Q2 2024 Vinci Partners Investments Ltd Earnings Call Transcript
Key Points
- Vinci Partners Investments Ltd (VINP) reported a 25% increase in fee-related earnings per share year-over-year.
- The company successfully raised nearly BRL500 million in new capital subscriptions for VCP IV, despite challenging market conditions.
- Vinci Partners Investments Ltd (VINP) secured its first commitment from an international institutional investor for the Vinci Credit Infra Fund.
- The acquisition of MAV Capital added approximately BRL550 million in assets under management, enhancing their position in the agribusiness sector.
- The integration process with Compass is progressing smoothly, with significant synergy gains expected from the merger.
- The global asset management industry is facing significant challenges in raising capital, impacting Vinci Partners Investments Ltd (VINP)'s fundraising efforts.
- The IP&S segment continued to experience outflows, particularly from pension strategies within the allocators and distributors channel.
- Performance fees remained relatively modest due to market volatility in the first half of the year.
- The company incurred approximately BRL12 million in non-operational expenses related to transactions with Compass and MAV Capital.
- The macroeconomic environment remains unfavorable, with high interest rates locally and globally affecting fundraising and market performance.
Good afternoon, and welcome to the Vinci Partners second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call will be recorded.
I would now like to turn the conference over to Anna Castro, Investor Relations Manager. Please go ahead Anna.
Thank you and good afternoon everyone. Joining today are Alessandro Horta, Chief Executive Officer; Bruno Zaremba, Private Equity Chairman and Head of Investor Relations; and Sergio Passos, Chief Financial Officer. Earlier today we issued a press release slide presentation in our financial statements for the quarter, which are available on our website at ir.vincipartners.com.
I'd like to remind you that today's call may include forward-looking statements, which are uncertain outside of the firm's control and may differ from actual results materially. We do not undertake any duty to update these statements. For discussion on some of the risks that could affect results, please see the risk factors section of our 20-F. We will
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