Vinci Compass Q4 FRE 32.6% Margin, $0.17 Dividend After BRL16bn AUM Lift

COMPCOMP

Vinci Compass reported fourth-quarter fee-related earnings of BRL80.4 million (32.6% margin) and BRL354 billion in AUM, driven by BRL16 billion from the Verde acquisition, and declared a $0.17 per-share dividend. The firm posted full-year FRE of BRL188.4 million (30.4% margin) and ADE of BRL292.4 million, signalling BRL45 million unrealized IRE.

1. Strong Q4 and Full-Year Earnings

Vinci Compass reported fourth-quarter fee-related earnings of BRL80.4 million (BRL1.23 per share) with a 32.6% margin and adjusted distributable earnings of BRL81.3 million (BRL1.24 per share). For the full year, FRE reached BRL188.4 million (BRL4.52 per share) with a 30.4% margin, while ADE totaled BRL292.4 million (BRL4.58 per share).

2. Verde Acquisition Bolsters AUM Growth

The December closing of the Verde acquisition added BRL16 billion in assets under management, lifting total AUM to BRL354 billion at year-end. Net inflows and market appreciation contributed BRL14 billion in Q4 and BRL42 billion for 2025, representing a 13% year-over-year increase.

3. Investment-Related Earnings and 2026 Outlook

Management recorded BRL45 million of investment-related earnings from unrealized gains and cited liquidity events such as the Agibank IPO (3.8x multiple, 35% IRR) as evidence of improving fund liquidity. The firm expects unrealized IRE to become a larger net profit contributor in 2026 and is targeting low double-digit currency-adjusted AUM growth.

4. Dividend Declared and Capital Return

The board declared a quarterly dividend of $0.17 per share, payable April 2 to shareholders of record on March 19. Management emphasized ongoing integration synergies and product launches—such as the co-managed Vinci Verde FE Infra fund—as drivers for sustainable growth.

Sources

F