		364

Cost of fixed assets		7,465		1,010		(168	)		—		(1,078	)		7,229


Changes in accumulated depreciation	2018
	Opening balance			Additions			Disposals			Transfer		CTA			Closing balance
(-) Furniture and fixtures		(346	)		(88	)		3			—		55			(376	)
(-) Building improvements		(1,450	)		(437	)		31			—		226			(1,630	)
(-) Electronic equipment		(151	)		(41	)		2			—		23			(167	)
(-) IT equipment		(1,203	)		(347	)		3			—		196			(1,351	)
(-)Telecommunication equipment		(329	)		(65	)		—			—		55			(339	)


Total - Accumulated depreciation		(3,479	)		(978	)		39			—		555			(3,863	)

Property and equipment, net		3,986			32			(129	)		—		(523	)		3,366

As of December 31, 2020, 2019 and 2018 there was no indication that any of these assets were impaired. Depreciation expenses in the amount of US$ 1,680 were recorded as Administrative expenses (US$ 2,120 in 2019 and US$ 978 in 2018), see note 21.

(a)

As disclosed in note 25(e), on the adoption of IFRS 16 the Group recognized

right-of-use

assets in the amount of US$ 5,132 on January 1, 2019. The Group is the lessee in lease agreements for which the underlying assets are the office space located in São Paulo, London and Cayman. Depreciation expense relating to these assets was recognized in 2020 in the amount of US$ 1,026 (US$ 1,273 in 2019), see note 21.

Intangible assets

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Intangible assets

12	Intangible assets


Changes in costs	2020
	Opening balance		Additions		Disposals		Transfer			CTA			Closing balance
Placement agents (a)		35,284		2,000		—		—			(388	)		36,896
Contractual rights (b)		44,156		—		—		—			—			44,156
Software		743		497		—		38			(63	)		1,215
Software implementation costs		144		—		—		(38	)		(8	)		98

Cost of intangible assets		80,327		2,497		—		—			(459	)		82,365


Changes in accumulated amortization	2020
	Opening balance			Additions			Disposals		Transfer		CTA		Closing Balance
(-) Placement agents (a)		(27,387	)		(2,300	)		—		—		772		(28,915	)
(-) Contractual rights (b)		(26,805	)		(3,623	)		—		—		—		(30,428	)
(-) Software		(678	)		(84	)		—		—		97		(665	)

Accumulated amortization		(54,870	)		(6,007	)		—		—		869		(60,008	)

Intangible assets, net		25,457			(3,510	)		—		—		410		22,357


Changes in costs		2019
	Opening balance		Additions		Disposals			CTA			Closing balance
Placement agents (a)		35,350		3		—			(69	)		35,284
Contractual rights (b)		44,156		—		—			—			44,156
Software		851		2		(74	)		(36	)		743
Software implementation costs		80		64		—			—			144

Cost of intangible assets		80,437		69		(74	)		(105	)		80,327


Changes in accumulated amortization		2019
	Opening balance			Additions			Disposals			CTA		Closing balance
(-) Placement agents (a)		(25,153	)		(2,297	)		—			63		(27,387	)
(-) Contractual rights (b)		(23,042	)		(3,763	)		—			—		(26,805	)
(-) Software		(688	)		(96	)		—			106		(678	)

Accumulated amortization		(48,883	)		(6,156	)		—			169		(54,870	)

Intangible assets, net		31,554			(6,087	)		(74	)		64		25,457


Changes in costs		2018
	Opening balance		Additions		Disposals			CTA			Closing balance
Placement agents (a)		35,335		276		—			(261	)		35,350
Contractual rights (b)		44,156		—		—			—			44,156
Software		925		64		(3	)		(135	)		851
Software implementation costs		—		80		—			—			80

Cost of intangible assets		80,416		420		(3	)		(396	)		80,437


Changes in accumulated amortization		2018
	Opening balance			Additions			Disposals			CTA			Closing balance
(-) Placement agents (a)		(22,985	)		(2,293	)		—			125			(25,153	)
(-) Contractual rights (b)		(19,279	)		(3,763	)		—			—			(23,042	)
(-) Software		(635	)		(161	)		—			108			(688	)

Accumulated amortization		(42,899	)		(6,217	)		—			233			(48,883	)

Intangible assets, net		37,517			(5,797	)		(3	)		(163	)		31,554

As of December 31, 2020, 2019 and 2018 there were no impairment indication for any of these assets.

(a)

Refers to amounts capitalized relating to agreements with investment placement agents relating to funds raised from foreign investors in offshore funds. These assets are amortized based on the estimated duration of the respective investment funds (note 4(e)). In case of an early liquidation of an investment fund, the amortization period is also adjusted, or if there is an indication of impairment, an impairment assessment is performed and, if necessary, an impairment loss is recognized. The remaining balance as of December 31, 2020 is expected to be amortized as shown below:


	2021		2022		2023		2024		2025		2026		2027		2028		2029		2030		2031		Total
Placement agent fees		2,154		1,412		1,213		1,109		991		198		198		181		175		175		175		7,981

(b)

Refers to contractual rights relating to the management of the P2 GP II and P2 GP III funds. These rights were recorded as a result of the acquisition of control of P2 Brasil Private Infrastructure General Partner II Ltd. and P2 Brasil Holding Ltd. on September 25, 2015 from Promon International Inc. The purchase agreement includes contingent consideration that will be paid to Promon based on the performance of P2 Brasil Private Infrastructure General Partner II Ltd., expected to be settled in 2022 and only if the performance is achieved. As of the date of these financial statements, no amounts were due relating to these agreements. These intangible assets were recorded based on their respective fair values using estimates of expected future earnings on the acquisition date.

(c)

Following is the breakdown of the total intangible assets by region:


	2020		2019
Brazil		815		886
Cayman Islands		21,542		24,571

Balance at December 31		22,357		25,457

Personnel and related taxes

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Personnel and related taxes

13	Personnel and related taxes


	2020		2019
Personnel and taxes		222		246
Withholding income tax on payroll		150		219
Accrued vacation and related charges		920		1,124
Employee profit sharing (a)		10,239		11,450
Officers’ fund (b)		1,271		1,043

Personnel and related taxes current		12,802		14,082

Officers’ fund (b)		1,527		1,530

Personnel non-current liabilities		1,527		1,530

(a)

The Group recognizes a provision for payment of profit sharing to employees, according to conditions approved by Management, which is recorded as personnel expenses in the income statement. The amount of US$ 11,450 was paid in February and March of 2020. The amount of US$ 10,239 on December 31, 2020 was fully settled by February 28, 2021.

(b)

Represents the amount of accrued employee benefits related to the Officers’ fund, as described in the notes 4(f) and 27(b)).

Taxes payable

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Taxes payable

14	Taxes payable


	2020		2019
Taxes on revenues		902		885
Income taxes		119		1,326
Other taxes payable		49		30

Taxes payable		1,070		2,241

Other liabilities

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Other liabilities

15	Other liabilities


	2020		2019
Placement agent fees		1,250		—
Suppliers		3,039		492
Advances from customers		1,688		932
Occupancy costs		146		6
Lease liabilities (a)		780		1,209
Other current liabilities		10		79

Other current liabilities		6,913		2,718

Investment fund participating share in Patria Brazilian Private Equity General Partner III, Ltd. and Patria Brazil Real Estate Fund II, L.P. (b)		1,515		3,158
Lease liabilities (a)		802		1,888
Other non-current liabilities		57		89

Other non-current liabilities		2,374		5,135

(a)

The Group is the lessee in lease agreements for which the underlying assets are the office spaces located in São Paulo, London and Grand Cayman. The amount of interest on lease liabilities recognized in 2020 was US$ 869 (US$ 918 in 2019) which was disclosed in note 23. The principal amount paid in 2020 and 2019 on leases were US$ 893 and US$ 987, respectively.

(b)

This liability refers to a participating share held by a related party in Patria Brazilian Private Equity General Partner III, Ltd. and Patria Brazil Real Estate Fund General Partner II, Ltd. that gives it the right to all returns and the related investment in the Patria Brazilian Private Equity Fund III, L.P. and Patria Brazil Real Estate Fund II, L.P. For more details see note 10(b).

Deferred taxes

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Deferred taxes

16	Deferred taxes


	2020		2019
Deferred tax assets on the provision for employee profit sharing (a)		1,945		3,220
Deferred tax assets on management fee provision(a)		391		1,442
Deferred tax assets on deductible goodwill (b)		—		1,260
Others		2		82

Deferred tax assets		2,338		6,004

Deferred tax liabilities on initial application of IFRS 16		185		365
Others		—		37

Deferred tax liabilities		185		402

(a)

Deferred income tax calculated on temporary differences on the provision for employee profit sharing and management fee write-offs.

(b)

Deferred tax asset related to tax deductible goodwill.


Deferred tax assets

	Employee profit sharing			Management fee provision			Taxable Goodwill			Impact of IFRS 16			Other			Total
As of December 31, 2017		3,042			673			4,094			—			—			7,809

(Charged)/credited
- to profit or loss		(470	)		281			(1.691	)		—			—			(1.880	)
As of December 31, 2018		2,572			954			2,403			—						5,929

(Charged)/credited
- to profit or loss		648			488			(1,143	)		48			34			75
As of December 31, 2019		3,220			1,442			1,260			48			34			6,004

(Charged)/credited
- to profit or loss		(560	)		(724	)		(984	)		(37	)		(37	)		(2,342	)
- directly to equity / CTA		(715	)		(327	)		(276	)		(11	)		5			(1,324	)

As of December 31, 2020		1,945			391			—			—			2			2,338


Deferred tax liabilities	Initial application of IFRS 16			Other			Total
As of December 31, 2017		—			53			53

(Charged)/credited
- to profit or loss		—			12			12
As of December 31, 2018		—			65			65

(Charged)/credited
- to profit or loss		6			(28	)		(22	)
- directly to equity / CTA		359			—			359

As of December 31, 2019		365			37			402

(Charged)/credited
- to profit or loss		(98	)		1			(97	)
- directly to equity / CTA		(82	)		(38	)		(120	)

As of December 31, 2020		185			0			185

Provisions and contingent liabilities

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Provisions and contingent liabilities

17	Provisions and contingent liabilities

In 2017 and 2018, respectively, the Company’s subsidiaries Patria Investimentos Ltda. (“PILTDA”) and Patria Infraestrutura Gestão de Recursos Ltda. (“PINFRA”), that was subsequently merged into PILTDA on September 30, 2020 (see note 5(o)), became involved in administrative procedures, in which the entities defend the exemption of municipal tax over services (“ISS”). In 2019 Municipality of São Paulo obtained a favorable judgement; however, these administrative proceedings gave rise to judicial lawsuits, for which judgments are still pending. As of December 31, 2020, the external legal counsel assessed the risk of loss relating to these lawsuits as possible and evaluated the potential loss for PILTDA as US$ 1,926 (US$ 555 as of December 31, 2019) and for PINFRA as US$ 681 (US$ 246 as of December 31, 2019).

Also, there is an ongoing administrative process related to this subject involving PINFRA with a potential loss of US$ 1,124 as of December 31, 2020 (US$ 326 as of December 31, 2019) which was also classified as possible by Management supported by the opinion of external legal counsel. On January 9, 2020, PILTDA received infraction notices in the amount of approximately US$ 4,956 (US$ 0 as of December 31, 2019) related to Social Contributions on Gross Revenue (PIS and COFINS) and in the amount of approximately US$ 1,923 (US$ 0 as of December 31, 2019) related to labor taxes, for which external legal counsel assessed the risk of loss relating to these lawsuits as possible.

As of December 31, 2020, PILTDA is included as a joint defendant in employment lawsuits and civil litigations totaling US$ 714 (US$ 645 as of December 31, 2019) and US$ 721 (US$ 0 as of December 31, 2019), respectively; however, the claims arise from questions related to outsourcing companies or to entities in the portfolio of investment funds managed by PILTDA. External legal counsel assesses the risk of loss as possible, but (i) considering that PILTDA was included in these lawsuits as jointly and severally liable and (ii) PILTDA would only be required to make payment in the event that the principal defendants default. Management considers, individually or in the aggregate, the possibility of outflow of resources to be remote.

In 2019 and 2020, PILTDA became involved in other employment lawsuits with risk of loss considered possible by external legal counsel. As of December 31, 2020, the potential loss was US$ 36 (US$ 41 as of December 31, 2019) for which a liability has not been recognized.

The estimated amounts for December 31, 2019 were adjusted to reflect the comparable dollar amounts as of December 31, 2020.

For the periods covered by these financial statements, the Group was not directly involved in lawsuits for which the possibility of loss was probable. Therefore, no provision was recorded pursuant to IAS 37 (Provisions, Contingent Liabilities and Contingent Assets).

Leases

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Leases

The lease commitments in which the Group is a lessee refer to the leasing of its office spaces located in São Paulo, London and Cayman. The Consolidated Statement of Financial Position and the Consolidated Income Statement show the following amounts relating to leases:

Amounts recognized in the Statement of Financial Position


	2020			2019
Right-of-use assets		4,183			5,132
(-) Depreciation of right-of-use assets		(1,988	)		(1,273	)
Right-of-use assets		2,195			3,859

Lease liabilities (current)		780			1,209
Lease liabilities (non-current)		802			1,888
Lease liabilities		1,582			3,097

Amounts recognized in the statement of profit or loss


	2020			2019			2018
Depreciation of right-of-use assets		(1,026	)		(1,273	)		—
Interest on lease liabilities		(869	)		(918	)		—

Revenue from services

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Revenue from services

19	Revenue from services


	2020			2019			2018
Revenue from management fees		112,870			104,872			104,145
Revenue from incentive fees (a)		3,450			18,079			—
Revenue from performance fees (a)		—			4,866			12

Fund fees		116,320			127,817			104,157

Revenue from M&A and monitoring fees		2,491			978			4,977

Total gross revenue from services		118,811			128,795			109,134
Taxes on revenue - management fees		(3,051	)		(2,859	)		(2,754	)
Taxes on revenue - incentive fees		(388	)		(2,040	)		—
Taxes on revenue - performance fees		—			(542	)		(1	)
Taxes on revenue - M&A and monitoring fees		(355	)		(139	)		(709	)
Taxes on revenue		(3,794	)		(5,580	)		(3,464	)

Revenue (b)		115,017			123,215			105,670

Brazil		28,452			35,886			19,669
Cayman Islands		86,565			87,329			86,001

(a)

The incentive and performance fees in 2020 and 2019 are primarily related to the performance of PIPE (Private Investments in Public Equities) and private equity funds.

