Vinci Partners Investments Ltd. (NASDAQ:VINP) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET

Company Participants

Anna Castro - Investor Relations Manager

Alessandro Horta - Chief Executive Officer

Bruno Zaremba - Head of Private Equity & Investor Relations

Sergio Passos - Chief Operating Officer & Chief Financial Officer

Conference Call Participants

Tito Labarta - Goldman Sachs

Ricardo Buchpiguel - BTG Pactual

Anna Castro

Good afternoon I'm Anna Castro Investor Relations Manager. On behalf of the company I'd like to welcome you all to Vinci Partners' First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we’ll conduct a question-and-answer session. [Operator Instructions] As a reminder this call will be recorded.

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 and 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 some non-GAAP measures and you'll 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 extremely pleased to join you all today as we announce results for the first quarter of 2022. Adjusted distributable earnings totaled BRL57.7 million in the first quarter or BRL1.03 per common share, when adjusted for non-recurring expenses incurred in the quarter. This represented an increase of 22% year-over-year.

Vinci announced a quarterly dividend of $0.17 on the dollar per common share, totaling $0.83 per common share distributed as dividends since our IPO. We continue to deliver solid results, thanks to our asset-light and diversified business model translating into substantial amounts of free cash flow and an attractive dividend distribution to our shareholders.

We ended the first quarter with BRL57 billion in AUM, a solid result compared to the end of the fourth quarter of 2021 with no relevant outflows in the quarter, despite the challenging macroeconomic scenario in Brazil. During the quarter, we also had the effect of capital returns, totaling BRL1 billion in our infrastructure strategy.