Vinci Partners partners with BACS Asset Management in Argentina

Vinci Compass signed of an agreement to combine its Argentine asset management operations with BACS Administradora de Activos, or BACS Asset Management, a local mutual fund manager and capital markets platform in Argentina established in 2012 with a focus on corporate and retail clients, managing a product suite across money market and non-money market funds. BACS Asset Management benefits from integration with BACS Banco de Credito and Banco Hipotecario, one of Argentina’s best-capitalized banks. The transaction creates a scaled platform with approximately $1.6B in AuM. The combination approximately doubles Vinci Compass’ asset management business in Argentina. With the combination, Vinci Compass will gain access to BACS’ and Banco Hipotecario’s corporate and retail distribution network. The transaction has been implemented solely through a corporate reorganization at Vinci Compass’ Argentine entity level, without any cash component, pursuant to which Vinci Compass will retain the management of the combined asset management platform, while BACS Asset Management shareholders will maintain a minority ownership interest. The combined entity will operate under Vinci Compass’ investment governance, risk management and compliance framework. The transaction is expected to be immediately accretive to Vinci Compass’ local Argentine business earnings profile and is expected to close in Q2.