Vinci Advances RE Fund

Vinci Partners has wrapped a the local tranche of its Vinci Real Estate FIP fund, set to raise about $220m-equivalent when it officially closes in May, according to people following the process. The Brazilian asset manager is preparing parallel local and international funds co-investing in Brazilian real estate assets, raising about $650m total. The first international closing is also expected in May, with final closing by the end of the year. Vinci and BNY Mellon are managing the domestic portion, with Credit Suisse coordinating the international effort. The local fund should have a 10-year life, able to be extended to 13 years.