Glossary · Regional
Continuation fund (LatAm)
Definition
A GP-led structure where a fund manager moves one or more prized portfolio companies into a new vehicle, giving existing LPs the choice to cash out or roll into the new fund, while the manager keeps holding the asset longer.
Why it matters for a secondary
Patria Investments has publicly explored a listed continuation vehicle for Brazilian "champion" companies — the clearest sign this structure, reshaping global private equity, is arriving in the region.
Frequently asked questions
Does this term apply the same way everywhere in Latin America?
No. Each country in this glossary has its own regulator, corporate forms, and tax rules — this term is specific to the country tagged above. Check the linked country page for the fuller picture.
Is this legal or tax advice?
No. This is orientation for investors and allocators, not legal or tax advice. Confirm current rules with a licensed adviser in the relevant country before acting on anything here.