Patria Investments Limited

Good day and thank you for standing by. Welcome to the PATRIA fourth quarter and full year 2020 for earnings conference call. At this time, all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Rob Lee, Head of Shareholder Relations. Please go ahead.

Thank you. Good morning, everyone, and welcome to Patria's fourth quarter 2024 earnings call. Speaking today on the call are our Chief Executive Officer, Alex Saig, and our Chief Financial Officer, Ana Russo, and our chief economist, Luis Fernando Lopes, for the Q&A session. This morning, we issued a press release and earnings presentation detailing our results for the quarter, which you can find posted on the investor relations section of our website or on form 6K, files of the Securities and Exchange Commission. This call is being webcast and a replay will be available. Before we begin, I'd like to remind everyone that today's call may include forward-looking statements which are uncertain, do not guarantee future performance, and undue reliance should not be placed on them. PATRIA assumes no obligation and does not intend to update any such forward-looking statements. Such statements are based on current management expectations and involve risks, including those discussed in the risk Factors section of our latest Form 20-F Annual Report. Also note that no statements on this call constitute an offer to sell or a solicitation of an offer to purchase an interest in any PATRIA fund. As a foreign private issuer, PATRIA reports financial results using International Financial Reporting Standards, or IFRS, as opposed to U.S. GAAP. Additionally, we would like to remind everyone that we will refer to certain non-IFRS measures, which we believe are relevant in assessing the financial performance of the business, but which should not be considered in isolation from or as a substitute for measures prepared in accordance with IFRS. Reconciliations of these measures to the most comparable IFRS measures are included in our earnings presentation. Now, I will turn the call over to Alex. Alex?

Thank you, Rob, and good morning, everyone. The fourth quarter kept a very exciting and indeed transformational year for PATRIA as we raised $5.5 billion, exceeding our full-year fundraising target of $5 billion. Fundraising included approximately $300 million we raised in our advisory business for third-party managers for which we earned a placement fee, with a balance of $5.2 billion contributing to our asset base. A wide variety of strategies and products contributed to our fundraising,