(b)

The funds managed by us attract and retain many global investors that represent the Group’s portfolio of clients. None of the Group’s individual client represents more than 10% of the total revenues for the presented periods.

Cost of services rendered

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Cost of services rendered

20	Cost of services rendered


	2020			2019			2018
Salaries and wages		(7,896	)		(10,165	)		(10,413	)
Directors and officers’ compensation (note 27)		(2,582	)		(2,738	)		(2,720	)
Officers’ fund		(431	)		1,037			(546	)
Rewards and bonuses		(11,800	)		(17,785	)		(14,264	)
Social security contributions and payroll taxes		(2,356	)		(4,684	)		(4,507	)
Other short-term benefits		(2,164	)		(2,563	)		(2,717	)

Personnel expenses		(27,229	)		(36,898	)		(35,167	)

Amortization of placement agents’ fees (note 12)		(2,300	)		(2,270	)		(2,293	)
Rebate fees		(30	)		(27	)		—

Amortization of placement agents and rebate fees		(2,330	)		(2,297	)		(2,293	)

Amortization of contractual rights (note 12)		(3,623	)		(3,763	)		(3,763	)

Costs of services rendered		(33,182	)		(42,958	)		(41,223	)

Administrative expenses

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Administrative expenses

21	Administrative expenses


	2020			2019			2018
Professional services		(7,351	)		(5,852	)		(6,774	)
Occupancy expenses (a)		(977	)		(1,339	)		(3,745	)
Travel expenses		(1,586	)		(2,760	)		(3,089	)
IT and telecom services		(1,085	)		(1,262	)		(1,415	)
Materials and supplies		(153	)		(227	)		(189	)
Taxes and contributions		(189	)		(358	)		(143	)
Marketing		(386	)		(507	)		(381	)
Depreciation of property and equipment		(654	)		(847	)		(978	)
Depreciation of right-of-use assets		(1,026	)		(1,273	)		—
Software amortization		(84	)		(96	)		(161	)
Other administrative expenses		(1,136	)		(1,181	)		(1,034	)

Administrative expenses		(14,627	)		(15,702	)		(17,909	)

(a)

The decrease in occupancy expenses in 2020 and 2019 is mainly attributed to the adoption of a new accounting policy regarding lease agreements from January 1, 2019. On the other hand, depreciation charge of

right-of-use

assets in the amount of US$ 1,026 and US$ 1,273 was recognized in 2020 and 2019, respectively. The new IFRS 16 requirements are described in note 4(h) and lease disclosures in note 18.

Other income/(expenses)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Other income/(expenses)

22	Other income/(expenses)


	2020			2019			2018
Net loss on sale/disposal of property and equipment		—			(1	)		(120	)
IPO expenses and IPO related bonuses (a)		(2,169	)		—			—
Other		129			67			78

Other income/(expenses)		(2,040	)		66			(42	)

(a)

IPO expenses and IPO related bonuses were recognized related to the Company’s Initial Public Offering concluded on January 21, 2021 (see note 28). The amount was considered according to the costs allocated to the secondary offering and includes US$ 1,665 of IPO related bonuses and US$ 504 in other expenses.

Net financial income/(expense)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Net financial income/(expense)

23	Net financial income/(expense)


	2020			2019			2018
Net financial investment income		366			890			902
Valuation adjustment on long-term investments		(91	)		46			(34	)
Interest on recoverable taxes		4			10			21
Net exchange variation		501			10			(605	)
Interest expenses		(56	)		(95	)		(206	)
Banking fees		(103	)		(151	)		(136	)
Interest on receivables		—			46			5
Interest on lease liabilities		(869	)		(918	)		—
Other financial income/(expenses)		56			(8	)		13

Net financial income/(expense)		(192	)		(170	)		(40	)

Income Taxes Expenses

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Income Taxes Expenses

24	Income taxes expenses

As an entity headquartered in the Cayman Islands, the Company is subject to a neutral tax regime. However, the Group’s subsidiaries headquartered in Brazil, Colombia, Chile, United Kingdom, United States of America and Hong Kong are subject to income taxes as set out by local tax laws.


Reconciliation of income tax	2020			2019			2018
		64,976			64,451			46,456

Bermuda (2018/2019/2020)/Cayman Islands (2020) statutory income tax		—			—			—
Impact of difference in tax rates of foreign subsidiaries		(2,749	)		(3,195	)		(1,564	)
Nondeductible expenses		(386	)		(318	)		(428	)
Total income taxes		(3,136	)		(3,513	)		(1,992	)

Current		(891	)		(3,783	)		(1,210	)
Deferred		(2,245	)		270			(782	)
Effective tax rate		4.8	%		5.5	%		4.3	%

Equity

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Equity

(a)

Capital

On January 13, 2021, the Company carried out a share split of 117:1 (one hundred and seventeen for one). As a result, the share capital previously represented by 1,000,000 common shares was increased to 117,000,000 common shares, with par value of US$ 0.001 each, totaling US$ 1 (one thousand Dollars). The share split has been applied retrospectively to all figures in the consolidated financial statements and notes regarding the number of shares and per share data as if the share split had been in effect for all years presented.

As of December 31, 2020 and 2019, the share capital was distributed as follows:


Shareholder	Shares		Capital (in US$)
Patria Holdings Ltd.		70,200,000		600
Blackstone Pat Holdings IV, LLC		46,800,000		400

Total		117,000,000		1,000

(b)

Additional

paid-in

capital

The amount of US$ 1,557 as of December 31, 2020 and 2019 was recorded as Additional

Paid-in

Capital, as demonstrated below:


Shareholder	Additional Paid-in Capital
Patria Holdings Ltd.		934
Blackstone Pat Holdings IV, LLC		623

Total		1,557

(c)

Dividends

Dividends paid by the Group to the parent company’s shareholders for the period ended December 31, 2020, 2019 and 2018 were:


Shareholder	2020				2019				2018
			US$/share*				US$/share*				US$/share*
Patria Holdings Ltd.		59,358		0.0009		34,693		0.0005		28,547		0.0004
Blackstone Pat Holdings IV, LLC		24,830		0.0004		11,704		0.0003		8,471		0.0002

Total		84,188		0.0012		46,397		0.0004		37,018		0.0003

(*)

Per share after share split, see note 25(a).

Dividends were paid on a disproportional basis using a predetermined formula that considers adjusted net income and other adjustments agreed to by the shareholders in the Group’s shareholders agreement.

For 2019, dividends were proposed, approved, accrued and paid in March 2020 in the amount of US$ 35,929. For 2020 dividends were proposed, approved and accrued in December 2020 in the amount of US$ 48,259, of which US$ 25,000 were paid in December 2020 and US$ 23,259 were paid in January 2021.

(d)

Earnings per share (basic and diluted)

Basic earnings per share have been calculated based on the Group’s profit for the year attributable to the holders of the Group’s common shares.

Diluted earnings per share are equal to basic earnings per share as there are no outstanding financial instruments or agreements convertible into potentially dilutive common shares in the reporting periods.


	2020		2019		2018
Net income for the year attributable to the Group´s owners		62,209		58,539		43,669
Weighted average number of shares		117,000,000		117,000,000		117,000,000
Basic and diluted earnings per share		0.0005		0.0005		0.0004

(e)

Adjustments regarding the initial application of IFRS 16

On January 1, 2019, the Group recognized an increase of US$ 714 on retained earnings due to the adoption of IFRS 16 as described in note 4(h).

(f)

Cumulative Translation Adjustments

The Company translates the financial information of its subsidiaries from their functional currency to U.S. Dollars, which is the Company’s and the Group’s presentation currency. The effects of the translation are accounted and presented on Equity under the caption “Cumulative Translation Adjustments”.

(g)

Non-controlling

interests

The Group’s subsidiary with

non-controlling

interests as of December 31, 2020 and 2019 is Patria Investimentos Ltda. This entity has share capital consisting solely of ordinary shares.


	2020								2019
	Interest			Equity		Net income			Interest			Equity		Net income
Patria Investimentos Ltda.		49	%		1,758		(369	)		49	%		7,590		2,399

Non-controlling

interests received US$ 3,552, US$ 489 and US$ 991 in dividends in 2020, 2019 and 2018, respectively.

Information on the Group’s subsidiary with

non-controlling

interest is set out below. They have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business.

Patria Investimentos Ltda.


Summarized balance sheet	2020			2019
Current assets		12,709			17,617
Current liabilities		10,530			11,429
Current net assets		2,179			6,188

Non-current assets		6,748			35,344
Non-current liabilities		942			8,348
Non-current net assets		5,806			26,996

Net assets		7,985			33,184


Summarized statement of comprehensive income	2020			2019			2018
Revenue		29,857			41,231			34,062
Net income for the year		1,962			4,896			1,623
Other comprehensive income		—			—			—
Total comprehensive income		1,962			4,896			1,623

Profit allocated to NCI		—			—			—
Dividends paid to NCI		(3,552	)		(1,003	)		(1,814	)

Summarized cash flows	2020			2019			2018
Cash flows from operating activities		7,188			4,314			5,053
Cash flows from investing activities		1,652			(238	)		(746	)
Cash flows from financing activities		(8,833	)		(2,521	)		(1,814	)
Effects of exchange rate changes on cash and cash equivalents		(33	)		(141	)		(216	)

Net increase (decrease) in cash and cash equivalents		(26	)		1,414			2,277

Financial Instruments

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Financial Instruments

26	Financial instruments

(a)

Financial instruments by categories

The Group classifies its financial instruments into the categories below:


Financial assets	2020		2019
Financial assets at amortized cost
Accounts receivable		46,015		26,117
Project advances		1,772		7,220
Other assets (excluding advances to suppliers and prepaid expenses)		1,296		953

Financial assets at fair value through profit or loss
Cash and bank accounts		14,052		4,120
Short term investments		9,929		33,030
Long term investments		1,986		3,669

Financial liabilities
Financial liabilities at amortized cost
Lease liabilities		1,582		3,097
Placement Agent		1,250
Other liabilities (excluding advances from customers)		3,252		666

Financial liabilities at fair value through profit or loss
Investment fund share held by non-controlling		1,515		3,158

(b)

Financial instruments measured at fair value

The fair value measurement methodologies are classified according to the following hierarchical levels:

•

Level

: measurement based on quotations of identical financial instruments, traded in an active market, without any adjustments;

•

Level

: valuation techniques based on observable inputs. This category covers financial instruments that are valued using: (i) quotations of similar financial instruments, traded in an active market; (ii) quotations of identical or similar financial instruments, traded in a fairly inactive market; and (iii) other valuation techniques in which all significant inputs are directly or indirectly observable in market input;

•

Level

: valuation techniques based on unobservable inputs. This category covers all financial instruments whose valuation techniques are based on inputs not observable in market inputs, when such inputs have a significant impact on the measurement of their fair values. This category includes financial instruments that are valued based on quotations of similar financial instruments that, however, require adjustments and assumptions to ensure that their fair values reflect the differences among them.

As of December 31, 2020 and 2019, cash and investments were measured by level 1 and level 2 methodologies, respectively.

(c)

Financial instruments measured at amortized costs

As of December 31, 2020 and 2019, the book values of the financial instruments measured at amortized cost correspond approximately to their fair values, because the majority of them are short term financial assets and liabilities or the impact of the time value of money is not material.

(d)

Risk management

The Group is exposed to the following risks arising from the use of financial instruments:

(i)

Credit risk

(ii)

Liquidity risk

(iii)

Market risk

Credit risk

Credit risk is the possibility of incurring a financial loss if a client or a counterpart in a financial instrument fails to perform its contractual obligations.

The Group has low exposure to credit risk because its customer base is formed by investors in each fund. These investors are required to comply with the capital calls in order to repay related fund expenses. If capital calls are not complied with, the participation of that investor is diluted among the remaining investors of the fund. In addition, management fees could be settled by the sale of the underlying investments kept by the funds. Therefore, as of December 31, 2020 and December 31, 2019 there are no past due accounts receivable over 90 days, as well as no write-offs on accounts receivable. The cash as of December 31, 2020 is maintained in large banks with high credit rating scale. Furthermore, the accounts receivable as of December 31, 2020 and 2019 are composed mainly of management fees and performance fees of investment funds managed by the Group itself, and also of advisory fees and reimbursement of expenses to be received from investees of such funds.

The amounts receivable and project advances as of December 31, 2020 are expected to be received as demonstrated below:


	Overdue Less than 90 days		01 to 90 days		91 to 180 days		181 to 270 days		Due in 271 to 360 days		Over 360 days		Total
Accounts Receivable (a)		2,198		10,828		—		—		10,996		21,993		46,015
Project Advances		—		1,277		—		—		—		495		1,772

Total		2,198		12,105		—		—		10,996		22,488		47,787

(a)

Non current balances are related to management fees receivable from fund Private Equity IV in annual equal installments in December 31, 2022 and 2023.

ii.

Liquidity Risk

Liquidity risk is the possibility of imbalances between tradable assets and liabilities, payables and receivables mismatches, which might affect the Group’s payment ability, taking into consideration the different currencies and settlement terms of its assets and liabilities.

The Group performs the financial management of its cash and cash equivalents, keeping them available for paying its obligations, and reducing its exposure to liquidity risk.

Expected future payments for liabilities as at December 31, 2020 are shown below.


	Expected liabilities to be paid in
	01 to 60 days		61 to 120 days		121 to 180 days		181 to 360 days		Over 360 days		Total
Personnel and related taxes (excluding officers’ fund and accrued vacation and related charges)		10,611		—		—		—		—		10,611
Dividends payable		23,259		—		—		—		—		23,259
Suppliers		3,039		—		—		—		—		3,039
Placement agents’ fees		450		400		—		400		—		1,250
Investment funds participating shares		—		—		—		—		1,515		1,515
Lease payments (a)		252		252		266		746		1,859		3,375
Other liabilities (excluding advances from customers)		156		—		—		—		57		213

Total		37,767		652		266		1,146		3,431		43,262

(a)

Amounts reflect future cash outflow to settle liabilities, which include interest.

iii.

Market risk

Market risk is defined as the possible negative impact on income caused by changes in market prices, such as interest rate, foreign exchange rate, and share prices. The Group’s policy is to minimize its exposure to market risk.

The marketable securities as of December 31, 2020 and 2019 consist basically of investment funds whose portfolio is composed mainly of fixed income assets, which reduces significantly the Group’s exposure to market risk. Besides, the Group does not hold financial liabilities linked to market prices. Therefore, the Group does not have a significant exposure to interest rate risk and is not presenting such sensitivity analysis.

During the years 2020 and 2019, the Group did not hold derivative financial instruments.

