05:41 PM EST, 03/07/2024 (MT Newswires) -- Vinci Partners Investments ( VINP ) said Thursday it agreed to combine with Compass for an upfront consideration of almost 11.8 million class A Vinci shares.

The transaction will have $31.3 million cash component in the form of Vinci's class C redeemable shares, according to a statement.

The transaction will create a full-service Latin American alternative asset manager with $50 billion in assets under management, Brazil's Vinci said.

Compass Chair Manuel Balbontin and Vice Chair Jaime de la Barra will join Vinci's board on closing of the deal, the statement said.

Argentina's Compass has $37 billion in assets under management and advisory, Vinci said.

Vinci expects to complete the transaction in Q3.

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