Vinci Compass (VINP) Q2 FY26 earnings call

Vinci Compass delivered a strong second quarter, marked by significant AUM growth driven by strategic acquisitions of BACS and Navi's Real Estate funds, alongside robust organic expansion in Credit and Real Assets. The firm demonstrated operating leverage with substantial FRE margin expansion, despite headwinds from lower advisory fees and reduced financial income due to capital deployment. Management remains confident in achieving its long-term FRE margin target, supported by a strong fundraising pipeline and the compounding benefits of its scaled platform across Latin America.