Regarding the foreign exchange risk, it results from a possible change in foreign exchange rates that would affect the finance income (or costs and expenses) and the liabilities (or assets) balance of contracts indexed to a foreign currency. The Group measures its foreign exchange exposure by subtracting other than American dollar currencies liabilities from its respective denominated assets, thus obtaining its net foreign exchange exposure and the amount actually affected by exchange fluctuations.

Sensitivity analysis

The sensitivity analysis was based on the material assets and liabilities exposed to currencies fluctuation against US$, as demonstrated below:


As of December 31, 2020
	Balance in each exposure currency												Balance Total in USD		Exchange Variation impact considering 10% change in the ending of period rates.
	BRL(a)		HKD (b)		CLP (c)		COP (d)		GBP (e)		USD		Balance Total in USD
Cash and cash equivalents		626		6,755		49,702		27,512		44		12,922		14,052		113
Short term investments		4,782		—		—		—		—		9,009		9,929		92
Accounts receivable		45,327		6		38,527		132,631		14		37,180		46,015		884
Projects Advance		1,995		44		—		3,972		7		1,371		1,772		39
Other assets		5,979		9		10,525		177,044		64		2,938		4,243		131
Personnel and related taxes		41,308		2,308		121,634		1,409,774		509		4,806		14,329		(952	)
Taxes payable		4,906		122		10,791		159,553		36		—		1,070		(107	)
Other liabilities		12,436		480		12,644		10,042		174		6,573		9,287		(271	)

Net impact																(71	)

BRL - Brazilian Real

HKD - Hong Kong dollar

CLP - Chilean Peso

COP - Colombian Peso

GBP - Pound Sterling

The exposure shows the balance sheet impact considering a US$ valuation increase of 10%. This scenario best reflects the Group expectations based on projections available in the financial market and take into account the closing rates for each year.

Related Parties

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Related Parties

27	Related parties

(a)

Directors and Officers’ compensation

The amounts paid to directors and officers for their roles as executives in 2020, 2019 and 2018 included in “Personnel expenses” are shown below:


	2020			2019			2018
Directors and officers’ compensation		(2,582	)		(2,738	)		(2,720	)

Additionally, directors and officers will receive U$ 0.2 million as bonus in April 30, 2021, which is included in “Personnel expenses”.

(b)

Officers’ Fund


	2020		2019
Other Assets		47		47
Personnel current liabilities		1,271		1,043
Personnel non current liabilities		1,527		1,530

The Plan is administered by the Company through a limited liability entity (the “Officers’ Fund”) registered as an administered fund under the laws of Cayman Islands.

The employees are offered the opportunity to purchase quotas in the Officers’ Fund based on the discretion of the directors of the Officers’ Fund. With the payment of a contribution to the Officers’ Fund on the grant date, these employees are entitled to a cash benefit that is calculated by Management based on defined financial metrics of the Group (e.g. DE – Distributable Earnings) with certain vesting conditions and financial hurdles. Each grant benefit is subject to graded vesting periods of 2 to 4 years. Upon vesting, the benefits are redeemable yearly at the option of the holder or, mandatorily redeemed after two years. Should the employee cease to be eligible for the cash benefit (e.g. as a result of leaving the Group), all unvested benefits are paid based on the amount that was originally contributed to the Plan.

(c)

Long-term investments

As described in note 10(b) and note 15, Patria Brazilian Private Equity General Partner III, Ltd. and Patria Brazil Real Estate Fund General Partner II, Ltd. have a related party (represented by certain of the Group’s founding shareholders) holding a participating share that gives it the right to all returns on Patria Brazil Real Estate Fund II, L.P. and Patria Brazilian Private Equity Fund III, L.P., these investments are recorded under long term investments with equivalent liabilities to the holder of the participating share. All contributions to these funds are made by the related party; distributions received are returned to the related party.

Events After The Reporting Period

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Events After The Reporting Period

28	Events after the reporting period

On January 12, 2021, Patria Holdings Ltd. acquired 100,000 of the common shares of the Company (or 10% of our existing common shares) that were beneficially owned by Blackstone Pat Holdings IV, LLC (“Blackstone”).

As mentioned in note 25(c), on January 21, 2021 the Group paid dividends amounting to US$ 23,259.

On January 21, 2021, Zedra S.A. acquired a limited company in Brazil, with the purpose to establish a company that will be specialized in advisory, consulting and planning of services for the entities or funds directly or indirectly managed by the Group. The acquisition amount was not material.

On January 21, 2021, the Company completed its initial public offering (“IPO”) registration, offering 34,613,647 of class A common shares, out of which 19,147,500 new shares were offered by the company (primary offering) and the remaining 15,466,147 shares were offered by a selling shareholders (secondary offering).

After bank fees, the proceeds received by the Company were US$ 302.7 million. The offering expenses paid between January 1, 2021 and March 31, 2021, net of underwriters ‘commissions and bonuses, were US$ 3,099 out of which US$ 1,368 was recognized directly in the income statement and US$ 1,731 in equity as transaction costs.

The shares offered and sold in the IPO were registered under the Securities Act of 1933, as amended, pursuant to the Company’s Registration Statement on Form

F-1

(Registration N°

333-251823).

The common shares began trading on the Nasdaq Global Select Market

(“NASDAQ-GS”)

on January 22, 2021 under the symbol “PAX”.

Following the IPO the Company has two classes of common shares: Class A common shares, which are entitled to one vote per share, and Class B common shares, which are entitled to 10 votes per share and to maintain a proportional ownership interest in the event that additional Class A common shares are issued. In addition, the Company’s total authorized share capital was US$100,000, divided into 1,000,000,000 shares par value US$0.0001 each, of which:

•

500,000,000 shares are designated as Class A common shares; and

•

250,000,000 shares are designated as Class B common shares.

The Company intends to pay to holders of Class A common shares dividends representing approximately 85% of our Distributable Earnings, subject to adjustment by amounts determined by our board of directors to be necessary or appropriate. The dividend amount could also be adjusted upwards or downwards.

The Company has entered into a purchase agreement among Blackstone, Patria Holdings Ltd, and PILTDA, as part of a corporate reorganization pursuant to which the 19.6%

non-controlling

interest in PILTDA held by Blackstone and the 29.4%

non-controlling

interest in PILTDA held by a related party of Patria Holdings Ltd (the “Related Party”) will be reorganized as follows: (i) the direct interest held by Blackstone in PILTDA will be contributed to the Company in exchange for three Class A common shares to be issued to Blackstone; and (ii) the direct interest held by the Related Party will be redeemed in its entirety at par value for a promissory note and Patria Holdings Ltd will contribute the promissory note to the Company, in consideration for which the Company will issue seven Class B common shares in the first half of 2021.

The Company intends to implement either a share option plan or a restricted share plan in which eligible participants will include members of our management and our employees. Beneficiaries under the share option plan or the restricted share plan, as the case may be, will be granted rights to buy shares based on certain criteria that shall be determined and disclosed prior to the commencement of such plan. The final eligibility of any beneficiary to participate in the share option plan or restricted share plan will be determined by our board of directors.

A subsidiary of the Company, Patria Latin American Growth Opportunity Acquisition Corp (“PLG”) has been incorporated and filed a registration statement on Form

S-1

with the U.S. Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of 25,000,000 units at a price of $10.00 per unit, consisting of one share of Class A common stock and

one-third

of one redeemable warrant. PLG is a new special purpose acquisition company incorporated in the Cayman Islands and sponsored by the Company for the purpose of effecting a business combination with one or more businesses with a focus in Latin America.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Consolidation

Financial instruments

The Group did not hold a

ny derivative instruments for the periods presented in these consolidated financial statements.

Non-derivative

financial instruments comprise of cash, short and long-term investment, accounts receivable, other liabilities, lease obligations, and certain other assets and liabilities.

(i)

Financial assets

Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories:

•

amortized cost

•

fair value through profit or loss (FVTPL)

•

fair value through other comprehensive income (FVOCI).

In the periods presented, the Group does not have any financial assets categorized as FVOCI or financial assets designated as hedging instruments.

The classification is determined by both:

•

the entity’s business model for managing the financial asset

•

the contractual cash flow characteristics of the financial asset.

Amortized cost

Fair value through profit or loss

Any financial assets that are not held within a business model whose objective is to hold assets in order to collect contractual cash flows are measured at fair value through profit or loss.

(ii)

Financial liabilities

Impairment losses

Financial assets

The Group considers the allowance for losses on financial assets for expected credit losses in line of IFRS 9 requirements, if applicable.

Non-financial

assets

The carrying amounts of the Group’s

non-financial

Property and equipment

Depreciation, recognized in the consolidated income statement, is calculated on a straight-line basis over the estimated useful lives of the assets.

The estimated useful lives per category are as follows:


Facilities			10 years
Machinery and equipment			10 years
Furniture and fixtures			10 years
Building improvements (*)			10 years
Electronic equipment			5 years
IT equipment			5 years
Telephone equipment			5 years

(*) Building improvements are depreciated over 10 years or based on the duration of the lease, whichever is shorter.

Although subject to depreciation, these assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable.

Intangible assets

Intangible assets are

non-monetary

Employees' benefits

Employees’ benefits

Current benefits are paid within twelve months and include salaries, social security contributions, bonuses and profit sharing. These benefits are recognized on an accrual basis.

The Group annually recognizes a provision for profit sharing, according to conditions approved by Management. These amounts are recorded as ‘Personnel expenses’ in the income statement.

Provisions, contingent assets and contingent liabilities

•

Contingent Assets: are not recognized, except if the realization of the asset is virtually certain.

•

Leases

The Group has applied the requirements stated in IFRS 16 - Leases for the first time for their annual reporting period commencing January 1, 2019.

non-cancellable

The Group does not hold lease contracts as a lessor. For the contracts in which the Group is the lessee, the Group recognizes a

right-of-use

asset and a lease liability at the commencement date. A

right-of-use

asset at cost, less any accumulated depreciation and any accumulated impairment losses, and adjust it for any remeasurement of the lease liability.

Revenues

The Group’s revenues from services consist of (i) management fees, (ii) performance fees, (iii) incentive fees, (iv) M&A advisory fees and (v) monitoring fees, reported net of applicable taxes.

Financial income and expenses

Financial income is mainly composed of interest on short and long-term investments and foreign exchange gains in monetary items.

Financial expenses include interest, foreign exchange losses in monetary items, banking costs and taxes on financial transactions, recognized on an accrual basis.

Income tax expenses – current and deferred

Income tax comprises current and deferred income taxes.

The Group applies the IFRIC 23 Uncertainty over Income Tax Treatment and did not identify a significant impact on its taxable profit or loss from uncertainties over income tax treatments.

Foreign-currency transactions

non-controlling

interests as appropriate).

Amendments to IFRSs that are mandatorily effective for annual periods beginning on January 1, 2020

The Group has evaluated and adopted, when applicable, the following standards and amendments for the first time for their annual reporting period commencing January 1, 2020:

•

Amendments to References to the Conceptual Framework in IFRS Standards.

•

Amendments to IFRS 3 Definition of a business.

•

Amendments to IFRS 16 –

Covid-19-related

Rent Concessions.

•

Interest Rate Benchmark Reform – Amendments to IFRS 7, IFRS 9 and IAS 39.

The amendments listed above did not have a material impact on these consolidated financial statements and are not expected to significantly affect the current or future periods.

New standards and interpretations not yet adopted– applicable and mandatory for fiscal years beginning on or after January 1, 2021

•

IFRS 17 – Insurance Contracts.

•

Amendments to IAS 1 – Classification of Liabilities as Current or

Non-current.

•

Amendments to IAS 16 – Property, Plant and Equipment: Proceeds before intended use.

•

Amendments to IFRS 3 – Reference to the Conceptual Framework.

•

Amendments to IAS 37 – Cost of Fulfilling a Contract - Onerous Contracts.

•

Annual Improvements to IFRS Standards 2018–2020 (IFRS 9, IFRS 16, IFRS 1 and IAS 41).

•

Amendments to IFRS 10 and IAS 28 – Sale or contribution of assets between an investor and its associate or joint venture.

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of estimated useful lives of property plant and equipment

The estimated useful lives per category are as follows:


Facilities			10 years
Machinery and equipment			10 years
Furniture and fixtures			10 years
Building improvements (*)			10 years
Electronic equipment			5 years
IT equipment			5 years
Telephone equipment			5 years

(*) Building improvements are depreciated over 10 years or based on the duration of the lease, whichever is shorter.

Consolidation and subsidiaries (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of Consolidated Significant Subsidiaries [Abstract]

Schedule of significant subsidiaries

The consolidated financial statements include the entities listed below which are the Company’s direct or indirect subsidiaries:


		Functional Currency	Equity interest (direct or indirect) (%)
Subsidiaries			2020			2019
Patria Finance Ltd.	(a)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity III, Ltd.	(b)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity General Partner IV, Ltd.	(c)	USD		100.00	%		100.00	%
PBPE General Partner V, Ltd.	(d)	USD		100.00	%		100.00	%
Patria Brazilian Private Equity General Partner VI, Ltd.	(e)	USD		100.00	%		100.00	%
Patria Brazil Real Estate Fund General Partner II, Ltd.	(f)	USD		100.00	%		100.00	%
Patria Brazil Real Estate Fund General Partner III Ltd.	(g)	USD		100.00	%		100.00	%
Patria Brazil Retail Property Fund General Partner, Ltd.	(h)	USD		100.00	%		100.00	%
Patria Investments UK Ltd.	(i)	GBP		100.00	%		100.00	%
Patria Investments US LLC	(j)	USD		100.00	%		100.00	%
Patria Investments Colombia S.A.S.	(k)	COP		100.00	%		100.00	%
Patria Infrastructure General Partner II Ltd.	(l)	USD		100.00	%		100.00	%
Patria Infrastructure General Partner III Ltd.	(m)	USD		100.00	%		100.00	%
Patria Infrastructure General Partner IV Ltd.	(n)	USD		100.00	%		100.00	%
Pátria Investimentos Ltda.	(o)	BRL		51.00	%		51.00	%
Pátria Companhia Securitizadora de Créditos Imobiliários	(p)	BRL		51.00	%		51.00	%
Zedra S.A.	(q)	UYU		100.00	%		—
Improdem S.A.	(r)	UYU		100.00	%		—
Patria Investments Cayman Ltd.	(s)	USD		100.00	%		—
Patria Investments Chile SpA	(t)	CLP		100.00	%		100.00	%
Patria Investments Hong Kong, Ltd.	(u)	HKD		100.00	%		100.00	%
Patria Farmland General Partner, Ltd.	(v)	USD		100.00	%		100.00	%

“USD” United States dollars

“BRL” Brazilian Real

“GBP” Pound sterling

“CLP” Chilean peso

“COP” Colombian peso

“HKD” Hong Kong dollar

(a)

Patria Finance Ltd.:

(b)

Patria Brazilian Private Equity III, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(c)

Patria Brazilian Private Equity General Partner IV, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(d)

PBPE General Partner V, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(e)

Patria Brazilian Private Equity General Partner VI, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(f)

Patria Brazil Real Estate Fund General Partner II Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(g)

Patria Brazil Real Estate Fund General Partner III Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(h)

Patria Brazil Retail Property Fund General Partner, Ltd.

