Vinci Compass Investments (VINP) Investor Day 2025 summary

Strategic Overview and Platform Evolution

• Expanded into a leading pan-Latin American alternative investment platform with over R$320 billion in AUM, 12 offices across 8+ countries, and a diversified product suite focused on institutional clients and proprietary LP relationships.

• Seamless integration of Vinci and Compass created a one-stop shop for alternatives, unlocking value through unified leadership, cross-border structuring, and a pan-regional approach to product development and distribution.

• Acquisition of Verde Asset Management adds R$16 billion in AUM, enhances multi-strategy and pension plan capabilities, and is expected to be immediately and double-digit accretive to FRE per share.

• Disciplined expansion and product innovation drive scalable growth, with a unified culture, strong governance, and streamlined decision-making supporting multi-market growth.

• Three complementary earnings streams—FRE, PRE, and IRE—provide resilience and compounding through cycles, supported by diversified strategies and client base.

Financial Guidance and Growth Targets

• Targeting R$100 billion in fundraising by 2028, with a focus on alternatives, private credit, and high-ROA discretionary products.

• Fee-related revenues projected to double from R$800 million to R$1.6 billion by 2028 at a 22% CAGR, with FRE margin expanding from 28% to 38% and FRE to grow at 26% CAGR to ~R$600 million.

• IRE earnings targeted to grow from R$264 million to R$600 million, with realized IRE from the current cycle estimated at NPV of ~R$400 million, 85% to be realized from 2026 to 2031.

• Operating leverage, cost synergies, and product mix shift expected to contribute at least two percentage points to margin expansion.

• Model assumes 100% organic growth for fundraising and FRE targets, with distributable earnings growth driven by realization of private market PRE and IRE.

Business Unit Highlights and Market Opportunities

• Private credit is a major growth driver, with plans to add $13 billion in AUM by June 2025 and expand regional vehicles across Latin America.

• Real estate platform manages R$6.2 billion in equity, with over 80% in perpetual capital vehicles, targeting further growth through REIT market expansion and regional entry into Mexico, Chile, and Colombia.

• Private equity team manages R$16 billion AUM, with a top-quartile track record, focusing on upper middle market growth and buyout strategies, and plans to launch VCP V with a $1 billion fundraising target.

• Infrastructure and forestry strategies leverage Brazil’s leadership in renewables and green investments, with new funds targeting sustainable assets and nature-based solutions.

• Global IP&S and third-party distribution units offer diversified solutions for institutional and private clients, with a push to increase discretionary mandates and higher fee yields.