Vinci Compass Investments (VINP) Investor Day 2025 summary

Strategic direction and platform evolution

• Focus on becoming the leading alternative investment platform in Latin America, leveraging a pan-regional presence, diversified product suite, and deep local relationships across 12 offices in 8+ countries.

• Strategic combination of Vinci and Compass created a one-stop shop for alternatives, integrating distribution, manufacturing, and cross-border structuring capabilities, with unified leadership and governance.

• Verde Asset Management acquisition adds R$16 billion AUM, immediate scale in multi-strategy funds, and is expected to be double-digit accretive to FRE per share.

• Emphasis on disciplined capital allocation, creative M&A, product innovation, and continued shareholder returns through dividends and buybacks.

• Broader platform enables product innovation, deeper institutional relationships, and expanded distribution across Latin America.

Financial guidance and growth targets

• Targeting R$1.6 billion in fee-related revenues and R$600 million in FRE by 2028, with a 10 percentage point margin expansion and R$100 billion in fundraising inflows.

• Fee Related Revenues expected to grow at a 22% CAGR, and FRE at 26% CAGR, with margin projected to expand from 28% to 38% by 2028.

• IRE (Investment Related Earnings) introduced as a key value driver, with current cycle expected to add over R$400 million in net present value, 85% to be realized from 2026 to 2031.

• Model does not include M&A in targets; all projections are based on organic growth.

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

Business model and earnings drivers

• 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.

• PRE visibility underpinned by a growing base of performance-eligible AuM and accrued carry, with private funds expected to drive the next cycle.

• IRE commitments of R$1.4bn diversified across all segments, anchoring fundraising and future distributable earnings.

• Platform leverages proprietary relationships with 2,800+ LPs, 100% penetration in key LatAm pension funds, and robust cross-selling capabilities.