: headquartered in the Cayman Islands, and serves as manager of offshore funds.

(i)

Patria Investments UK Ltd.

: headquartered in London (UK), and is engaged in the development of investor relations.

(j)

Patria Investments US LLC:

a subsidiary of Patria Investments UK Ltd., headquartered in Delaware (USA) and is engaged in the development of investor relations and marketing services, as well as certain back office services.

(k)

Patria Investments Colombia S.A.S.

(l)

Patria Infrastructure General Partner II, Ltd.

(m)

Patria Infrastructure General Partner III, Ltd.

(n)

Patria Infrastructure General Partner IV, Ltd.:

headquartered in the Cayman Islands and serves as manager of offshore funds.

(o)

Pátria Investimentos Ltda. (“PILTDA”):

(p)

Pátria Companhia Securitizadora de Créditos Imobiliários:

(q)

Zedra S.A.:

acquired in September 2020* and headquartered in Uruguay, holding company which will provide financial advisory services to the Group.

(r)

Patria Investments Uruguay S.A.

(s)

Patria Investments Cayman Ltd.:

created in October 19, 2020, headquartered in the Cayman Islands and serves as holding company for the Group investing activities.

(t)

Patria Investments Chile SpA.:

headquartered in Chile and engaged in advisory services related to asset management of investment funds and investments in infrastructure, as well as investor relations and marketing services.

(u)

Patria Investments Hong Kong, Ltd.:

a subsidiary of Patria Investments UK Ltd., headquartered in Hong Kong and engaged in the development of investor relations and marketing services.

(v)

Patria Farmland General Partner, Ltd.:

a subsidiary of Patria Finance Ltd, headquartered in Cayman Islands and serves as manager of offshore funds.

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of cash and cash equivalents


	2020		2019
Bank accounts		14,052		4,120

Accounts receivable (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of accounts receivables


	2020		2019
Current		24,022		11,007
Non-current (a)		21,993		15,110

Accounts receivable		46,015		26,117

(a)

Non-current

Project advances (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of project advances receivable explanatory


	2020		2019
Current		1,277		6,431
Non-current		495		789

Project advances		1,772		7,220

Other assets (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of other assets current and non current


	2020		2019
Advances to suppliers (a)		1,583		107
Advances to employees		283		354
Prepaid expenses (b)		966		858
Officer’s fund (c)		47		47
IPO costs (d)		624		—
Other current assets		200		419

Other current assets		3,703		1,785

Prepaid expenses (b)		398		407
Deposit/guarantee on lease agreement		142		133

Other non-current assets		540		540

(a)

year-end.

(b)

(c)

(d)

Investments (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of short term investments

Short-term investments


	2020		2019
Loan (a)		—		13,031
Securities (b)		9,929		19,999

Short-term investments		9,929		33,030

(a)

(b)

Investments into short-term, liquid investment funds with portfolios made of term deposits, equities, government bonds and other short-term liquid securities.

Summary of long term investments

Long-term investments


	2020		2019
Patria Brazil Real Estate Fund II, L.P. (a)		1,146		2,712
Patria Brazilian Private Equity Fund III, L.P. (a)		369		446
Patria Brazilian Private Equity Fund IV, L.P.		102		129
Patria Brazilian Private Equity Fund V, L.P.		89		100
Patria Brazil Real Estate Fund III, L.P.		32		54
Patria Private Equity Fund VI, L.P.		130		35
Patria Infrastructure Fund II, L.P.		44		83
Patria Infrastructure Fund III, L.P.		61		91
Patria Infrastructure Fund IV, L.P.		1		—
Patria lnfrastructure II LAP Co-lnvest UK, L.P.		3		4
Patria Alphaville Co-Invest, L.P.		4		6
Patria Farmland Fund I, L.P.		1		2
Other investments		4		7

Long-term investments		1,986		3,669

(a)

Property and equipment (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of property and equipment


Changes in cost	2020
	Opening balance		Additions		Disposals		Transfer		CTA (*)			Closing balance
Furniture and fixtures		883		15		—		—		(172	)		726
Building improvements		3,617		34		—		—		(654	)		2,997
Electronic equipment		222		11		—		—		(49	)		184
IT equipment		2,043		97		—		—		(356	)		1,784
Telecommunication equipment		352		6		—		—		(77	)		281
Right-of-use assets (a)		5,168		137		—		—		(1,122	)		4,183

Cost of fixed assets		12,285		300		—		—		(2,430	)		10,155


Changes in accumulated depreciation	2020
	Opening balance			Additions			Disposals		Transfer		CTA			Closing balance
(-) Furniture and fixtures		(451	)		(71	)		—		—		100			(422	)
(-) Building improvements		(2,045	)		(391	)		—		—		366			(2,070	)
(-) Electronic equipment		(176	)		(13	)		—		—		40			(149	)
(-) IT equipment		(1,558	)		(175	)		—		—		288			(1,445	)
(-)Telecommunication equipment		(335	)		(4	)		—		—		77			(262	)
(-) Right-of-use assets (a)		(1,256	)		(1,026	)		—		—		294			(1,988	)

Total - Accumulated depreciation		(5,821	)		1,680			—		—		1,165			(6,336	)

Property and equipment, net		6,464			(1,380	)		—		—		(1,265	)		3,819

(*)

CTA – Cumulative translation adjustment


Changes in cost	2019
	Opening balance		Adoption of IFRS 16		Adjusted opening balance		Additions		Disposals			Transfer			CTA			Closing balance
Furniture and fixtures		900		—		900		15		(2	)		2			(32	)		883
Building improvements		3,771		—		3,771		34		—			—			(188	)		3,617
Electronic equipment		221		—		221		8		—			—			(7	)		222
IT equipment		1,973		—		1,973		91		—			(2	)		(19	)		2,043
Telecommunication equipment		364		—		364		—		—			—			(12	)		352
Right-of-use assets (a)		—		5,132		5,132		—		—			—			36			5,168

Cost of fixed assets		7,229		5,132		12,361		148		(2	)		—			(222	)		12,285

Changes in accumulated depreciation	2019
	Opening balance			Adoption of IFRS 16		Adjusted opening balance			Additions			Disposals			Transfer		CTA			Closing balance
(-) Furniture and fixtures		(376	)		—		(376	)		(93	)		—			—		18			(451	)
(-) Building improvements		(1,630	)		—		(1,630	)		(477	)		—			—		62			(2,045	)
(-) Electronic equipment		(167	)		—		(167	)		(15	)		—			—		6			(176	)
(-) IT equipment		(1,351	)		—		(1,351	)		(257	)		—			—		50			(1,558	)
(-)Telecommunication equipment		(339	)		—		(339	)		(5	)		—			—		9			(335	)
(-) Right-of-use assets (a)		—			—		—			(1,273	)		—			—		17			(1,256	)

Total - Accumulated depreciation		(3,863	)		—		(3,863	)		(2,120	)		—			—		162			(5,821	)

Property and equipment, net		3,366			5,132		8,498			(1,972	)		(2	)		—		(60	)		6,464


Changes in cost	2018
	Opening balance		Additions		Disposals			Transfer		CTA			Closing balance
Furniture and fixtures		831		216		(15	)		—		(132	)		900
Building improvements		3,867		551		(143	)		—		(504	)		3,771
Electronic equipment		241		20		(4	)		—		(36	)		221
IT equipment		2,128		198		(6	)		—		(347	)		1,973
Telecommunication equipment		398		25		—			—		(59	)		364

Cost of fixed assets		7,465		1,010		(168	)		—		(1,078	)		7,229


Changes in accumulated depreciation	2018
	Opening balance			Additions			Disposals			Transfer		CTA			Closing balance
(-) Furniture and fixtures		(346	)		(88	)		3			—		55			(376	)
(-) Building improvements		(1,450	)		(437	)		31			—		226			(1,630	)
(-) Electronic equipment		(151	)		(41	)		2			—		23			(167	)
(-) IT equipment		(1,203	)		(347	)		3			—		196			(1,351	)
(-)Telecommunication equipment		(329	)		(65	)		—			—		55			(339	)


Total - Accumulated depreciation		(3,479	)		(978	)		39			—		555			(3,863	)

Property and equipment, net		3,986			32			(129	)		—		(523	)		3,366

(a)

As disclosed in note 25(e), on the adoption of IFRS 16 the Group recognized

right-of-use

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of Intangible assets


Changes in costs	2020
	Opening balance		Additions		Disposals		Transfer			CTA			Closing balance
Placement agents (a)		35,284		2,000		—		—			(388	)		36,896
Contractual rights (b)		44,156		—		—		—			—			44,156
Software		743		497		—		38			(63	)		1,215
Software implementation costs		144		—		—		(38	)		(8	)		98

Cost of intangible assets		80,327		2,497		—		—			(459	)		82,365


Changes in accumulated amortization	2020
	Opening balance			Additions			Disposals		Transfer		CTA		Closing Balance
(-) Placement agents (a)		(27,387	)		(2,300	)		—		—		772		(28,915	)
(-) Contractual rights (b)		(26,805	)		(3,623	)		—		—		—		(30,428	)
(-) Software		(678	)		(84	)		—		—		97		(665	)

Accumulated amortization		(54,870	)		(6,007	)		—		—		869		(60,008	)

Intangible assets, net		25,457			(3,510	)		—		—		410		22,357


Changes in costs		2019
	Opening balance		Additions		Disposals			CTA			Closing balance
Placement agents (a)		35,350		3		—			(69	)		35,284
Contractual rights (b)		44,156		—		—			—			44,156
Software		851		2		(74	)		(36	)		743
Software implementation costs		80		64		—			—			144

Cost of intangible assets		80,437		69		(74	)		(105	)		80,327


Changes in accumulated amortization		2019
	Opening balance			Additions			Disposals			CTA		Closing balance
(-) Placement agents (a)		(25,153	)		(2,297	)		—			63		(27,387	)
(-) Contractual rights (b)		(23,042	)		(3,763	)		—			—		(26,805	)
(-) Software		(688	)		(96	)		—			106		(678	)

Accumulated amortization		(48,883	)		(6,156	)		—			169		(54,870	)

Intangible assets, net		31,554			(6,087	)		(74	)		64		25,457


Changes in costs		2018
	Opening balance		Additions		Disposals			CTA			Closing balance
Placement agents (a)		35,335		276		—			(261	)		35,350
Contractual rights (b)		44,156		—		—			—			44,156
Software		925		64		(3	)		(135	)		851
Software implementation costs		—		80		—			—			80

Cost of intangible assets		80,416		420		(3	)		(396	)		80,437


Changes in accumulated amortization		2018
	Opening balance			Additions			Disposals			CTA			Closing balance
(-) Placement agents (a)		(22,985	)		(2,293	)		—			125			(25,153	)
(-) Contractual rights (b)		(19,279	)		(3,763	)		—			—			(23,042	)
(-) Software		(635	)		(161	)		—			108			(688	)

Accumulated amortization		(42,899	)		(6,217	)		—			233			(48,883	)

Intangible assets, net		37,517			(5,797	)		(3	)		(163	)		31,554

Summary of remaining balance expected to be amortized

The remaining balance as of December 31, 2020 is expected to be amortized as shown below:


	2021		2022		2023		2024		2025		2026		2027		2028		2029		2030		2031		Total
Placement agent fees		2,154		1,412		1,213		1,109		991		198		198		181		175		175		175		7,981

Summary of breakdown of the total intangible assets

(c)

Following is the breakdown of the total intangible assets by region:


	2020		2019
Brazil		815		886
Cayman Islands		21,542		24,571

Balance at December 31		22,357		25,457

Personnel and related taxes (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of personnel and related taxes


	2020		2019
Personnel and taxes		222		246
Withholding income tax on payroll		150		219
Accrued vacation and related charges		920		1,124
Employee profit sharing (a)		10,239		11,450
Officers’ fund (b)		1,271		1,043

Personnel and related taxes current		12,802		14,082

Officers’ fund (b)		1,527		1,530

Personnel non-current liabilities		1,527		1,530

(a)

(b)

Represents the amount of accrued employee benefits related to the Officers’ fund, as described in the notes 4(f) and 27(b)).

Taxes payable (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of taxes payable


	2020		2019
Taxes on revenues		902		885
Income taxes		119		1,326
Other taxes payable		49		30

Taxes payable		1,070		2,241

Other liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Schedule of other liabilities


	2020		2019
Placement agent fees		1,250		—
Suppliers		3,039		492
Advances from customers		1,688		932
Occupancy costs		146		6
Lease liabilities (a)		780		1,209
Other current liabilities		10		79

Other current liabilities		6,913		2,718

Investment fund participating share in Patria Brazilian Private Equity General Partner III, Ltd. and Patria Brazil Real Estate Fund II, L.P. (b)		1,515		3,158
Lease liabilities (a)		802		1,888
Other non-current liabilities		57		89

Other non-current liabilities		2,374		5,135

(a)

(b)

Deferred taxes (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Schedule of deferred tax


	2020		2019
Deferred tax assets on the provision for employee profit sharing (a)		1,945		3,220
Deferred tax assets on management fee provision(a)		391		1,442
Deferred tax assets on deductible goodwill (b)		—		1,260
Others		2		82

Deferred tax assets		2,338		6,004

Deferred tax liabilities on initial application of IFRS 16		185		365
Others		—		37

Deferred tax liabilities		185		402

(a)

Deferred income tax calculated on temporary differences on the provision for employee profit sharing and management fee write-offs.

(b)

Deferred tax asset related to tax deductible goodwill.

