Vinci Compass Investments Ltd. reported strong second quarter 2025 earnings on August 12, 2025, with Fee Related Earnings (FRE) of R$65.2 million, or R$1.03 per common share. Adjusted Distributable Earnings (DE) reached R$75.8 million, or R$1.20 per common share. These results were driven by healthy FRE numbers, fueled by additional AUM from diverse strategies, including Infrastructure, Credit, and Global IP&S.
Total fee-related revenues surged to BRL 233 million, an 85% year-over-year increase, primarily due to the strategic inorganic growth from Compass and organic momentum. Excluding net catch-up fees, FRE grew 25% year-over-year. Performance-related earnings (PRE) saw a 50% year-over-year increase, with net performance fees recognized across credit, equities, Global IP&S, and real assets.
Total Assets Under Management (AUM) stood at BRL 304 billion at the end of Q2 2025, with BRL 8 billion in portfolio appreciation and BRL 3.5 billion in capital formation. Despite a BRL 12 billion negative FX variation due to a 5% appreciation of the Brazilian real against the U.S. dollar, AUM in U.S. dollar terms expanded from $53 billion in Q1 to $56 billion at the end of H1 2025. The full divestment of the remaining asset in FIP Infra Transmissao generated realized performance fees with a consolidated pretax impact of BRL 50 million on cash earnings.
Realized GP investment and financial income also increased by 49% year-over-year to BRL 35 million, driven by capital returns and strong liquid portfolio results. Vinci Compass declared a quarterly dividend of US$0.15 per share, payable on September 9, 2025, to shareholders of record on August 25, 2025. The company highlighted its strong position to navigate the dynamic environment and execute with discipline across all fronts.
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