Vinci Partners, a leading Brazilian asset management firm, has reported a robust performance for the second quarter of 2024, with fee-related earnings of BRL 61.9 million, or BRL 1.16 per share. This impressive growth represents a 24% increase on a per share basis compared to the same period last year.
Alessandro Horta, CEO, Discusses Fundraising Successes and Future Prospects
Alessandro Horta, CEO of Vinci Partners, led the earnings call, highlighting the company's remarkable growth in fee-related earnings. He attributed this success to the company's exceptional fundraising performance in Private Market Strategies, which has been delivering across several fronts despite challenging conditions in the global asset management industry.
One of the key highlights was the successful securing of nearly BRL 500 million in new capital subscriptions for VCP IV, the latest private equity fund. This achievement brings VCP IV to the same size as VCP III, underscoring Vinci's resilience in navigating the tough market conditions.
Horta also discussed the significant milestone achieved in July, with the first commitment from an international institutional investor for Vinci Credit Infra Fund. This commitment, which will reflect in AUM figures only in the third quarter, underscores Vinci's growing international presence and the increasing interest in alternative investment products.
Bruno Zaremba, Chairman and Head of Investor Relations, Addresses Fundraising Efforts and Performance
Bruno Zaremba, Chairman and Head of Investor Relations, delved deeper into Vinci's fundraising efforts, emphasizing the success of VCP IV in private equity, which has reached the same size as VCP III in Brazilian reais. Zaremba also highlighted the growing trend towards private markets investments in Brazil and the firm's strategic positioning to capitalize on this shift.
Zaremba also shared updates on the company's private credit segment, with the successful acquisition of MAV Capital adding approximately BRL 550 million in assets under management to Vinci's portfolio. This move strengthens Vinci's position in the agribusiness sector, a promising opportunity for growth in Brazil.
Sergio Passos Ribeiro, CFO, Outlines Financial Performance and Future Expectations
Sergio Passos Ribeiro, CFO, provided insights into Vinci's financial performance, detailing the company's management and advisory fees, which totaled BRL 126 million in the quarter, up 18% on a year-over-year basis. Passos Ribeiro also highlighted the robust demand for Vinci's services, with the company expecting to drive further growth through its Private Market strategies and inorganic expansion across Latin America.
Looking Ahead: Vinci Partners poised for Growth
The earnings call concluded with a positive outlook for Vinci Partners, with the company expecting to drive further growth through its Private Market strategies and inorganic expansion across Latin America. The successful fundraising efforts, strategic acquisitions, and a growing interest in alternative investment products position Vinci Partners for continued success in the challenging macroeconomic environment.