Vinci Compass Investments Ltd. · NASDAQ:VINP
Vinci Compass Investments — Vinci Partners Investments — Merger or Acquisition (November 2024)
29 slides from Vinci Compass Investments's merger presentation, Nov 25, 2024
Slide 1: Vinci's Combination with Compass
1 Vinci's Combination with Compass November 2024
Slide 2: Vinci Partners: Closing a successful first chapter since IPO in 2021
2 2 Vinci Partners: Closing a successful first - chapter Growth Avenues since IPO in 2021 Taking advantage of the underpenetration of Alternatives in Brazil to grow the platform organically Leverage fundraising and FRE expansion through GP commitments in proprietary funds 1 3 Opportunistic M&A to co
Slide 3: Vinci has raised over R$12 billion organically, leveraged by seed investments
3 Vinci has raised over R$12 billion organically, leveraged by seed investments from our Balance Sheet VCP IV VICC REITs R$1.1 billion in proprietary commitments Credit Infra VFDL VIAS … leveraging our seed investments by ~9x. These commitments enhance our Earnings Power, leveraging FRE and PRE grow
Slide 4: We used opportunistic M&A to find the best partners
4 We used opportunistic M&A to find the best partners, complementing our product offering and capabilities • Opportunistic Credit independent asset manager • Extensive track record in a sizable and unexplored segment of the market • Business model with recurring and high - visibility revenue stream
Slide 5: Capital light business model allows growth while distributing significant cash flow
5 Capital light business model allows the firm to grow while distributing significant cash flow back to shareholders through dividends and share repurchases 300 464 FY'20 3Q'24 LTM 2.97 4.29 FY'20 3Q'24 LTM Vinci has delivered consistent growth since our IPO 50 70 2020 3Q'24 US$2.60 Total Dividend P
Slide 6: The next chapter... Our expansion in Latin America
6 The next chapter... Our expansion in Latin America
Slide 7: Vinci and Compass: A Strategic Combination
7 Vinci and Compass: A Strategic Combination 6 FOOTPRINT EXPANSION IN LATAM %• Latin America is one of the most attractive and growing markets for the alternative asset class • GDP for the region totals more than US$7 trillion, with a Population that adds up to more than 660 million people • Region
Slide 8: Compass was founded in 1995 and has posted consistent growth
8 Compass was founded in 1995 and has been posting consistent growth as it expanded through Latin America 0 0.2 0 1 3 2 2 5 7 8 10 11 15 13 19 26 25 38 51 73 118 107 120 139 154 201 203 172 181 224 1995 1999 2003 2007 2011 2015 2019 2023 R$ Billion Compass was founded in 1995, and has since expanded
Slide 9: Compass developed a dominant and differentiated ecosystem in LatAm
9 Compass developed a dominant and differentiated ecosystem in LatAm Global Vision with Local Presence +R$224bn in Assets under Management¹ 7 Countries in LatAm plus USA and UK New York Miami Bogotá Lima Santiago Buenos Aires Montevideo Sao Paulo 19 Executive Partners with an average of 17 years wor
Slide 10: Vinci Compass: Unparalleled Differentiated Platform
10 Vinci Compass: Unparalleled Differentiated Platform One firm Teams working together on a regional basis Diversification Full - service platform Best - in - class Investment teams covering all the main alternative asset classes combined with outstanding distribution capabilities
Slide 11: Combination creates a leading full-service alternative asset manager in Latin America
11 Combination creates a leading full - service alternative asset manager in Latin America RESEARCH RISK LEGAL & COMPLIANCE CLIENT RELATIONS OPERATIONS ESG R$ 296 bn in AUM¹ Private Equity Credit Equities Global Investment Products and Solutions Real Assets Corporate Advisory Credit solutions develo
Slide 12: Unified Leadership
12 Unified Leadership Gilberto Sayão Chairman Alessandro Horta CEO and Head of Real Assets Manuel Balbontin Director Jaime de la Barra Director and Head of Global IP&S Bruno Zaremba Roberto Leuzinger People & Governance Sergio Passos CFO Fernando Lovisotto Global IP&S Leandro Bousquet Head of Credit
Slide 13: Well-established client relations team drives cross-selling opportunities
13 With a well - established, far - reaching client relations team with deep - knowledge of the alternative market … combined with Vinci's institutional reach and proven ability to sell proprietary products... ...uniquely position us, as a combined company, to effectively drive cross - selling oppor
Slide 14: Pan-Regional presence with diversified exposure to product, funding and currency
14 Pan - Regional presence with a diversified exposure to product offering, funding and currency Notes: ¹Considers Pro Forma assets under management and advisory as of September 2024; ²Fee Related Revenues as of 3Q24 last twe lve months excluding net advisory revenues from Corporate Advisory segment
