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ASSAÍ REPORTS ANOTHER STRONG RESULT, AND CLOSES THE FIRST HALF OF 2024 WITH R$ 35.1 BILLION IN NET SALES

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SÃO PAULO, Aug. 9, 2024 /PRNewswire/ — Assaí Atacadista (ASAI), one of Brazil’s leading cash & carry chains, closed the first half of 2024 with net sales of BRL 35.1 billion, marking a 12.9% year-over-year increase and an additional BRL 4 billion compared to the second half of 2023. This strong performance reflects the maturation of newly converted stores and a 2.9% increase in same-store sales. Quarterly net sales reached BRL 17.8 billion, up 11.8% year-over-year, contributing to a reduction in leverage to 3.65x. Assaí operates under the cash & carry model, similar to Costco, where “everyone shops, regardless of social class,” but without requiring membership.

Since 2021, Assaí has expanded its business by acquiring strategic locations in densely populated areas of major cities from another Brazilian retailer. This strategy has reshaped Brazil’s food retail landscape, increasing the number of stores from 212 at the end of 2021 to 293 today. A pioneering move in Brazil’s cash & carry sector has been the addition of services such as butcheries, delis, and wine cellars, which now feature in 80% of Assaí’s stores.

“We closed June with new units, improved profitability, and reduced leverage, further solidifying our presence nationwide.  Assaí is now present in 1 out of every 4 Brazilian households, and we plan to continue offering competitive prices with modern and innovative stores, strengthening our leadership in Brazil’s cash & carry market,” said Belmiro Gomes, CEO of Assaí. In the second half of 2024, Assaí plans to open 10 more stores, reaching 300 by year-end, while focusing on reducing leverage to below 3.2x, reinforcing it’s commitment to sustainable growth and value creation for shareholders.

The company will continue investing in its “Meu Assaí” app, which already has 14 million registered users—an increase of 1 million in the last quarter. Additionally, Assaí is launching marketing campaigns to celebrate its 50th anniversary.

About Assaí

Founded in 1974, Assaí operates under the cash & carry model, similar to Costco, where “everyone shops, regardless of social class,” but without requiring membership. The company serves small and medium-sized businesses, as well as end consumers, offering products in large volumes at competitive prices. With over 290 stores in Brazil, Assaí serves more than 35 million customers and holds a market share exceeding 30% in the segment.

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Vantage Markets Extends Deposit Bonus to Copy Trading Accounts

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PORT VILA, Vanuatu, Jan. 13, 2025 /PRNewswire/ — Vantage Markets, a leader in online trading solutions, has expanded its popular Deposit Bonus promotion to include Copy Trading Accounts, enhancing opportunities for Signal Providers and Copiers to boost their trading potential. With a thriving community of over 69,000 copy traders as of December 2024, this initiative underscores Vantage’s dedication to empowering traders globally.

The Deposit Bonus rewards new and existing users with additional credit on their first and subsequent deposits. Upon deposit, users in selected countries may be awarded complimentary credits, the maximum amount varies regionally, ranging from $5,000 to $20,000.

This initiative allows traders, both Signal Provider and Copies, to:

  1. Ability to select and copy strategies from our diverse range of traders with a wide array of products in their portfolio.
  2. Access greater market exposure with enhanced capital via additional credits on the first and subsequent deposits.
  3. Develop trading skills through increased market participation.
  4. Unlock opportunities for higher potential profits.

Getting started with the Deposit Bonus is simple:

  1. Open a Copy Trading Account: Available for both Signal Providers and Copiers.
  2. Make Your First Deposit: Receive up to $500 in complimentary bonus credits (base currency).
  3. Make Subsequent Deposits: Enjoy a bonus on additional deposits, capped based on your region.

Austin Law, Vantage Markets Copy Trading Project Manager, shared, “The growth in our Copy Traders is a testament to the strength of our app offerings. We are excited to give users even greater potential to trade their favorite products. This enhancement underscores our commitment to fostering a vibrant and rewarding trading community.”

The program will be a permanent feature in Vantage Markets’ expanding suite of benefits, providing both seasoned and beginner traders with the tools they need to succeed.

  • For Beginner Traders: Ultra-low barriers to entry, advanced copy modes, and access to a thriving community of over 86,000 traders.
  • For Seasoned Traders: Profit-sharing options up to 50%, strategy flexibility, and seamless MT4/MT5 integration.

Start Your Copy Trading Journey Today

Download the Vantage Markets app now and unlock a world of robust trading features and benefits.

For more information, visit Vantage Markets Copy Trading.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

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RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.

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AIP Capital Expands Leadership Team

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DUBLIN and STAMFORD, Conn., Jan. 13, 2025 /PRNewswire/ — AIP Capital, an alternative investment manager focused on opportunities in asset-based finance today announced that it has expanded its leadership team with several new hires, including Chris O’Scannlain, Chief Risk Officer based in AIP’s Stamford, CT office and Omar Mian, Managing Director, EMEA based in AIP’s Dublin, Ireland office. AIP is also announcing the promotion of Sinead O’Donnell to Chief Financial Officer.

“We are pleased and honored to welcome both Chris and Omar as members of our growing team,” said Jared Ailstock, Managing Partner at AIP Capital. “They will be instrumental as we grow the AIP platform and bolster our capabilities as a global full-service platform. We also recognize Sinead’s leadership and contributions to AIP, and we are excited to promote her to Chief Financial Officer.”

