VINCI PARTNERS TO EXPAND AGRIBUSINESS FOOTPRINT WITH THE ACQUISITION OF MAV CAPITAL
- MAV Capital is an alternative asset manager focused on agribusiness with approximately R$550 million in assets under management in sector specific private credit funds, led by a best-in-class and highly seasoned team with extensive experience in the sector;
- The transaction aims to consolidate Vinci's position across the agribusiness segment in Brazil, a substantially underserved segment by the investment industry;
- Brazil exhibits numerous competitive advantages and is currently recognized as a key global player, while locally agribusiness and related activities are a meaningful contributor to the country's GDP;
- The acquisition is aligned with Vinci's long-term growth plan, enabling Vinci to further expand its product offering by enhancing its credit segment and creating a dedicated vertical to the Agribusiness sector;
RIO DE JANEIRO, April 25, 2024 /PRNewswire/ -- Vinci Partners Investments Ltd. (NASDAQ:VINP) ("Vinci Partners," "Vinci," "we," "us," or "our"), the controlling company of a leading alternative investment platform in Brazil, announced today an agreement ("Transaction") to acquire MAV Capital ("MAV," "Team"), an alternative asset manager focused on the agribusiness segment in Brazil, with approximately R$550 million in assets under management.
"We are thrilled to announce this transaction and welcome the MAV team to our platform. We firmly believe that MAV's exceptional team will be a great addition to the platform and will act as a powerful catalyst to solidify our presence in the agribusiness landscape" said Alessandro Horta, Vinci Partners' Chief Executive Officer and Director.
"The agribusiness impact in Brazil is substantial, with the country being recognized as a key global player and a major exporter, thanks to its competitive advantages like extensive fertile land and favorable climate conditions.
Access to credit poses a significant challenge for producers, driving them towards private credit and capital markets, which translates into a sizeable market opportunity to Vinci. Having a dedicated, first-class team with extensive experience and a proven track record deploying capital to the sector allows us to expand our franchise and tackle this opportunity. This transaction is aligned with Vinci's long-term goals of broadening its business lines and building leading franchises."
Founded in 2021, MAV Capital is an alternative asset manager focused on the agribusiness sector, led by a seasoned management team with an extensive track record. The Team manages roughly R$550 million in assets, through five investment vehicles comprising more than 35 in-house structured credit operations across a number of sectors, such as Agribusiness, Real Estate and Infrastructure.
MAV´s senior management team boasts more than 20 years of experience, under the leadership of André Ito, a respected professional with a background in major banking institutions. The Team manages capital pools through closed-end fund structures, featuring long-term lockups extending up to ten years. Their flagship strategy revolves around acquiring debt securities within the agribusiness sector, with two vintages raised between 2021 and 2023.
"We are extremely happy to join Vinci, as we see a strong business and cultural fit. Combining our extensive expertise in originating operations across the agricultural sector with Vinci's well-established platform and distribution capabilities will be pivotal in expanding the franchise and crafting a leading solutions provider in the segment." said André Ito, founding partner and CEO of MAV Capital.
Transaction Overview
The Transaction will have an initial cash component, with an additional consideration in cash through an earnout structure to be paid in 2028, subject to the achievement of certain incremental management fee revenue targets.
The Transaction is expected to close in the third quarter of 2024, subject to regulatory approvals and other customary closing conditions. The acquisition of MAV Capital is not expected to have a meaningful impact to the company's short-term results.
Seneca Evercore acted as financial advisor to Vinci, with Lefosse Advogados as legal counsel. Themudo Lessa Advogados acted as legal counsel for MAV Capital.
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, 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.
About MAV Capital
MAV Capital is an alternative asset manager focused on the agribusiness sector, founded in 2021, led by a seasoned management team with an extensive track record, managing approximately R$550 million in assets through five investment funds.
Forward-Looking Statements
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SOURCE Vinci Partners Investments Ltd.