Summary of deferred tax assets and liabilities


Deferred tax assets

	Employee profit sharing			Management fee provision			Taxable Goodwill			Impact of IFRS 16			Other			Total
As of December 31, 2017		3,042			673			4,094			—			—			7,809

(Charged)/credited
- to profit or loss		(470	)		281			(1.691	)		—			—			(1.880	)
As of December 31, 2018		2,572			954			2,403			—						5,929

(Charged)/credited
- to profit or loss		648			488			(1,143	)		48			34			75
As of December 31, 2019		3,220			1,442			1,260			48			34			6,004

(Charged)/credited
- to profit or loss		(560	)		(724	)		(984	)		(37	)		(37	)		(2,342	)
- directly to equity / CTA		(715	)		(327	)		(276	)		(11	)		5			(1,324	)

As of December 31, 2020		1,945			391			—			—			2			2,338


Deferred tax liabilities	Initial application of IFRS 16			Other			Total
As of December 31, 2017		—			53			53

(Charged)/credited
- to profit or loss		—			12			12
As of December 31, 2018		—			65			65

(Charged)/credited
- to profit or loss		6			(28	)		(22	)
- directly to equity / CTA		359			—			359

As of December 31, 2019		365			37			402

(Charged)/credited
- to profit or loss		(98	)		1			(97	)
- directly to equity / CTA		(82	)		(38	)		(120	)

As of December 31, 2020		185			0			185

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of Amounts Recognized In The Statement of Financial Position

Amounts recognized in the Statement of Financial Position


	2020			2019
Right-of-use assets		4,183			5,132
(-) Depreciation of right-of-use assets		(1,988	)		(1,273	)
Right-of-use assets		2,195			3,859

Lease liabilities (current)		780			1,209
Lease liabilities (non-current)		802			1,888
Lease liabilities		1,582			3,097

Summary of Amounts Recognized In The Statement of Profit Or Loss

Amounts recognized in the statement of profit or loss


	2020			2019			2018
Depreciation of right-of-use assets		(1,026	)		(1,273	)		—
Interest on lease liabilities		(869	)		(918	)		—

Revenue from services (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of revenue from services


	2020			2019			2018
Revenue from management fees		112,870			104,872			104,145
Revenue from incentive fees (a)		3,450			18,079			—
Revenue from performance fees (a)		—			4,866			12

Fund fees		116,320			127,817			104,157

Revenue from M&A and monitoring fees		2,491			978			4,977

Total gross revenue from services		118,811			128,795			109,134
Taxes on revenue - management fees		(3,051	)		(2,859	)		(2,754	)
Taxes on revenue - incentive fees		(388	)		(2,040	)		—
Taxes on revenue - performance fees		—			(542	)		(1	)
Taxes on revenue - M&A and monitoring fees		(355	)		(139	)		(709	)
Taxes on revenue		(3,794	)		(5,580	)		(3,464	)

Revenue (b)		115,017			123,215			105,670

Brazil		28,452			35,886			19,669
Cayman Islands		86,565			87,329			86,001

(a)

The incentive and performance fees in 2020 and 2019 are primarily related to the performance of PIPE (Private Investments in Public Equities) and private equity funds.

(b)

Cost of services rendered (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of Cost of services rendered


	2020			2019			2018
Salaries and wages		(7,896	)		(10,165	)		(10,413	)
Directors and officers’ compensation (note 27)		(2,582	)		(2,738	)		(2,720	)
Officers’ fund		(431	)		1,037			(546	)
Rewards and bonuses		(11,800	)		(17,785	)		(14,264	)
Social security contributions and payroll taxes		(2,356	)		(4,684	)		(4,507	)
Other short-term benefits		(2,164	)		(2,563	)		(2,717	)

Personnel expenses		(27,229	)		(36,898	)		(35,167	)

Amortization of placement agents’ fees (note 12)		(2,300	)		(2,270	)		(2,293	)
Rebate fees		(30	)		(27	)		—

Amortization of placement agents and rebate fees		(2,330	)		(2,297	)		(2,293	)

Amortization of contractual rights (note 12)		(3,623	)		(3,763	)		(3,763	)

Costs of services rendered		(33,182	)		(42,958	)		(41,223	)

Administrative expenses (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of administrative expenses


	2020			2019			2018
Professional services		(7,351	)		(5,852	)		(6,774	)
Occupancy expenses (a)		(977	)		(1,339	)		(3,745	)
Travel expenses		(1,586	)		(2,760	)		(3,089	)
IT and telecom services		(1,085	)		(1,262	)		(1,415	)
Materials and supplies		(153	)		(227	)		(189	)
Taxes and contributions		(189	)		(358	)		(143	)
Marketing		(386	)		(507	)		(381	)
Depreciation of property and equipment		(654	)		(847	)		(978	)
Depreciation of right-of-use assets		(1,026	)		(1,273	)		—
Software amortization		(84	)		(96	)		(161	)
Other administrative expenses		(1,136	)		(1,181	)		(1,034	)

Administrative expenses		(14,627	)		(15,702	)		(17,909	)

(a)

right-of-use

assets in the amount of US$ 1,026 and US$ 1,273 was recognized in 2020 and 2019, respectively. The new IFRS 16 requirements are described in note 4(h) and lease disclosures in note 18.

Other income/(expenses) (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of Other income/(expenses)


	2020			2019			2018
Net loss on sale/disposal of property and equipment		—			(1	)		(120	)
IPO expenses and IPO related bonuses (a)		(2,169	)		—			—
Other		129			67			78

Other income/(expenses)		(2,040	)		66			(42	)

(a)

Net financial income/(expense) (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of Net Financial Income/(Expense)


	2020			2019			2018
Net financial investment income		366			890			902
Valuation adjustment on long-term investments		(91	)		46			(34	)
Interest on recoverable taxes		4			10			21
Net exchange variation		501			10			(605	)
Interest expenses		(56	)		(95	)		(206	)
Banking fees		(103	)		(151	)		(136	)
Interest on receivables		—			46			5
Interest on lease liabilities		(869	)		(918	)		—
Other financial income/(expenses)		56			(8	)		13

Net financial income/(expense)		(192	)		(170	)		(40	)

Income Taxes Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of reconciliation of average effective tax rate and applicable tax rate


Reconciliation of income tax	2020			2019			2018
		64,976			64,451			46,456

Bermuda (2018/2019/2020)/Cayman Islands (2020) statutory income tax		—			—			—
Impact of difference in tax rates of foreign subsidiaries		(2,749	)		(3,195	)		(1,564	)
Nondeductible expenses		(386	)		(318	)		(428	)
Total income taxes		(3,136	)		(3,513	)		(1,992	)

Current		(891	)		(3,783	)		(1,210	)
Deferred		(2,245	)		270			(782	)
Effective tax rate		4.8	%		5.5	%		4.3	%

Equity (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of share capital

As of December 31, 2020 and 2019, the share capital was distributed as follows:


Shareholder	Shares		Capital (in US$)
Patria Holdings Ltd.		70,200,000		600
Blackstone Pat Holdings IV, LLC		46,800,000		400

Total		117,000,000		1,000

Summary of additional paid-in capital

The amount of US$ 1,557 as of December 31, 2020 and 2019 was recorded as Additional

Paid-in

Capital, as demonstrated below:


Shareholder	Additional Paid-in Capital
Patria Holdings Ltd.		934
Blackstone Pat Holdings IV, LLC		623

Total		1,557

Summary of dividends paid by the group

Dividends paid by the Group to the parent company’s shareholders for the period ended December 31, 2020, 2019 and 2018 were:


Shareholder	2020				2019				2018
			US$/share*				US$/share*				US$/share*
Patria Holdings Ltd.		59,358		0.0009		34,693		0.0005		28,547		0.0004
Blackstone Pat Holdings IV, LLC		24,830		0.0004		11,704		0.0003		8,471		0.0002

Total		84,188		0.0012		46,397		0.0004		37,018		0.0003

(*)

Per share after share split, see note 25(a).

Summary of earnings per share


	2020		2019		2018
Net income for the year attributable to the Group´s owners		62,209		58,539		43,669
Weighted average number of shares		117,000,000		117,000,000		117,000,000
Basic and diluted earnings per share		0.0005		0.0005		0.0004

Summary of the subsidiary with non-controlling interests

The Group’s subsidiary with

non-controlling

interests as of December 31, 2020 and 2019 is Patria Investimentos Ltda. This entity has share capital consisting solely of ordinary shares.


	2020								2019
	Interest			Equity		Net income			Interest			Equity		Net income
Patria Investimentos Ltda.		49	%		1,758		(369	)		49	%		7,590		2,399

Summary of financial statement

Patria Investimentos Ltda.


Summarized balance sheet	2020			2019
Current assets		12,709			17,617
Current liabilities		10,530			11,429
Current net assets		2,179			6,188

Non-current assets		6,748			35,344
Non-current liabilities		942			8,348
Non-current net assets		5,806			26,996

Net assets		7,985			33,184


Summarized statement of comprehensive income	2020			2019			2018
Revenue		29,857			41,231			34,062
Net income for the year		1,962			4,896			1,623
Other comprehensive income		—			—			—
Total comprehensive income		1,962			4,896			1,623

Profit allocated to NCI		—			—			—
Dividends paid to NCI		(3,552	)		(1,003	)		(1,814	)

Summarized cash flows	2020			2019			2018
Cash flows from operating activities		7,188			4,314			5,053
Cash flows from investing activities		1,652			(238	)		(746	)
Cash flows from financing activities		(8,833	)		(2,521	)		(1,814	)
Effects of exchange rate changes on cash and cash equivalents		(33	)		(141	)		(216	)

Net increase (decrease) in cash and cash equivalents		(26	)		1,414			2,277

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about financial instruments [line items]

Summary of the financial instruments

The Group classifies its financial instruments into the categories below:


Financial assets	2020		2019
Financial assets at amortized cost
Accounts receivable		46,015		26,117
Project advances		1,772		7,220
Other assets (excluding advances to suppliers and prepaid expenses)		1,296		953

Financial assets at fair value through profit or loss
Cash and bank accounts		14,052		4,120
Short term investments		9,929		33,030
Long term investments		1,986		3,669

Financial liabilities
Financial liabilities at amortized cost
Lease liabilities		1,582		3,097
Placement Agent		1,250
Other liabilities (excluding advances from customers)		3,252		666

Financial liabilities at fair value through profit or loss
Investment fund share held by non-controlling		1,515		3,158

Credit Risk [Member]

Disclosure of detailed information about financial instruments [line items]

Summary of amounts receivable and project advances

The amounts receivable and project advances as of December 31, 2020 are expected to be received as demonstrated below:


	Overdue Less than 90 days		01 to 90 days		91 to 180 days		181 to 270 days		Due in 271 to 360 days		Over 360 days		Total
Accounts Receivable (a)		2,198		10,828		—		—		10,996		21,993		46,015
Project Advances		—		1,277		—		—		—		495		1,772

Total		2,198		12,105		—		—		10,996		22,488		47,787

(a)

Non current balances are related to management fees receivable from fund Private Equity IV in annual equal installments in December 31, 2022 and 2023.

Liquidity Risk [Member]

Disclosure of detailed information about financial instruments [line items]

Summary of expected future payments for liabilities

Expected future payments for liabilities as at December 31, 2020 are shown below.


	Expected liabilities to be paid in
	01 to 60 days		61 to 120 days		121 to 180 days		181 to 360 days		Over 360 days		Total
Personnel and related taxes (excluding officers’ fund and accrued vacation and related charges)		10,611		—		—		—		—		10,611
Dividends payable		23,259		—		—		—		—		23,259
Suppliers		3,039		—		—		—		—		3,039
Placement agents’ fees		450		400		—		400		—		1,250
Investment funds participating shares		—		—		—		—		1,515		1,515
Lease payments (a)		252		252		266		746		1,859		3,375
Other liabilities (excluding advances from customers)		156		—		—		—		57		213

Total		37,767		652		266		1,146		3,431		43,262

(a)

Amounts reflect future cash outflow to settle liabilities, which include interest.

Market Risk [Member]

Disclosure of detailed information about financial instruments [line items]

Summary of sensitivity analysis was based on the material assets and liabilities exposed to currencies fluctuation

The sensitivity analysis was based on the material assets and liabilities exposed to currencies fluctuation against US$, as demonstrated below:


As of December 31, 2020
	Balance in each exposure currency												Balance Total in USD		Exchange Variation impact considering 10% change in the ending of period rates.
	BRL(a)		HKD (b)		CLP (c)		COP (d)		GBP (e)		USD		Balance Total in USD
Cash and cash equivalents		626		6,755		49,702		27,512		44		12,922		14,052		113
Short term investments		4,782		—		—		—		—		9,009		9,929		92
Accounts receivable		45,327		6		38,527		132,631		14		37,180		46,015		884
Projects Advance		1,995		44		—		3,972		7		1,371		1,772		39
Other assets		5,979		9		10,525		177,044		64		2,938		4,243		131
Personnel and related taxes		41,308		2,308		121,634		1,409,774		509		4,806		14,329		(952	)
Taxes payable		4,906		122		10,791		159,553		36		—		1,070		(107	)
Other liabilities		12,436		480		12,644		10,042		174		6,573		9,287		(271	)

Net impact																(71	)

BRL - Brazilian Real

HKD - Hong Kong dollar

CLP - Chilean Peso

COP - Colombian Peso

GBP - Pound Sterling

Related Parties (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Disclosure of amounts incurred by entity for provision of key management personnel services

The amounts paid to directors and officers for their roles as executives in 2020, 2019 and 2018 included in “Personnel expenses” are shown below:


	2020			2019			2018
Directors and officers’ compensation		(2,582	)		(2,738	)		(2,720	)


	2020		2019
Other Assets		47		47
Personnel current liabilities		1,271		1,043
Personnel non current liabilities		1,527		1,530

General information - Additional Information (Detail)	12 Months Ended
General information - Additional Information (Detail)	Dec. 31, 2020
Text Block [Abstract]
Percentage of ownership attributable to the parent entity	60.00%

Significant accounting policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020
Statements [Line Items]
Social contribution tax rate	9.00%
Top of range
Statements [Line Items]
Applicable tax rate	30.00%
Bottom of range [member]
Statements [Line Items]
Applicable tax rate	25.00%
Placement agent fees
Statements [Line Items]
Estimated useful life in intangible assets	10 years
Computer software
Statements [Line Items]
Estimated useful life in intangible assets	5 years
Contractual Rights \| P Two Brasil Private Infrastructure General Partner II Ltd
Statements [Line Items]
Estimated useful life in intangible assets	8 years
Contractual Rights \| P Two Brasil Holding Ltd
Statements [Line Items]
Estimated useful life in intangible assets	12 years

Significant accounting policies - Summary of Estimated Useful Lives of Property Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2020
Facilities
Statements [Line Items]
Estimated useful lives in Property and equipment	10 years
Machinery and equipment
Statements [Line Items]
Estimated useful lives in Property and equipment	10 years
Furniture and fixtures
Statements [Line Items]
Estimated useful lives in Property and equipment	10 years
Building improvements
Statements [Line Items]
Estimated useful lives in Property and equipment	10 years
Electronic equipment
Statements [Line Items]
Estimated useful lives in Property and equipment	5 years
IT equipment
Statements [Line Items]
Estimated useful lives in Property and equipment	5 years
Telephone equipment
Statements [Line Items]
Estimated useful lives in Property and equipment	5 years

Consolidation and subsidiaries - Schedule of Significant Subsidiaries (Detail)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Disclosure of subsidiaries [line items]

Functional Currency

USD

Patria Finance Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[1]

USD

Equity interest (direct or indirect)

^[1]

100.00%

Patria Brazilian Private Equity III, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[2]

USD

Equity interest (direct or indirect)

^[2]

100.00%

Patria Brazilian Private Equity General Partner IV, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[3]

USD

Equity interest (direct or indirect)

^[3]

100.00%

PBPE General Partner V, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[4]

USD

Equity interest (direct or indirect)

^[4]

100.00%

Patria Brazilian Private Equity General Partner VI, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[5]

USD

Equity interest (direct or indirect)

^[5]

100.00%

Patria Brazil Real Estate Fund General Partner II, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[6]

USD

Equity interest (direct or indirect)

^[6]

100.00%

Patria Brazil Real Estate Fund General Partner III Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[7]

USD

Equity interest (direct or indirect)

^[7]

100.00%

Patria Brazil Retail Property Fund General Partner, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[8]

USD

Equity interest (direct or indirect)

^[8]

100.00%

Patria Investments UK Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[9]

GBP

Equity interest (direct or indirect)

^[9]

100.00%

Patria Investments US LLC

Disclosure of subsidiaries [line items]

Functional Currency

^[10]

USD

Equity interest (direct or indirect)

^[10]

100.00%

Patria Investments Colombia S.A.S.

