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1. Company Snapshot

1.a. Company Description

Vinci Partners Investments Ltd.operates as an asset management platform in Brazil.Its portfolio of investment products and solutions covers private equity, infrastructures, real estate, credit, public equities, hedge funds, and investment products and solutions to institutional and HNWI clients.


The company also offers financial and strategic advisory services, focusing primarily on IPO advisory and mergers and acquisition transactions on the sell side or the buy side to entrepreneurs, corporate management teams, and/or boards of directors.Vinci Partners Investments Ltd.was founded in 2009 and is headquartered in Rio de Janeiro, Brazil.

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1.b. Last Insights on VINP

Vinci Partners Investments Ltd.'s recent performance was positively driven by the acquisition of a 50.1% stake in Verde Asset Management, enhancing its Global Investment Products and Solutions (Global IP&S) product shelf and discretionary AUM mix. The company's Q2 2025 earnings results showed relative strength in Credit and GIP&S segments. Additionally, Vinci Compass' upcoming Q3 2025 earnings release, expected to show earnings of $0.1871 per share and revenue of $46.1540 million, may also contribute to its performance.

1.c. Company Highlights

2. Vinci Compass' Q3 2025 Earnings: A Strong Performance

Vinci Compass reported a robust financial performance in the third quarter of 2025, with adjusted distributable earnings of BRL73.1 million, or BRL1.16 per share, representing a 28% year-over-year increase on a nominal basis and 7% growth on a per-share basis. The company's fee-related earnings (FRE) margin expanded to 32.3%, the highest level year-to-date, driven by operating leverage from revenue growth, reduced transaction costs, and cost reduction initiatives. Total fee-related revenues reached BRL3.5 billion, while management fee basis stood at BRL2.5 billion. Earnings per share (EPS) came in at BRL0.22, slightly below estimates of BRL0.2241. Analysts estimate next year's revenue growth at 13.0%.

Publication Date: Nov -21

📋 Highlights
  • Record FRE Margin:: Achieved 32.3% FRE margin in Q3, highest of 2025, driven by revenue growth and cost reductions.
  • VERGI Acquisition Progress:: On track to close $0.15/share dividend and VERGI acquisition by November, strengthening Latin American alternative investment platform.
  • Capital Formation Surge:: Delivered BRL19 billion in capital formation, led by Global IP/S and credit, with strong fundraising pipeline from foreign investors.
  • AUM Expansion:: Total AUM reached BRL316 billion, with BRL241 billion in Global IP/S, reflecting robust distribution performance.
  • IRE Value Driver:: Introduced IRE metric, reporting BRL5 million in Q3 from realized gains and markups, supporting adjusted distributable earnings growth of 28% YoY.

Asset Under Management and Capital Formation

The company's assets under management (AUM) reached BRL316 billion, with BRL241 billion in Global IP and S. Vinci Compass delivered BRL19 billion in capital formation and appreciation during the quarter, driven by strong growth in Global IP and S and credit. The company has a robust fundraising pipeline, with interest from several foreign investors. According to Bruno Zaremba, the company's strong distribution teams are executing well across channels, and they are preparing to navigate Chile's pension reform.

Investment Related Earnings and Margin Expansion

Vinci Compass introduced the Investment Related Earnings (IRE) metric, which highlights realized and unrealized gains from commitments in proprietary funds. IRE stood at BRL5 million in the third quarter, driven by leased REITs and positive markups in funds. The company's FRE margin is expected to remain above 30% without the VEG acquisition and potentially reach the mid-30% level with VEG, as noted by Bruno Zaremba. The current valuation metrics indicate a P/E Ratio of 16.6, a P/B Ratio of 2.12, and a Dividend Yield of 5.14%. The ROE stands at 12.64%, indicating a relatively healthy return on equity.

Outlook and Growth Opportunities

Vinci Compass is well-positioned for growth, driven by its strong distribution teams, robust fundraising pipeline, and opportunities in private credit. The company is also seeing rotation of portfolios from clients in LatAm towards new verticals, providing opportunities for allocation. As Alessandro Huerta noted, they are also exploring opportunities for more discretionary allocation of funds and SMAs. With a strong track record of execution and a favorable market environment, Vinci Compass is poised for continued growth and expansion.

3. NewsRoom

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VINCI COMPASS COMPLETES ACQUISITION OF 50.1% STAKE IN VERDE ASSET MANAGEMENT

Dec -01

Source: prnewswire.com

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Vinci Compass Is Starting To Look Expensive On A Current Basis, But Withholds Tailwind Trends

Nov -20

Source: seekingalpha.com

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Vinci Compass Investments Ltd. (VINP) Q3 2025 Earnings Call Transcript

Nov -14

Source: seekingalpha.com

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VINCI COMPASS REPORTS THIRD QUARTER 2025 EARNINGS RESULTS

Nov -13

Source: prnewswire.com

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Vinci Compass Investments (VINP) Projected to Post Quarterly Earnings on Thursday

Nov -06

Source: defenseworld.net

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VINCI COMPASS TO ANNOUNCE THIRD QUARTER 2025 RESULTS AND HOST CONFERENCE CALL AFTER MARKET CLOSE ON THURSDAY, NOVEMBER 13, 2025

Oct -14

Source: prnewswire.com

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Vinci Compass Investments Ltd. (VINP) Analyst/Investor Day Prepared Remarks Transcript

Oct -08

Source: seekingalpha.com

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VINCI COMPASS TO HOST INVESTOR DAY TODAY AT 1:00 PM ET

Oct -07

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.51%)

6. Segments

Private Market Strategies

Expected Growth: 14.0%

Vinci Partners Investments Ltd.'s 14.0% growth in Private Market Strategies is driven by increasing demand for alternative investments, expansion into new markets, and a strong track record of returns. Additionally, the firm's expertise in real estate, infrastructure, and private equity, as well as its ability to identify undervalued opportunities, contribute to its growth momentum.

