Patria Investments (PAX)
Published 2026-02-05 • by thebearcave
Thesis Summary
Detailed Deep Dive
Snow Cap Research published on Patria Investments (NASDAQ: PAX — $2.33 billion), a Latin American asset management firm. Snow Cap alleged the company may be “overstating performance and concealing losses within its flagship private equity and infrastructure funds.” Snow Cap also highlighted that in December 2025 Patria’s CFO resigned (effective April 2026) and in April 2025 Patria switched auditors from Deloitte to KPMG.