Vinci Partners Investments Ltd (NASDAQ:VINP) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET

Company Participants

Anna Castro - IR Manager

Alessandro Horta - CEO & Director

Bruno Zaremba - Chairman, Private Equity Group & Head, IR

Sergio Passos - COO & CFO

Conference Call Participants

Daer Labarta - Goldman Sachs Group

Operator

Good afternoon, and welcome to the Vinci Partners First Quarter and Full Year 2022 Earnings Conference Call. [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 Sanju Pass, 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. 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 final reconciliations in the release. Also note that nothing on this call constitutes an not resell 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 all today as we announce results for the first quarter of 2023. Adjust distributable earnings, totally, BRL 6 million or BRL 1.10 per share, an increase of 6% in our cash earnings per share year-over-year. Fee-related earnings totaling BRL 49 million in the quarter or $0.09 per share, representing an increase of 14% year-over-year on a per share basis. our FRE continues to grow, driven by our continued success in expanding our private markets platform through new capital raisings and inorganic growth. Vinci announced a quarterly dividend of $0.16 on the dollar per common share in the fourth quarter representing a dividend distribution of $0.70 on the dollar over the last 12 months. which as of May 9 stock price represents an appealing 8.5% dividend yield. We are posting another quarter of growth backed by healthy upward trends in our FRE results.