Disclosure of subsidiaries [line items]

Functional Currency

^[11]

COP

Equity interest (direct or indirect)

^[11]

100.00%

Patria Infrastructure General Partner II Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[12]

USD

Equity interest (direct or indirect)

^[12]

100.00%

Patria Infrastructure General Partner III Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[13]

USD

Equity interest (direct or indirect)

^[13]

100.00%

Patria Infrastructure General Partner IV Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[14]

USD

Equity interest (direct or indirect)

^[14]

100.00%

Pátria Investimentos Ltda.

Disclosure of subsidiaries [line items]

Functional Currency

^[15]

BRL

Equity interest (direct or indirect)

^[15]

51.00%

Pátria Companhia Securitizadora de Créditos Imobiliários

Disclosure of subsidiaries [line items]

Functional Currency

^[16]

BRL

Equity interest (direct or indirect)

^[16]

51.00%

Zedra S.A.

Disclosure of subsidiaries [line items]

Functional Currency

^[17]

UYU

Equity interest (direct or indirect)

^[17]

100.00%

0.00%

Improdem S.A.

Disclosure of subsidiaries [line items]

Functional Currency

^[18]

UYU

Equity interest (direct or indirect)

^[18]

100.00%

0.00%

Patria Investments Cayman Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[19]

USD

Equity interest (direct or indirect)

^[19]

100.00%

0.00%

Patria Investments Chile SpA

Disclosure of subsidiaries [line items]

Functional Currency

^[20]

CLP

Equity interest (direct or indirect)

^[20]

100.00%

Patria Investments Hong Kong, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[21]

HKD

Equity interest (direct or indirect)

^[21]

100.00%

Patria Farmland General Partner, Ltd.

Disclosure of subsidiaries [line items]

Functional Currency

^[22]

USD

Equity interest (direct or indirect)

^[22]

100.00%

[1]	Patria Finance Ltd.: headquartered in the Cayman Islands, Patria Finance Ltd. is responsible for the management of funds and providing financial advisory services to clients around the world. It also provides the accounting and finance support to the Group.
[2]	Patria Brazilian Private Equity III, Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[3]	Patria Brazilian Private Equity General Partner IV, Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[4]	PBPE General Partner V, Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[5]	Patria Brazilian Private Equity General Partner VI, Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[6]	Patria Brazil Real Estate Fund General Partner II Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[7]	Patria Brazil Real Estate Fund General Partner III Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[8]	Patria Brazil Retail Property Fund General Partner, Ltd.: headquartered in the Cayman Islands, and serves as manager of offshore funds.
[9]	Patria Investments UK Ltd.: headquartered in London (UK), and is engaged in the development of investor relations.
[10]	Patria Investments US LLC: a subsidiary of Patria Investments UK Ltd., headquartered in Delaware (USA) and is engaged in the development of investor relations and marketing services, as well as certain back office services.
[11]	Patria Investments Colombia S.A.S.: headquartered in Bogotá (Colombia) and is engaged in advisory services related to asset management of investment funds and investments in private equity and infrastructure areas, as well as in investor relations and marketing services.
[12]	Patria Infrastructure General Partner II, Ltd.: headquartered in the Cayman Islands and serves as manager of offshore funds. Patria Infrastructure General Partner II, Ltd. was the major owner of Pátria Infraestrutura Gestão de Recursos Ltda. (“PINFRA”) until September 28, 2020 when transferred the totality of its shares to Pátria Investimentos Ltda.
[13]	Patria Infrastructure General Partner III, Ltd.: headquartered in the Cayman Islands and serves as manager of offshore funds, as well as providing financial advisory services. After a corporate restructuring completed in 2016, this entity became the successor entity to the P2 Group, a fund manager that was acquired in 2015.
[14]	Patria Infrastructure General Partner IV, Ltd.: headquartered in the Cayman Islands and serves as manager of offshore funds.
[15]	Pátria Investimentos Ltda. (“PILTDA”): headquartered in Brazil and engaged in asset management, fund administration, consulting and planning services related to asset management as well as the organization and performance of transactions in the commercial and corporate sectors. On September 28, 2020, PILTDA became the owner of Pátria Infraestrutura Gestão de Recursos Ltda (“PINFRA”) after receiving shares from Patria Infrastructure General Partner II, Ltd.. On September 30, 2020, PINFRA was merged into PILTDA with the purpose of simplifying the structure and consolidating the investments of the Group, meanwhile optimizing costs, and providing operational synergies.
[16]	Pátria Companhia Securitizadora de Créditos Imobiliários: a subsidiary of Pátria Investmentos Ltda, headquartered in Brazil and engaged in the issuance and placement of Real Estate Receivables Certificates backed by real estate receivables and the trading and services related to the securitization of these receivables.
[17]	Zedra S.A.: acquired in September 2020* and headquartered in Uruguay, holding company which will provide financial advisory services to the Group.
[18]	Patria Investments Uruguay S.A.: acquired by Zedra S.A. in September 2020* and changed its name from Improdem S.A. to Patria Investments Uruguay S.A. in November 2020. It is a company headquartered in Uruguay that will provide advisory services related to asset management of investment funds, as well as investor relations and marketing services.
[19]	Patria Investments Cayman Ltd.: created in October 19, 2020, headquartered in the Cayman Islands and serves as holding company for the Group investing activities.
[20]	Patria Investments Chile SpA.: headquartered in Chile and engaged in advisory services related to asset management of investment funds and investments in infrastructure, as well as investor relations and marketing services.
[21]	Patria Investments Hong Kong, Ltd.: a subsidiary of Patria Investments UK Ltd., headquartered in Hong Kong and engaged in the development of investor relations and marketing services.
[22]	Patria Farmland General Partner, Ltd.: a subsidiary of Patria Finance Ltd, headquartered in Cayman Islands and serves as manager of offshore funds.

Cash and cash equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Bank accounts	$ 14,052	$ 4,120	$ 2,346	$ 3,324

Accounts receivable - Summary of Accounts Receivables (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other receivables [abstract]
Current	$ 24,022	$ 11,007
Non-current	21,993	15,110
Accounts receivable	$ 46,015	$ 26,117

Project advances - Summary of Project Advances Receivable Explanatory (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Project Advances Receivable [Abstract]
Current	$ 1,277	$ 6,431
Non-current	495	789
Project advances	$ 1,772	$ 7,220

Other assets - Summary of Other Assets Current And Non Current (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Miscellaneous assets [abstract]
Advances to suppliers	$ 1,583	$ 107
Advances to employees	283	354
Prepaid expenses	966	858
Officer's fund	47	47
IPO costs	624
Other current assets	200	419
Other current assets	3,703	1,785
Prepaid expenses	398	407
Deposit/guarantee on lease agreement	142	133
Other non-current assets	$ 540	$ 540

Other assets - Summary of Other Assets Current And Non Current (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Miscellaneous assets [abstract]
Officers fund incurred and reimbursable costs	$ 47	$ 47

Investments - Summary of Short Term Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments [Abstract]
Loan		$ 13,031
Securities	$ 9,929	19,999
Short-term investments	$ 9,929	$ 33,030

Investments - Summary of Short Term Investments (Parenthetical) (Detail) - Short Term Loans Receivable [Member] - Patria Brazilian Private Equity Fund Three L P [Member] $ in Thousands	Dec. 18, 2019 USD ($)
Short Term Investments [Line Items]
Payment towards short term bridge loans	$ 13,031
Loans receivable rate of interest	4.15%

Investments - Summary of Long Term Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	$ 1,986	$ 3,669
Patria Brazil Real Estate Fund II, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	1,146	2,712
Patria Brazilian Private Equity Fund III, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	369	446
Patria Brazilian Private Equity Fund IV, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	102	129
Patria Brazilian Private Equity Fund V, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	89	100
Patria Brazil Real Estate Fund III, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	32	54
Patria Private Equity Fund VI, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	130	35
Patria Infrastructure Fund II, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	44	83
Patria Infrastructure Fund III, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	61	91
Patria Infrastructure Fund IV, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	1
Patria lnfrastructure II LAP Co-lnvest UK, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	3	4
Patria Alphaville Co-Invest, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	4	6
Patria Farmland Fund I, L.P. [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	1	2
Other investments [Member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Long term investments	$ 4	$ 7

Investments - Additional Information (Detail)	Dec. 31, 2020
Top of range [member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Percentage of ownership interest on long-term investments	3.28%
Bottom of range [member]
Disclosure Of Investments Other Than Investments Accounted For Under Equity Method [Line Items]
Percentage of ownership interest on long-term investments	0.00004%

Property and equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	$ 6,464	$ 3,366	$ 3,986
Additions	(1,380)	(1,972)	32
Disposals		(2)	(129)
CTA	(1,265)	(60)	(523)
Closing balance	3,819	6,464	3,366
Adoption of IFRS 16 [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		5,132
Closing balance			5,132
Restatement [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		8,498
Closing balance			8,498
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	12,285	7,229	7,465
Additions	300	148	1,010
Disposals		(2)	(168)
CTA	(2,430)	(222)	(1,078)
Closing balance	10,155	12,285	7,229
Gross carrying amount [member] \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	883	900	831
Additions	15	15	216
Disposals		(2)	(15)
Transfer		2
CTA	(172)	(32)	(132)
Closing balance	726	883	900
Gross carrying amount [member] \| Building Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	3,617	3,771	3,867
Additions	34	34	551
Disposals			(143)
CTA	(654)	(188)	(504)
Closing balance	2,997	3,617	3,771
Gross carrying amount [member] \| Electronic Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	222	221	241
Additions	11	8	20
Disposals			(4)
CTA	(49)	(7)	(36)
Closing balance	184	222	221
Gross carrying amount [member] \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	2,043	1,973	2,128
Additions	97	91	198
Disposals			(6)
Transfer		(2)
CTA	(356)	(19)	(347)
Closing balance	1,784	2,043	1,973
Gross carrying amount [member] \| Communication and network equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	352	364	398
Additions	6		25
CTA	(77)	(12)	(59)
Closing balance	281	352	364
Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	5,168
Additions	137
CTA	(1,122)	36
Closing balance	4,183	5,168
Gross carrying amount [member] \| Adoption of IFRS 16 [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		5,132
Closing balance			5,132
Gross carrying amount [member] \| Adoption of IFRS 16 [Member] \| Right-of-use assets [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		5,132
Closing balance			5,132
Gross carrying amount [member] \| Restatement [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		12,361
Closing balance			12,361
Gross carrying amount [member] \| Restatement [Member] \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		900
Closing balance			900
Gross carrying amount [member] \| Restatement [Member] \| Building Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		3,771
Closing balance			3,771
Gross carrying amount [member] \| Restatement [Member] \| Electronic Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		221
Closing balance			221
Gross carrying amount [member] \| Restatement [Member] \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		1,973
Closing balance			1,973
Gross carrying amount [member] \| Restatement [Member] \| Communication and network equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		364
Closing balance			364
Gross carrying amount [member] \| Restatement [Member] \| Right-of-use assets [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		5,132
Closing balance			5,132
Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(5,821)	(3,863)	(3,479)
Additions	1,680	(2,120)	(978)
Disposals			39
CTA	1,165	162	555
Closing balance	(6,336)	(5,821)	(3,863)
Accumulated depreciation [member] \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(451)	(376)	(346)
Additions	(71)	(93)	(88)
Disposals			3
CTA	100	18	55
Closing balance	(422)	(451)	(376)
Accumulated depreciation [member] \| Building Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(2,045)	(1,630)	(1,450)
Additions	(391)	(477)	(437)
Disposals			31
CTA	366	62	226
Closing balance	(2,070)	(2,045)	(1,630)
Accumulated depreciation [member] \| Electronic Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(176)	(167)	(151)
Additions	(13)	(15)	(41)
Disposals			2
CTA	40	6	23
Closing balance	(149)	(176)	(167)
Accumulated depreciation [member] \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(1,558)	(1,351)	(1,203)
Additions	(175)	(257)	(347)
Disposals			3
CTA	288	50	196
Closing balance	(1,445)	(1,558)	(1,351)
Accumulated depreciation [member] \| Communication and network equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(335)	(339)	(329)
Additions	(4)	(5)	(65)
CTA	77	9	55
Closing balance	(262)	(335)	(339)
Accumulated depreciation [member] \| Right-of-use assets [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(1,256)
Additions	(1,026)	(1,273)
CTA	294	17
Closing balance	$ (1,988)	(1,256)
Accumulated depreciation [member] \| Restatement [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		(3,863)
Closing balance			(3,863)
Accumulated depreciation [member] \| Restatement [Member] \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		(376)
Closing balance			(376)
Accumulated depreciation [member] \| Restatement [Member] \| Building Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		(1,630)
Closing balance			(1,630)
Accumulated depreciation [member] \| Restatement [Member] \| Electronic Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		(167)
Closing balance			(167)
Accumulated depreciation [member] \| Restatement [Member] \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		(1,351)
Closing balance			(1,351)
Accumulated depreciation [member] \| Restatement [Member] \| Communication and network equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance		$ (339)
Closing balance			$ (339)

