Vinci Partners Investments Ltd. (NASDAQ:VINP) Q1 2024 Results Conference Call May 9, 2024 5:00 PM ET

Company Participants

Anna Castro - Investor Relations Manager
Alessandro Horta - CEO, Director
Bruno Zaremba - Chairman, Private Equity, Investor Relations
Sergio Passos - COO & CFO

Conference Call Participants

Tito Labarta - Goldman Sachs
Ricardo Buchpiguel - BTG Pactual

Operator

Good afternoon, and welcome to the Vinci Partners First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this call will be recorded.

I would now like to turn the conference over to Ana 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 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 Factor section of our 20-F.

We will also refer to certain non-GAAP measures, and you find reconciliations in the release. Also note nothing on this call constitutes an offer to sell or solicitation of an offer to purchase an interest in any Vinci Partners fund.

On results, Vinci generated fee-related earnings of BRL53.6 million or BRL 1.01 per share, and adjusted distributable earnings of BRL49.6 million or $0.93 per share for the first quarter 2024. We declared a quarterly dividend of $0.17 on the dollar per common share, payable on June 7 to shareholders of record as of May 23.

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 2024.

I would like to start by highlighting the following: we posted another quarter with double-digit growth in fee-related earnings, pushed by strong fundraising across private markets products over the last 12 months in advisory fees in the first quarter. Vinci continues to deliver results facing challenging conditions where several asset managers in Brazil focused on single strategies have suffered to stay in business.