May 1, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Vinci Partners Investments, a Brazil-based company in control of a leading alternative investment platform, announced it has agreed to acquire MAV Capital, an alternative asset manager with approximately R$550 million (US$105.6 million) in AUM focused on the Brazilian agribusiness space. 

Although financial details were not disclosed, the transaction, which is expected to close in Q3 2024, will have an initial cash component, with an additional consideration in cash through an earnout structure to be paid in 2028, subject to achieving specific incremental management fee revenue targets. 

“We are thrilled to announce this transaction and welcome the MAV team to our platform,” said Alessandro Horta, CEO and director, Vinci Partners. 

“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.”

Founded in 2021, MAV Capital is led by a senior management team boasting more than 20 years of experience. Headed up by André Ito, a respected veteran with a background in major banking institutions, the team manages five investment vehicles comprising more than 35 in-house structured credit operations across sectors including agribusiness, real estate, and infrastructure. 

The team manages these capital pools through closed-end fund structures featuring long-term lockups extending up to 10 years. Of these, the flagship strategy focuses on acquiring debt securities within the agribusiness sector with two funds raised between 2021 and 2023. 

This enterprise will now be joining Vinci Partners – a top alternative investor founded in 2009 that is active in private equity, public equities, real estate, credit, infrastructure, hedge funds, investment products, and special solutions managed by dedicated investment teams working in an independent investment committee and decision-making process. The firm also has a financial advisory business centered in pre-IPO and M&A advisory services for Brazilian middle-market companies. 

“We are extremely happy to join Vinci, as we see a strong business and cultural fit,” said André Ito, founding partner and CEO, MAV Capital.

“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.”

Thanks to its extensive fertile land based and favorable climate conditions giving it a competitive advantage, Brazil is recognized as a key global agricultural producer and exporter with the sector accounting for a significant portion of the country’s GDP.

However, the agribusiness industry in the country is a substantially underserved segment by the investment sector, posing challenges for producers when trying to access credit, driving them toward private credit and capital markets, which translates into an outsized opportunity for Vinci Partners. 

The firm explained that this transaction aims to consolidate Vinci’s position across the agribusiness sector in Brazil, and is aligned with its long-term growth plan, enabling it to expand its offering by enhancing its credit segment and creating a dedicated vertical for the agribusiness sector. 

“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,” said Horta. “This transaction is aligned with Vinci’s long-term goals of broadening its business lines and building leading franchises.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and Agtech Intel News. She can be reached at lkiernan-stone@globalaginvesting.com.

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