Vinci Compass Investments (VINP) investor relations material

Strategic direction and platform evolution

• The platform aims to be the leading alternative investment provider in Latin America, leveraging a diversified product suite, deep regional presence, and a pan-Latin American footprint with R$320bn AuM across 12 offices in 8+ countries.

• Strategic combinations, including Vinci and Compass, have created a one-stop shop for alternatives, integrating distribution, manufacturing, and cross-border structuring capabilities.

• Expansion into private credit, regional product development, and scaling international distribution are key growth drivers, with a focus on cross-selling, discretionary mandates, and higher fee products.

• Governance and leadership structures have been unified, with enhanced committees and streamlined decision-making to support multi-market growth.

• AI and technology adoption are being accelerated to drive operational efficiency and support future growth.

Financial guidance and growth targets

• Three-year targets include doubling fee-related revenues to R$1.6bn and fee-related earnings to R$600m by 2028, with a 10 percentage point margin expansion and FRE margin projected to reach 38%.

• Fundraising target of R$100bn from 2H 2025 to 2028, focused on alternatives, private credit, and high-ROA discretionary products.

• Guidance assumes organic growth, with no further M&A included in projections; impact of recent acquisitions like VEG is fully consolidated.

• Realized IRE from the current investment cycle estimated at NPV of R$400m, with 85% to be realized from 2026 to 2031.

• Continued disciplined capital allocation, balancing M&A, buybacks, proprietary fund commitments, and strong dividend distribution.

Business model and earnings drivers

• The platform offers over 50 strategies across alternatives, liquid, and global solutions, with highly diversified AUM and revenue base.

• Three complementary earnings streams: FRE (recurring fees), PRE (performance fees), and IRE (GP capital gains), providing resilience and compounding through cycles.

• FRE is highly diversified by strategy and client, with 84% of FEAUM from recurring fees and low concentration risk.

• Institutional clients remain the core, with deep penetration in Latin American pension funds and growing relationships with global investors.

• Private credit, infrastructure, real estate, and forestry are highlighted as high-growth areas, with new regional vehicles and product launches planned.