Vinci Repatriates EM Equity Veteran

Vinci Partners, the new Sao Paulo-based fund set up by former managers of Pactual Capital Partners (PCP), has hired Clecius Peixoto, LatAm portfolio manager at Emerging Markets Management (EMM), say people close to the move. Peixoto, who was based in Arlington, spent 11 years at EMM, which has over $12bn in AUM, and managed the fund’s LatAm portfolio. He joins Vinci as a partner and will run a Brazil-focused equity portfolio from the asset manager’s Sao Paulo office. The executive was apparently lured back to Brazil by the opportunity to participate in the country’s ongoing growth spurt, as well as interest in the domestic market, say people close to the executive. Vinci, which was launched at the end of 2009, is run by PCP founder Gilberto Sayao, a former senior partner at Banco Pactual, alongside Andre Esteves, now head of BTG Pactual. PCP was founded to manage the wealth of former Pactual partners and is in the process of winding down its portfolio and transferring some holdings to Vinci. This includes a 25% stake in homebuilder PDG Realty. The company is conducting a public follow-on offering, scheduled for February 4, designed to transfer PCP’s stake to Vinci and bring in new investors. Vinci has committed to purchase at least 10% of the deal and has the right to purchase the entire stake. Vinci is also in the process of merging assets with those of GAS Investimentos, a Sao Paulo-based fund with over BRL2bn AUM. Combined with GAS, Vinci will have close to BRL8bn under management. Meanwhile, EMM has adjusted its coverage. CEO Felicia Morrow, will assume day-to-day running of the LatAm portfolio with the help of a team of senior analysts. Two of them were hired recently, according to an executive close to the process.