Vinci Partners Investments Ltd. (NASDAQ:VINP) Q2 2023 Earnings Conference Call August 10, 2023 5:00 PM ET

Company Participants

Anna Castro - Manager of Investor Relations

Alessandro Horta - CEO

Sergio Passos - CFO

Bruno Zaremba - Chairman of Private Equity

Conference Call Participants

William Barranjard - Itau BBA

Ricardo Buchpiguel - BTG Pactual

Tito Labarta - Goldman Sachs

Yuri Fernandes – JPMorgan

Operator

Good afternoon, and welcome to the Vinci Partners' Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this call will be recorded. I would now like to turn the conference over to Anna Castro, Investor Relations Manager. Please go ahead, Anna.

Anna Castro

Thank you, and good afternoon, everyone. Joining today are Alessandro Horta, Chief Executive Officer; Bruno Zaremba, Private Equity Chairman and Head of Investor Relations; and Sergio Passos, Chief Financial Officer.

Earlier today, we issued a press release, slide presentation in our financial statements for the quarter, which are available on our website at ir.vincipartners.com. I'd like to remind you that today's call may include forward-looking statements, which are uncertain and outside of the firm's control and may differ from actual results materially. We do not undertake any duty to update these statements.

For a discussion of some of the risks that could affect results, please see the Risk Factors section of our 20-F. We will also refer to certain non-GAAP measures and find reconciliations in the release. Also note that nothing on this call constitutes an offer to sell or solicitation of an offer to purchase an interest in any Vinci Partners fund.

With that, I'll turn the call over to Alessandro.

Alessandro Horta

Thank you, Anna. Good afternoon and thank you all for joining our call. We are very pleased to join you today as we announce results for the first quarter of 2023. Adjusted distributable earnings totaling R$70 million or R$1.30 per share, an increase of 18% in our cash earnings per share year-over-year.

Vinci announced a quarter dividend of $0.20 on the dollar per common share. Over the last 12 months, we have distributed $0.73 per share as dividends that at the current stock price level represent a dividend yield close to 8%. Our fee related earnings totaling R$51 million in the quarter, or $0.94 per share, represented an increase of 11% year-over-year on a per share basis, driven by the ongoing fundraising across our private market vehicles and a higher contribution from advisor fees this quarter.