Property and equipment - Summary of Property and Equipment (Parenthetical) (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation on property plant and equipment		$ 654	$ 847	$ 978
Depreciation right of use assets		1,026	1,273	0
Office Space In Sao Paulo London And Cayman [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation right of use assets		1,026	1,273
Office Space In Sao Paulo London And Cayman [Member] \| At cost or in accordance with IFRS 16 within fair value model [member]
Disclosure of detailed information about property, plant and equipment [line items]
Additions to right-of-use assets	$ 5,132
Administration Expenses [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation on property plant and equipment		$ 1,680	$ 2,120	$ 978

Intangible assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Text Block [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	$ 25,457	$ 31,554	$ 37,517
Additions	(3,510)	(6,087)	(5,797)
Disposals		(74)	(3)
CTA	410	64	(163)
Ending Balance	22,357	25,457	31,554
Gross carrying amount [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	80,327	80,437	80,416
Additions	2,497	69	420
Disposals		(74)	(3)
CTA	(459)	(105)	(396)
Ending Balance	82,365	80,327	80,437
Gross carrying amount [member] \| Placement Agents [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	35,284	35,350	35,335
Additions	2,000	3	276
CTA	(388)	(69)	(261)
Ending Balance	36,896	35,284	35,350
Gross carrying amount [member] \| Contractual Rights [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	44,156	44,156	44,156
Ending Balance	44,156	44,156	44,156
Gross carrying amount [member] \| Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	743	851	925
Additions	497	2	64
Disposals		(74)	(3)
Transfer	38
CTA	(63)	(36)	(135)
Ending Balance	1,215	743	851
Gross carrying amount [member] \| Software Implementation Costs [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	144	80
Additions		64	80
Transfer	(38)
CTA	(8)
Ending Balance	98	144	80
Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	(54,870)	(48,883)	(42,899)
Additions	(6,007)	(6,156)	(6,217)
CTA	869	169	233
Ending Balance	(60,008)	(54,870)	(48,883)
Accumulated depreciation, amortisation and impairment [member] \| Placement Agents [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	(27,387)	(25,153)	(22,985)
Additions	(2,300)	(2,297)	(2,293)
CTA	772	63	125
Ending Balance	(28,915)	(27,387)	(25,153)
Accumulated depreciation, amortisation and impairment [member] \| Contractual Rights [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	(26,805)	(23,042)	(19,279)
Additions	(3,623)	(3,763)	(3,763)
Ending Balance	(30,428)	(26,805)	(23,042)
Accumulated depreciation, amortisation and impairment [member] \| Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	(678)	(688)	(635)
Additions	(84)	(96)	(161)
CTA	97	106	108
Ending Balance	$ (665)	$ (678)	$ (688)

Intangible assets - Summary of Remaining Balance Expected To Be Amortized (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	$ 7,981
2021 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	2,154
2022 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	1,412
2023 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	1,213
2024 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	1,109
2025 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	991
2026 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	198
2027 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	198
2028 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	181
2029 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	175
2030 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	175
2031 [Member]
Disclosure Of Remaining Balance Expected To Be Amortized [Line Items]
Placement agent fees	$ 175

Intangible assets - Summary of Breakdown of The Total Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Breakdown Of The Total Intangible Assets [Line Items]
Intangible assets	$ 22,357	$ 25,457	$ 31,554	$ 37,517
Brazil [Member]
Disclosure Of Breakdown Of The Total Intangible Assets [Line Items]
Intangible assets	815	886
Cayman Islands [Member]
Disclosure Of Breakdown Of The Total Intangible Assets [Line Items]
Intangible assets	$ 21,542	$ 24,571

Personnel and related taxes - Summary of Personnel and Related Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Personnel and related taxes [Abstract]
Personnel and taxes	$ 222	$ 246
Withholding income tax on payroll	150	219
Accrued vacation and related charges	920	1,124
Employee profit sharing	10,239	11,450
Officers' fund	1,271	1,043
Personnel and related taxes current	12,802	14,082
Officers' fund	1,527	1,530
Personnel non-current liabilities	$ 1,527	$ 1,530

Personnel and related taxes - Summary of Personnel and Related Taxes (Parenthetical) (Detail) - USD ($) $ in Thousands	2 Months Ended
	Feb. 28, 2021	Mar. 31, 2020
Disclosure of Personnel and related taxes [Abstract]
Payment of Employee profit sharing	$ 10,239	$ 11,450

Taxes payable - Summary of Taxes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of tax payables [Abstract]
Taxes on revenues	$ 902	$ 885
Income taxes	119	1,326
Other taxes payable	49	30
Taxes payable	$ 1,070	$ 2,241

Other liabilities - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Accrued Expenses And Other Liabilities [Abstract]
Placement agent fees	$ 1,250	$ 0
Suppliers	3,039	492
Advances from customers	1,688	932
Occupancy costs	146	6
Lease liabilities	780	1,209
Other current liabilities	10	79
Other current liabilities	6,913	2,718
Investment fund participating share in Patria Brazilian Private Equity General Partner III, Ltd. and Patria Brazil Real Estate Fund II, L.P.	1,515	3,158
Lease liabilities	802	1,888
Other non-current liabilities	57	89
Other non-current liabilities	$ 2,374	$ 5,135

Other liabilities - Schedule of Other Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Accrued Expenses And Other Liabilities [Abstract]
Interest expense on lease liabilities	$ 869	$ 918	$ 0
Payments of lease liabilities, classified as financing activities	$ 893	$ 987

Deferred taxes - Summary of Deferred Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Deferred tax assets on the provision for employee profit sharing	$ 1,945	$ 3,220
Deferred tax assets on management fee provision	391	1,442
Deferred tax assets on deductible goodwill		1,260
Others	2	82
Deferred tax assets	2,338	6,004
Deferred tax liabilities on initial application of IFRS 16	185	365
Others		37
Deferred tax liabilities	$ 185	$ 402

Deferred taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	$ 6,004,000
Beginning Balance	402,000
Ending Balance	2,338,000	$ 6,004,000
Ending Balance	185,000	402,000
Employee Profit Sharing [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	3,220,000	2,572,000	$ 3,042,000
(Charged)/credited to profit or loss	(560,000)	648,000	(470,000)
directly to equity / CTA	(715,000)
Ending Balance	1,945,000	3,220,000	2,572,000
Management Fee Provision [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	1,442,000	954,000	673,000
(Charged)/credited to profit or loss	(724,000)	488,000	281,000
directly to equity / CTA	(327,000)
Ending Balance	391,000	1,442,000	954,000
Taxable Goodwill [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	1,260,000	2,403,000	4,094,000
(Charged)/credited to profit or loss	(984,000)	(1,143,000)	(1,691)
directly to equity / CTA	(276,000)
Ending Balance		1,260,000	2,403,000
Impact of IFRS 16 [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	48,000
(Charged)/credited to profit or loss	(37,000)	48,000
directly to equity / CTA	(11,000)
Ending Balance		48,000
Other [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	34,000
(Charged)/credited to profit or loss	(37,000)	34,000
directly to equity / CTA	5,000
Ending Balance	2,000	34,000
Deferred Tax Assets [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	6,004,000	5,929,000	7,809,000
(Charged)/credited to profit or loss	(2,342,000)	75,000	(1,880)
directly to equity / CTA	(1,324,000)
Ending Balance	2,338,000	6,004,000	5,929,000
Initial application of IFRS 16 [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	365,000
(Charged)/credited to profit or loss	(98,000)	6,000
directly to equity / CTA	(82,000)	359,000
Ending Balance	185,000	365,000
Other [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	37,000	65,000	53,000
(Charged)/credited to profit or loss	1,000	(28,000)	12,000
directly to equity / CTA	(38,000)
Ending Balance	0	37,000	65,000
Deferred Tax Liabilities [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning Balance	402,000	65,000	53,000
(Charged)/credited to profit or loss	(97,000)	(22,000)	12,000
directly to equity / CTA	(120,000)	359,000
Ending Balance	$ 185,000	$ 402,000	$ 65,000

Provisions and contingent liabilities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Social Contributions On Gross Revenue [Member] \| Patria Investimentos Ltda [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	$ 4,956	$ 0
Labor Taxes [Member] \| Patria Investimentos Ltda [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	1,923	0
Employment Lawsuits [Member] \| Patria Investimentos Ltda [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	714	645
Potential Loss	36	41
Civil Litigations [Member] \| Patria Investimentos Ltda [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	721	0
Over services municipal tax [Member] \| Patria Investimentos Ltda [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	1,926	555
Over services municipal tax [Member] \| Patria Infrastructure General Partner II Ltd [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	681	246
Ongoing administrative process related to over services municipal tax [Member] \| Patria Infrastructure General Partner II Ltd [Member]
Disclosure of contingent liabilities [line items]
Contingent liabilities	$ 1,124	$ 326

Leases - Summary of Amounts Recognized In The Statement of Financial Position (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Amounts Recognized In The Statement Of Financial Position [Abstract]
Right-of-use assets	$ 4,183	$ 5,132
(-) Depreciation of right-of-use assets	(1,988)	(1,273)
Right-of-use assets	2,195	3,859
Lease liabilities (current)	780	1,209
Lease liabilities (non-current)	802	1,888
Lease liabilities	$ 1,582	$ 3,097

Leases - Summary of Amounts Recognized In The Statement of Profit Or Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Amounts Recognized In The Statement Of Profit Or Loss [Abstract]
Depreciation right of use assets	$ (1,026)	$ (1,273)	$ 0
Interest expense on lease liabilities	$ (869)	$ (918)	$ 0

Revenue from services - Summary of Revenue From Services (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Revenue From Services [Line Items]
Total gross revenue from services	$ 118,811	$ 128,795	$ 109,134
Tax expense other than income tax expense	(3,794)	(5,580)	(3,464)
Revenue from contracts with customers	115,017	123,215	105,670
Brazil [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from contracts with customers	28,452	35,886	19,669
Cayman Islands [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from contracts with customers	86,565	87,329	86,001
Management Fees [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from rendering of services	112,870	104,872	104,145
Tax expense other than income tax expense	(3,051)	(2,859)	(2,754)
Incentive Fees [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from rendering of services	3,450	18,079
Tax expense other than income tax expense	(388)	(2,040)
Performance Fees [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from rendering of services		4,866	12
Tax expense other than income tax expense		(542)	(1)
M & A and Monitoring Fees [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from rendering of services	2,491	978	4,977
Tax expense other than income tax expense	(355)	(139)	(709)
Fund Fees [Member]
Disclosure Of Revenue From Services [Line Items]
Revenue from rendering of services	$ 116,320	$ 127,817	$ 104,157

Revenue from services - Summary of Revenue From Services (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Revenue From Services [Abstract]
Percentage of individual client's revenue	10.00%

Cost of services rendered - Summary of Cost of Services Rendered (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Cost Of Services Rendered [Abstract]
Salaries and wages	$ (7,896)	$ (10,165)	$ (10,413)
Directors and officers' compensation (note 27)	(2,582)	(2,738)	(2,720)
Officers' fund	(431)	1,037	(546)
Rewards and bonuses	(11,800)	(17,785)	(14,264)
Social security contributions and payroll taxes	(2,356)	(4,684)	(4,507)
Other short-term benefits	(2,164)	(2,563)	(2,717)
Personnel expenses	(27,229)	(36,898)	(35,167)
Amortization of placement agents' fees (note 12)	(2,300)	(2,270)	(2,293)
Rebate fees	(30)	(27)	0
Amortization of placement agents and rebate fees	(2,330)	(2,297)	(2,293)
Amortization of contractual rights (note 12)	(3,623)	(3,763)	(3,763)
Cost of services rendered	$ (33,182)	$ (42,958)	$ (41,223)

Administrative expenses - Summary of Administrative Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Administrative Expenses [Abstract]
Professional services	$ (7,351)	$ (5,852)	$ (6,774)
Occupancy expenses (a)	(977)	(1,339)	(3,745)
Travel expenses	(1,586)	(2,760)	(3,089)
IT and telecom services	(1,085)	(1,262)	(1,415)
Materials and supplies	(153)	(227)	(189)
Taxes and contributions	(189)	(358)	(143)
Marketing	(386)	(507)	(381)
Depreciation of property and equipment	(654)	(847)	(978)
Depreciation right of use assets	(1,026)	(1,273)	0
Software amortization	(84)	(96)	(161)
Other administrative expenses	(1,136)	(1,181)	(1,034)
Administrative expenses	$ (14,627)	$ (15,702)	$ (17,909)

Administrative expenses - Summary of Administrative Expenses (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Administrative Expenses [Abstract]
Depreciation, right-of-use assets	$ 1,026	$ 1,273	$ 0

Other income/(expenses) - Summary of Other Income/(Expenses) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Other Income Expenses [Abstract]
Net loss on sale/disposal of property and equipment		$ (1)	$ (120)
IPO expenses and IPO related bonuses	$ (2,169)
Other	129	67	78
Other income/(expenses)	$ (2,040)	$ 66	$ (42)

Other income/(expenses) - Summary of Other Income/(Expenses) (Parenthetical) (Detail) - IPO [Member] $ in Thousands	Jan. 21, 2021 USD ($)
Schedule Of Other Income Expenses [Line Items]
Cost allocated to secondary offering, other expenses	$ 504
Cost allocated to secondary offering bonus	$ 1,665

Net financial income/(expense) - Summary of Net Financial Income/(Expense) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Net Finance Income Expenses [Abstract]
Net financial investment income	$ 366	$ 890	$ 902
Valuation adjustment on long-term investments	(91)	46	(34)
Interest on recoverable taxes	4	10	21
Net exchange variation	501	10	(605)
Interest expenses	(56)	(95)	(206)
Banking fees	(103)	(151)	(136)
Interest on receivables	0	46	5
Interest on lease liabilities	(869)	(918)	0
Other financial income/(expenses)	56	(8)	13
Net financial income/(expense)	$ (192)	$ (170)	$ (40)

Income taxes expenses - Summary of Reconciliation of Average Effective Tax Rate and Applicable Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of average effective tax rate and applicable tax rate [abstract]
Income before income tax	$ 64,976	$ 64,451	$ 46,456
Impact of difference in tax rates of foreign subsidiaries	(2,749)	(3,195)	(1,564)
Nondeductible expenses	(386)	(318)	(428)
Total income taxes	(3,136)	(3,513)	(1,992)
Current	(891)	(3,783)	(1,210)
Deferred	$ (2,245)	$ 270	$ (782)
Effective tax rate	4.80%	5.50%	4.30%

