SPS Capital acquired by Vinci Partners

SPS Capital, a prominent Brazilian special situations fund with expertise in litigation funding, has been acquired by Vinci Partners, another leading alternative investment platform in Brazil.

“We are extremely happy to welcome SPS to our platform and have high expectations for what we can accomplish together in terms of AUM growth, product offering and solutions to our investors,” said Alessandro Horta, Vinci Partners’ Chief Executive Officer and Director.

“The team at SPS had outstanding success developing their business through successful fundraising of three vintages of their flagship strategy. Our partnership with SPS is the perfect first step for our expansion into the Special Situations market, a sizable and unexplored market in Brazil with a vast pool of asymmetric investment opportunities.

We believe the Transaction solidifies Vinci’s position as the player of choice for alternative investments in Brazil, with a full-suite of sophisticated and complementary business segments.”

Founded in 2017, SPS Capital is one of the top independent Special Situations asset managers in Brazil, focused on investment strategies that deliver equity like returns, through debt downside protected structures. The team manages its capital pools through closed-end fund structures, with lockups of up to eight years. In November 2021, SPS raised its latest vintage, SPS Capital III, with R$1.1 billion in capital commitments.

“SPS and Vinci are an excellent cultural and business fit, sharing the same values and principles based on reputation, first-class human capital and alignment of interest with our LPs,” said Marcelo Mifano, co-founding partner of SPS. “We are excited for the next chapter and delighted to be part of such established and well-recognized platform. We believe joining forces with Vinci’s robust platform and entire network of distribution capabilities will leverage SPS’ growth into new and adjacent products additional to our flagship strategy and will help us expand the business throughout the next years.”

SPS Capital, together with PGMBM, is funding the high-profile claim against mining giant BHP in relation to the Fundão dam collapse. In early July, BHP lost an appeal in a London court seeking to block the group claim, which is one of the largest in British legal history.