- Lacan is a leading Timberland Investment Management
Organization (TIMO) in Brazil
managing R$1.5 billion in forestry
assets across 130,000 hectares in Brazil through four vintages
- The transaction aims to establish Vinci's presence in
Brazil's forestry sector, a key
strategy in Latin America with
substantial growth potential over coming years
- The acquisition is aligned with Vinci's long-term growth
plan, enabling the Company to further expand its product offering
by creating a new strategy within Private Markets with attractive
fees and long-term lockups
RIO DE
JANEIRO, Nov. 4, 2024 /PRNewswire/ -- Vinci
Partners Investments Ltd. (NASDAQ: VINP) ("Vinci Partners,"
"Vinci," "the Company," "we," "us," or "our"), the controlling
company of a leading alternative investment platform in
Brazil, announced today the
signing and closing of an agreement ("Transaction") to acquire
Lacan Ativos Reais ("Lacan", "Team"), an alternative asset manager
with a leading franchise in the forestry segment in Brazil, with approximately R$1.5 billion in assets under management.
"We are thrilled to announce this transaction and to welcome
Lacan's team to our platform. We have always regarded the forestry
sector in Brazil as a prime
opportunity for capital deployment, and we believe it is highly
complementary to Vinci's current product offering. As such, we
couldn't have found a better team to help establish Vinci's
presence in this sector. Lacan's long-term expertise and proven
track record in this asset class set them apart, and we are excited
to offer our clients this new investment strategy. In addition, the
Forestry vertical is already well developed in other Latin American
countries, and with the Team and strong track record of Lacan, we
believe there is opportunity to expand the strategy outside of
Brazil," said Alessandro Horta, Vinci Partners' Chief
Executive Officer.
Founded in 2000, Lacan is a leading Timberland Investment
Management Organization (TIMO) in Brazil, led by an experienced senior
management team with a proven track record. The Team manages
closed-end investment vehicles with long-term lockups of at least
ten years and a fee rate that exceeds the average for Vinci's
Private Markets strategy, with approximately R$1.5 billion in assets through a flagship
strategy that includes three vintages raised, in addition to the
fourth vintage currently in fundraising process.
Lacan boasts a robust investor base, with strong relationships
with high-quality institutional investors from Brazil and Europe. The strategy is committed to
sustainability, managing 130,000 hectares of planted forests and
preserved areas across four different states in Brazil. Furthermore, all operations are
100% FSC-certified, with a focus on planting exclusively on
cleared or degraded lands, reinforcing its dedication to
responsible environmental stewardship.
"Brazil offers numerous
competitive advantages in the forestry sector, holding an
impressive 8% share of the global roundwood market. The country's
eucalyptus cultivation process is not only unique but also the most
efficient in the world. With all the key drivers in place, we see a
significant opportunity for the investment fund industry to engage
in Brazil, which is currently
underserved in this sector.
At Vinci, we are positioning ourselves to become a regional
leader as this sector develops in the medium term. By combining our
exceptional distribution capabilities with Lacan's investment
expertise, we are poised to create a true regional champion," said
Luiz Augusto Candiota, founding partner and chairman of Lacan.
"We are thrilled to join a leading platform in Latin America, recognizing the immense
potential to scale our strategy not only as a trusted partner of
major forest-based companies but also as a developer of carbon
projects through both commercial forests and ecological
restoration. With nearly two decades of in-depth knowledge gained
from investing in forest assets, we are excited to take our
expertise to the next level."
Transaction Overview
The Transaction will include an
initial cash component, with additional cash considerations through
earnout structures over a period of up to four years, contingent
upon fundraising and incremental management fee revenues.
The Transaction was signed and closed on November 4th, 2024, and will start to
impact AUM and Distributable Earnings numbers for Vinci in the
fourth quarter 2024. The acquisition of Lacan is expected to be
immediately accretive to Fee Related Earnings per share and
Distributable Earnings per share.
Pinheiro Neto Advogados acted as legal counsel to Vinci. Cepeda
Advogados acted as legal counsel for Lacan.
About Vinci Partners
Vinci Partners is a leading
alternative investment platform in Brazil, established in 2009. Vinci Partners'
business segments include private equity, public equities, real
estate, private credit, infrastructure, special situations,
investment products and solutions and retirement services, each
managed by dedicated investment teams with an independent
investment committee and decision-making process. We also have a
financial advisory business, focusing mostly on pre-initial public
offering, or pre-IPO, and merger and acquisition, or M&A,
advisory services for Brazilian middle-market companies. On
October 29, 2024, Vinci announced the
closing of the combination with Compass, a leading independent
asset management firm in Latin
America, creating a full-service Latin American alternative
asset manager, that as of June 2024,
had more than US$52 billion in assets
under management.
About Lacan
Lacan is a leading Timberland Investment
Management Organization (TIMO) in Brazil, led by an experienced senior
management team with a proven track record. The team manages
approximately R$1.5 billion in assets
through one flagship strategy that includes three investment funds
raised between 2009 and 2020, in addition to the fourth vintage
currently in fundraising process.
Forward-Looking Statements
This press release
contains forward-looking statements that can be identified by the
use of words such as "anticipate," "believe," "could," "expect,"
"should," "plan," "intend," "estimate" and "potential," among
others. By their nature, forward-looking statements are necessarily
subject to a high degree of uncertainty and involve known and
unknown risks, uncertainties, assumptions and other factors because
they relate to events and depend on circumstances that will occur
in the future whether or not outside of our control. Such factors
may cause actual results, performance or developments to differ
materially from those expressed or implied by such forward-looking
statements and there can be no assurance that such forward-looking
statements will prove to be correct. The forward-looking statements
included herein speak only as at the date of this press release and
we do not undertake any obligation to update these forward-looking
statements. Past performance does not guarantee or predict future
performance. Moreover, neither we nor our affiliates, officers,
employees and agents undertake any obligation to review, update or
confirm expectations or estimates or to release any revisions to
any forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this press
release. Further information on these and other factors that could
affect our financial results is included in filings we have made
and will make with the U.S. Securities and Exchange Commission from
time to time.
USA Media Contact
Nick Lamplough / Kate Thompson / Katie Villany
Joele Frank, Wilkinson Brimmer
Katcher
+1 (212) 355-4449
Brazil Media Contact
Danthi Comunicações
Carla Azevedo
(carla@danthicomunicacoes.com.br)
+55 (21) 3114-0779
Investor Contact
ShareholderRelations@vincipartners.com
NY: +1 (646) 559-8040
RJ: +55 (21) 2159-6240
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SOURCE Vinci Partners Investments Ltd.
