Patria Investments and Bancolombia have announced the formation of a joint venture to invest in infrastructure assets in Colombia.

The partnership combines Patria's Latin American private markets expertise with Bancolombia's distribution capabilities to expand access to alternative investment products in Colombia. The Joint Venture will manage a real estate investment vehicle with around US$1 billion of assets under management, with Patria owning 51% and Bancolombia 49%. Patria will contribute capital to support joint venture operations and fund GP commitments for growth across various asset classes. The transaction is expected to close during Q3 2023.