Slide 15: Global Investment Products and Solutions (Global IP&S)
15 R$226 billion in AUM¹ Global Investment Products and Solutions (Global IP&S) Notes: ¹Pro Forma assets under management and advisory as of September 2024; TPD stands for Third Party Distribution. Providing access to a network of world - class GPs and top - tier asset managers, we deliver bespoke g
Slide 16: Credit
16 R$27 billion in AUM¹ Credit Notes: ¹Pro Forma AUM as of September 2024. 44% 24% 12% 9% 6% 5% AUM Breakdown By Geography Brazil LatAm Argentina Mexico Peru Chile 53% 29% 15% 3% AUM Breakdown by Client Profile Institutional Intermediaries HNWI Public Market Vehicles Local Currency High Grade & High
Slide 17: Private Equity
17 Private Equity Notes: As of September 2024; ¹Gross IRR and Gross MOIC in Brazilian Reais. R$16 billion in AUM 2.5x Gross MOIC¹ 64.6% Gross IRR¹ 66% 23% 10% Client Profile Breakdown Institutional HNWI Intermediaries Turnaround VIR Strategy Minority Growth R$15.8 bn AUM &UHDWHGE\&KDQXWLV,QGXVWU
Slide 18: Equities
18 85% 10% 5% Client Profile Breakdown Institutional HNWI Intermediaries R$14.8 bn AUM R$15 billion in AUM¹ Equities Brazil R$10.9 bn in AUM • Long Only • Dividends • Small Caps • Long Biased • Others Chile R$2.1 bn in AUM • Long Only • Small Caps Strategies Overview Mexico R$1.0 bn in AUM • Long On
Slide 19: Real Assets
19 R$12 billion in AUM¹ Real Assets Notes: ¹Pro Forma AUM as of September 2024. 47% 42% 7% 4% Client Profile Breakdown Public Market Vehicles Institutional HNWI Intermediaries Forestry R$1.6 bn • Investments in major real estate segment • Seven Listed REITs in Brazilian Stock Market • Opportunistic
Slide 20: CCLA Group Overview
20 Asset Management Construction Management Property Management Source acquisitions and oversee assets through disposition Ensure projects align with requirements, assist with due diligence and oversee constructions Manage Leasing activity, strive for optimal tenant mix and maintain tenant relations
Slide 21: Consolidating Vinci Compass' position as gateway to alternative investments in Latin America
21 Consolidating Vinci Compass’ position as the gateway to alternative investments in Latin America Vinci Compass’ offices +600 Employees LPs Global to Local Local to Global Local to Local Global to Regional Years Providing Investment Solutions in LatAm 7 Countries in LatAm plus USA and UK Strong di
Slide 22: AUM Rollforward Pro Forma
22 AUM Rollforward Pro Forma Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 246,577 9,282 17,737 13,971 21,353 184,234 AUM - As of September 2023 2,794 1,573 – 498 183 540 (+/ - ) Capital Subscription / (capital return) 4,334 2,213 – 808 765 548 (+) Capital Subscription
Slide 23: Combination with Compass is immediately accretive to FRE per Share
23 Combination with Compass is immediately accretive to FRE per Share Notes: 1 Pro forma unaudited figures. 3Q'24 YTD PF¹ 3Q’24 PF¹ 3Q'24 YTD 3Q’24 Unit 667 229 345 113 R$ mm Fee Related Revenues 218 72 169 54 R$ mm Pre - Tax FRE 32.6% 31.3% 49.1% 47.7% % FRE Margin 3.36 1.11 3.20 1.02 (R$/share) FR
Slide 24: Management Focus for Future Growth
24 Management Focus for Future Growth Expansion of Alternatives across LatAm Revenue Enhancement to Drive Margin Expansion Inorganic Growth to Accelerate Region Expansion
Slide 25: Growth Opportunities for Vinci Compass
25 Growth Opportunities for Vinci Compass Source : Preqin x Private Credit and Real Estate present the highest demand from local investors into country - specific strategies Increase in allocation to Alternatives from local LPs into Country - specific funds • Although ~50% of LATAM LPs invest in alt
Slide 26: Growth Opportunities for Vinci Compass
26 Growth Opportunities for Vinci Compass Source : Preqin and Abrapp x Raising capital from Compass’ existing relationships to SPS IV and Equities Brazil x Increase average fee in Global IP&S by allocating to proprietary products Leverage Compass’ Relationship network in Latin America to distribute
Slide 27: Growth Opportunities for Vinci Compass
27 Growth Opportunities for Vinci Compass x During the integration process Vinci and Compass teams have screened out ~30 potentially attractive AAM partners across main alternative asset classes, such as Private Equity, Infrastructure, Private Credit and Real Estate x In countries with limited oppor
Slide 28: Key Takeaways
28 Key Takeaways Combining the expertise of two investment leaders to create a unique full - service investment platform in Latin America , serving the whole spectrum of the alternative asset class with local, regional and global solutions . 1 2 3 4 There is significant opportunity to grow the platf
Slide 29: Cotearatges 1025,
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