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Equity - Summary of Share Capital (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Issued Share Capital [Line Items]
Number of shares issued	117,000,000	117,000,000
Shareholder capital	$ 1,000	$ 1,000
Blackstone Pat Holdings IV LLC [Member]
Disclosure Of Issued Share Capital [Line Items]
Number of shares issued	46,800,000	46,800,000
Shareholder capital	$ 400	$ 400
Patria Holdings Ltd [Member]
Disclosure Of Issued Share Capital [Line Items]
Number of shares issued	70,200,000	70,200,000
Shareholder capital	$ 600	$ 600

Equity - Summary of Additional Paid In Capital (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Additional Paid In Capital [Line Items]
Share premium	$ 1,557	$ 1,557
Blackstone Pat Holdings IV LLC [Member]
Disclosure Of Additional Paid In Capital [Line Items]
Share premium	623	623
Patria Holdings Ltd [Member]
Disclosure Of Additional Paid In Capital [Line Items]
Share premium	$ 934	$ 934

Equity - Summary of Additional Paid In Capital Parenthetical (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Additional Paid In Capital [Abstract]
Share premium	$ 1,557	$ 1,557

Equity - Summary of Dividends Paid by the Group (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Dividends [Line Items]
Dividends paid, ordinary shares	$ 84,188	$ 46,397	$ 37,018
Dividends paid, ordinary shares per share	$ 0.0012	$ 0.0004	$ 0.0003
Patria Holdings Ltd [Member]
Disclosure Of Dividends [Line Items]
Dividends paid, ordinary shares	$ 59,358	$ 34,693	$ 28,547
Dividends paid, ordinary shares per share	$ 0.0009	$ 0.0005	$ 0.0004
Blackstone Pat Holdings IV LLC [Member]
Disclosure Of Dividends [Line Items]
Dividends paid, ordinary shares	$ 24,830	$ 11,704	$ 8,471
Dividends paid, ordinary shares per share	$ 0.0004	$ 0.0003	$ 0.0002

Equity - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings per share [abstract]
Net income for the year attributable to the Group´s owners	$ 62,209	$ 58,539	$ 43,669
Weighted average number of shares	117,000,000	117,000,000	117,000,000
Basic and diluted earnings per share	$ 0.0005	$ 0.0005	$ 0.0004

Equity - Summary of the Subsidiary with Non Controlling Interests (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Noncontrolling Interests [Line Items]
Equity	$ 59,073	$ 88,747	$ 78,336	$ 75,123
Net income	$ 61,840	$ 60,938	$ 44,464
Patria Investimentos Ltda [Member] \| Ordinary Shares [Member]
Disclosure Of Noncontrolling Interests [Line Items]
Interest	49.00%	49.00%
Equity	$ 1,758	$ 7,590
Net income	$ (369)	$ 2,399

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Equity - Summary of Financial Statement (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of financial position [abstract]
Current assets	$ 53,675	$ 56,822
Current liabilities	44,044	19,041
Non-current assets	53,528	58,033
Non-current liabilities	4,086	7,067
Summarized statement of comprehensive income
Net income for the year	61,840	60,938	$ 44,464
Total comprehensive income	58,066	57,297	40,508
Summarized cash flows
Cash flows from operating activities	52,695	44,467	39,518
Cash flows from investing activities	23,511	11,254	7,806
Cash flows from financing activities	(66,239)	(53,772)	(48,009)
Effects of exchange rate changes on cash and cash equivalents	(35)	(175)	(293)
Increase/(decrease) in cash and cash equivalents	9,932	1,774	(978)
Patria Investimentos Ltd [Member]
Statement of financial position [abstract]
Current assets	12,709	17,617
Current liabilities	10,530	11,429
Current net assets	2,179	6,188
Non-current assets	6,748	35,344
Non-current liabilities	942	8,348
Non-current net assets	5,806	26,996
Net assets	7,985	33,184
Summarized statement of comprehensive income
Revenue	29,857	41,231	34,062
Net income for the year	1,962	4,896	1,623
Total comprehensive income	1,962	4,896	1,623
Dividends paid to NCI	(3,552)	(1,003)	(1,814)
Summarized cash flows
Cash flows from operating activities	7,188	4,314	5,053
Cash flows from investing activities	1,652	(238)	(746)
Cash flows from financing activities	(8,833)	(2,521)	(1,814)
Effects of exchange rate changes on cash and cash equivalents	(33)	(141)	(216)
Increase/(decrease) in cash and cash equivalents	$ (26)	$ 1,414	$ 2,277

Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Jan. 13, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jan. 01, 2019 USD ($)
Statements [Line Items]
Dividends paid, ordinary shares			$ 84,188	$ 46,397	$ 37,018
Dividend payables			48,259
Non-controlling interests			1,758	7,590
Retained earnings			62,001	85,483		$ 714
Patria Investimentos Ltda [Member]
Statements [Line Items]
Non-controlling interests			3,552	$ 489	$ 991
Ordinary Shares [Member]
Statements [Line Items]
Dividends paid, ordinary shares		$ 35,929	25,000
Non Adjusting Events Reporting Period [Member]
Statements [Line Items]
Stockholders' equity note, stock split, conversion ratio	1.17
Dividends paid, ordinary shares			$ 23,259
Non Adjusting Events Reporting Period [Member] \| Ordinary Shares [Member]
Statements [Line Items]
Stock issued during period, shares, new issues \| shares	1,000,000		117,000,000
Par value per share \| $ / shares	$ 0.001
Stock issued during period value new issues	$ 1

Financial Instruments - Summary of the Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lease liabilities [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortized cost	$ 1,582	$ 3,097
Placement Agent [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortized cost	1,250
Other liabilities (excluding advances from customers) [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortized cost	3,252	666
Investment fund share held by non-controlling [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at fair value through profit or loss	1,515	3,158
Accounts receivable [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at amortized cost	46,015	26,117
Project advances [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at amortized cost	1,772	7,220
Other assets (excluding advances to suppliers and prepaid expenses) [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at amortized cost	1,296	953
Cash and bank accounts [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	14,052	4,120
Short term investments [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	9,929	33,030
Long term investments [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	$ 1,986	$ 3,669

Financial instruments - Summary of Amounts Receivable and Project Advances (Detail) - Credit Risk [Member]
$ in Thousands

Dec. 31, 2020

USD ($)

Disclosure of financial assets [line items]

Financial assets

$ 47,787

Overdue Less than 90 days [Member]

Disclosure of financial assets [line items]

Financial assets

2,198

01 to 90 days [Member]

Disclosure of financial assets [line items]

Financial assets

12,105

Due in 271 to 360 days [Member]

Disclosure of financial assets [line items]

Financial assets

10,996

Over 360 days [Member]

Disclosure of financial assets [line items]

Financial assets

22,488

Accounts Receivable [Member]

Disclosure of financial assets [line items]

Financial assets

46,015

^[1]

Accounts Receivable [Member] | Overdue Less than 90 days [Member]

Disclosure of financial assets [line items]

Financial assets

2,198

^[1]

Accounts Receivable [Member] | 01 to 90 days [Member]

Disclosure of financial assets [line items]

Financial assets

10,828

^[1]

Accounts Receivable [Member] | Due in 271 to 360 days [Member]

Disclosure of financial assets [line items]

Financial assets

10,996

^[1]

Accounts Receivable [Member] | Over 360 days [Member]

Disclosure of financial assets [line items]

Financial assets

21,993

^[1]

Project Advances [Member]

Disclosure of financial assets [line items]

Financial assets

1,772

Project Advances [Member] | 01 to 90 days [Member]

Disclosure of financial assets [line items]

Financial assets

1,277

Project Advances [Member] | Over 360 days [Member]

Disclosure of financial assets [line items]

Financial assets

$ 495

[1]	Non current balances are related to management fees receivable from fund Private Equity IV in annual equal installments in December 31, 2022 and 2023.

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

Financial Instruments - Summary of Expected Future Payments for Liabilities (Detail) - Liquidity Risk [Member]
$ in Thousands

Dec. 31, 2020

USD ($)

Disclosure of financial liabilities [line items]

Financial liabilities

$ 43,262

01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

37,767

61 to 120 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

652

121 to 180 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

266

181 to 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

1,146

Over 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

3,431

Personnel and related taxes (excluding officers' fund and accrued vacation and related charges) [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

10,611

Personnel and related taxes (excluding officers' fund and accrued vacation and related charges) [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

10,611

Dividends payable [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

23,259

Dividends payable [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

23,259

Suppliers [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

3,039

Suppliers [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

3,039

Placement agents fees [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

1,250

Placement agents fees [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

450

Placement agents fees [Member] | 61 to 120 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

400

Placement agents fees [Member] | 181 to 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

400

Investment funds participating shares [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

1,515

Investment funds participating shares [Member] | Over 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

1,515

Lease payments [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

3,375

^[1]

Lease payments [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

252

^[1]

Lease payments [Member] | 61 to 120 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

252

^[1]

Lease payments [Member] | 121 to 180 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

266

^[1]

Lease payments [Member] | 181 to 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

746

^[1]

Lease payments [Member] | Over 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

1,859

^[1]

Other liabilities (excluding advances from customers) [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

213

Other liabilities (excluding advances from customers) [Member] | 01 to 60 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

156

Other liabilities (excluding advances from customers) [Member] | Over 360 days [Member]

Disclosure of financial liabilities [line items]

Financial liabilities

$ 57

[1]	Amounts reflect future cash outflow to settle liabilities, which include interest.

Financial Instruments - Summary of Sensitivity Analysis was Based on the Material Assets and Liabilities Exposed to Currencies Fluctuation (Detail) £ in Thousands, R$ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2020 BRL (R$)	Dec. 31, 2020 HKD ($)	Dec. 31, 2020 CLP ($)	Dec. 31, 2020 COP ($)	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Cash and cash equivalents	$ 14,052						$ 4,120	$ 2,346	$ 3,324
Short term investments	9,929
Accounts receivable	46,015						$ 26,117
Projects Advance	1,772
Other assets	4,243
Personnel and related taxes	14,329
Taxes payable	1,070
Other liabilities	9,287
Exchange Variation [Member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Cash and cash equivalents	113
Short term investments	92
Accounts receivable	884
Projects Advance	39
Other assets	131
Personnel and related taxes	(952)
Taxes payable	(107)
Other liabilities	(271)
Market Risk [Member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Cash and cash equivalents		R$ 626	$ 6,755	$ 49,702	$ 27,512	£ 44
Short term investments \| R$		4,782
Accounts receivable		45,327	6	38,527	132,631	14
Projects Advance		1,995	44		3,972	7
Other assets		5,979	9	10,525	177,044	64
Personnel and related taxes		41,308	2,308	121,634	1,409,774	509
Taxes payable		4,906	122	10,791	159,553	36
Other liabilities		R$ 12,436	$ 480	$ 12,644	$ 10,042	£ 174
Market Risk [Member] \| USD [Member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Cash and cash equivalents	12,922
Short term investments	9,009
Accounts receivable	37,180
Projects Advance	1,371
Other assets	2,938
Personnel and related taxes	4,806
Taxes payable	0
Other liabilities	6,573
Market Risk [Member] \| Exchange Variation [Member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Net impact	$ (71)

Financial instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021
Statements [Line Items]
Accounts receivable, allowance for credit loss, writeoff	$ 0	$ 0
Percentage of reasonably possible increase in actuarial assumption			10.00%
Later Than Three Months [Member]
Statements [Line Items]
Accounts receivable, past due	$ 0	$ 0

Related Parties - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended
	Apr. 30, 2021	Mar. 31, 2021
Officers Fund [Member] \| Top of range [member]
Statements [Line Items]
Grant benefit to employees vesting period		4 years
Officers Fund [Member] \| Bottom of range [member]
Statements [Line Items]
Grant benefit to employees vesting period		2 years
Nonadjusting Events Reporting Period [Member] \| Personnel Expenses [Member]
Statements [Line Items]
Directors and officers bonus	$ 0.2

Related Parties - Disclosure of Amounts Incurred by Entity Provision of Key Management Personnel Services (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Personnel Expenses [Member] \| Directors and Officers Compensation [Member]
Disclosure of amount incurred by entity for provision of key management personnel services [line items]
Amount incurred by entity for provision of key management personnel services	$ (2,582)	$ (2,738)	$ (2,720)

Related Parties - Summary of Related Parties of Officers Fund (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Other Assets	$ 47	$ 47
Officers Fund [Member]
Disclosure of transactions between related parties [line items]
Other Assets	47	47
Personnel current liabilities	1,271	1,043
Personnel non current liabilities	$ 1,527	$ 1,530

Events After The Reporting Period - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	12 Months Ended
	Jan. 21, 2021	Jan. 12, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [line items]
Dividend paid	$ 23,259
Share issue related cost				$ 2,169
Number of shares issued				117,000,000		117,000,000
Class A Common Share [Member]
Disclosure of non-adjusting events after reporting period [line items]
Percentage of distributed earnings by common holders			85.00%
IPO [Member]
Disclosure of non-adjusting events after reporting period [line items]
Proceeds from issuing shares			$ 302,700
Payments for share issue cost			3,099
Payments for underwriting expense			1,368
Share issue related cost			1,731
Stock issued during period, value, new issues			$ 100,000
Number of shares authorised			1,000,000,000
Par value per share			$ 0.0001
Number of shares issued			2
IPO [Member] \| Patria Latin American Growth Opportunity Acquisition Corp [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock issued during period, shares, new issues			25,000,000
Stockholders' equity note, stock split			one-third
Number of shares issued			1
Shares issued, price per share			$ 10.00
IPO [Member] \| Class A Common Share [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock issued during period, shares, new issues	34,613,647
Number of shares outstanding			500,000,000
Stockholders' equity note, stock split			one vote per share
IPO [Member] \| Class B Common Share [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares outstanding			250,000,000
Stockholders' equity note, stock split			10 votes per share
Primary Offering [Member] \| Class A Common Share [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock issued during period, shares, new issues	19,147,500
Secondary Offering [Member] \| Class A Common Share [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock issued during period, shares, new issues	15,466,147
Blackstone Pat Holdings IV LLC [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock issued during period, shares, acquisitions		100,000
Percentage of voting equity interests acquired		10.00%
Number of shares issued				46,800,000		46,800,000
Blackstone Pat Holdings IV LLC [Member] \| Nonadjusting Events Reporting Period [Member]
Disclosure of non-adjusting events after reporting period [line items]
Minority interest ownership percentage					19.60%
Blackstone Pat Holdings IV LLC [Member] \| Class B Common Share [Member] \| Nonadjusting Events Reporting Period [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued					3
Patria Holdings Ltd [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued				70,200,000		70,200,000
Patria Holdings Ltd [Member] \| Nonadjusting Events Reporting Period [Member]
Disclosure of non-adjusting events after reporting period [line items]
Minority interest ownership percentage					29.40%