Liquid Strategies

Expected Growth: 12.0%

Vinci Partners' Liquid Strategies' 12.0% growth is driven by increasing demand for alternative investments, expansion into new markets, and a strong track record of returns. Additionally, the firm's expertise in real assets, such as infrastructure and real estate, has attracted institutional investors seeking diversification and yield.

Investment Products and Solutions

Expected Growth: 10.0%

Vinci Partners Investments Ltd.'s 10.0% growth in Investment Products and Solutions is driven by increasing demand for alternative investments, expansion into new markets, and a strong track record of returns. Additionally, the company's diversified product offerings, robust risk management, and strategic partnerships have contributed to its growth momentum.

Financial Advisory

Expected Growth: 8.0%

Vinci Partners Investments Ltd.'s 8.0% growth is driven by increasing demand for alternative investments, expansion into new markets, and a strong track record of returns. Additionally, the company's diversified portfolio, strategic partnerships, and experienced management team contribute to its growth momentum.

Vinci Retirement Services

Expected Growth: 15.0%

Vinci Retirement Services' 15.0% growth is driven by increasing demand for retirement planning, expansion into new markets, and strategic partnerships. Additionally, the company's expertise in alternative investments and tailored portfolio management solutions have attracted high-net-worth individuals and institutional clients, contributing to its rapid growth.

7. Detailed Products

Private Equity

Vinci Partners Investments Ltd. offers private equity investment solutions to its clients, providing access to a diversified portfolio of companies and assets.

Real Estate

The company's real estate segment focuses on investing in and managing a diversified portfolio of properties, including commercial and residential assets.

Infrastructure

Vinci Partners Investments Ltd. invests in infrastructure projects and assets, providing essential services to communities and generating stable returns.

Credit

The company's credit segment offers debt financing solutions to companies, providing access to capital for growth and expansion.

Wealth Management

Vinci Partners Investments Ltd. provides wealth management services to high net worth individuals, families, and institutions, offering customized investment solutions.

Asset Management

The company's asset management segment offers a range of investment funds and portfolios, catering to various investor profiles and goals.

8. Vinci Partners Investments Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Vinci Partners Investments Ltd. is medium, as there are some alternative investment options available to clients, but they are not highly attractive.

Bargaining Power Of Customers

The bargaining power of customers is low, as Vinci Partners Investments Ltd. has a strong brand reputation and a diversified client base, making it difficult for individual clients to negotiate better terms.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium, as Vinci Partners Investments Ltd. relies on a few key suppliers for its operations, but it also has some flexibility to switch to alternative suppliers if needed.

Threat Of New Entrants

The threat of new entrants is high, as the investment management industry is highly competitive and new firms can easily enter the market, posing a threat to Vinci Partners Investments Ltd.'s market share.

Intensity Of Rivalry

The intensity of rivalry is high, as Vinci Partners Investments Ltd. operates in a highly competitive industry with many established players, and the company needs to continuously innovate and improve its services to stay ahead of the competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 33.35%
Debt Cost 4.35%
Equity Weight 66.65%
Equity Cost 4.35%
WACC 4.35%
Leverage 50.03%

11. Quality Control: Vinci Partners Investments Ltd. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Barings

A-Score: 7.3/10

Value: 2.6

Growth: 4.6

Quality: 8.8

Yield: 10.0

Momentum: 8.0

Volatility: 9.7

1-Year Total Return ->

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Stock-Card
General American Investors Company

A-Score: 7.2/10

Value: 5.3

Growth: 2.8

Quality: 8.9

Yield: 9.0

Momentum: 7.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Vinci Partners

A-Score: 7.0/10

Value: 4.0

Growth: 3.2

Quality: 6.1

Yield: 10.0

Momentum: 8.5

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Sixth Street Specialty Lending

A-Score: 6.9/10

Value: 5.2

Growth: 4.3

Quality: 6.5

Yield: 10.0

Momentum: 6.0

Volatility: 9.7

1-Year Total Return ->

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Stock-Card
Crescent Capital BDC

A-Score: 6.8/10

Value: 6.3

Growth: 7.4

Quality: 6.3

Yield: 10.0

Momentum: 1.5

Volatility: 9.3

1-Year Total Return ->

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Stock-Card
Carlyle Secured Lending

A-Score: 6.6/10

Value: 5.7

Growth: 7.1

Quality: 6.1

Yield: 10.0

Momentum: 1.0

Volatility: 9.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

12.14$

Current Price

12.14$

Potential

-0.00%

Expected Cash-Flows