As Chief Risk Officer, Mr. O’Scannlain will be responsible for establishing and maintaining an independent risk function for identifying, monitoring and escalating risks to facilitate investment decision and active portfolio management. Mr. O’Scannlain brings over twenty years of global experience in aviation finance. Prior to joining AIP Capital, Mr. O’Scannlain worked at Apollo PK AirFinance, as Head of Credit Risk covering a global portfolio. Before joining Apollo PK, Mr. O’Scannlain spent ten years covering the Americas at SMBC Aviation Capital in New York and Dublin. Mr. O’Scannlain also served as an associate analyst on the Airlines and Aircraft Lessors equity research team at Citigroup Global Markets. He began his career on the corporate finance team at US Airways where he supported a comprehensive Chapter 11 restructuring and recapitalization. Mr. O’Scannlain has a MBA from the University of Michigan Ross School of Business and BA in History from the College of the Holy Cross.  

As Managing Director, EMEA, Mr. Mian will be responsible for all commercial, marketing and origination efforts across the aviation platform throughout the EMEA region. Prior to joining AIP Capital, Mr. Mian was a Senior Director of Customer Finance in The Boeing Company’s Commercial Airplanes division responsible for airlines in Europe as well as global leasing companies and asset managers.  Mr. Mian was also a Board Member of Boeing Ireland Ltd, having moved to Dublin in June 2023 after initially joining Boeing Capital Corporation in 2019 based out of Dubai, where he was responsible for airlines and financial institutions across Middle East & North Africa. Prior to Boeing, Mr. Mian worked at Citigroup, Standard Chartered Bank and First Abu Dhabi Bank in their respective corporate & investment banking divisions where he gained extensive experience in originating, structuring and executing a wide array of financing solutions across a variety of industry sectors, especially aviation, throughout the EMEA region. Mr. Mian holds a Master of Science in International Accounting and Finance from The London School of Economics and Political Science, and a Bachelor of Arts in Business Economics from the University of Durham.

As Chief Financial Officer, Ms. O’Donnell will continue her responsibly of leading AIP’s Finance and Operations team and will assume incremental responsibility and accountability across AIP’s equipment finance and asset management platforms. Prior to this role, Ms. O’Donnell was Chief Accounting Officer and has been with AIP since its founding in 2023.

About AIP Capital

AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance with approximately $3 billion of assets under management and over 30 employees globally. AIP believes its unique investment strategy, relationships, and hands-on approach enable AIP to execute its mission of generating attractive risk-adjusted returns for its clients across market cycles. With offices in Stamford, Dublin, New York and Singapore, AIP maintains a global footprint and is backed by a full platform of professionals across finance, technical, legal, risk management and underwriting.

For more information about AIP Capital or to speak with company executives, please contact [email protected].

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iM Global Partner mourns the passing of Philippe Uzan

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PARIS, Jan. 13, 2025 /PRNewswire/ — It is with deep sadness that iM Global Partner (iMGP) announces the passing, one month ago, of our dear friend and colleague, Philippe Uzan.

 

 

Philippe’s exceptional career in asset management spanned more than 30 years and is marked by remarkable achievements in the organizations for which he worked and deep contributions to the industry as a whole. His passing is a tremendous loss to all who knew and worked with him.

Philippe joined iM Global Partner in February 2020 as Deputy CEO and CIO Global Asset Management, responsible for overseeing our financial strategies and products and designing value-added investment solutions for our clients across Europe and the United States.

His expertise spanned all asset classes, and he had a deep understanding of markets and their impact on investors and their investment needs. He was an eloquent man who contributed a number of papers and articles to the media, always with the intention of educating and making financial concepts more relatable. He has left an indelible mark on our organization and on the broader industry.

Prior to joining iM Global Partner, Philippe was latterly Chief Investment Officer at Edmond De Rothschild Asset Management, where he worked for 11 years and where he led the portfolio management teams, optimizing the synergies between analysis and portfolio management. He previously spent three years as Research and Global Asset Allocation Director, where he developed the portfolio management and research teams and modernized investment processes and the product range.

Philippe began his career as an Equity Derivatives Trader at Société Générale and held roles at AGF Asset Management (now part of Allianz Global Investors) and Natixis AM.

Throughout his career, Philippe’s outstanding intelligence, humility, and collaborative spirit earned him the respect and admiration of his peers.

Philippe Couvrecelle, Founder and CEO of iM Global Partner, expressed his heartfelt condolences: “It was with infinite sadness and pain that I learned of Philippe’s passing from a devastating illness. I had known Philippe closely for almost 20 years, as we worked together for Natixis, Edmond de Rothschild and iMGP. I pay immense tribute to his humanity, his sense of humor, his brilliant intelligence and his presence, which I will deeply miss. We had shared so much and still had so much to do together. In his memory, we will continue our path forward with strength, success and intensity, always preserving our values and our company culture to which he was so attached.

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We will all miss Philippe enormously at iM Global Partner. He will be remembered not only for his professional achievements but also for his warmth, generosity, kindness and his unwavering dedication to his colleagues and community. Our thoughts are with his wife and three children, his family, friends and loved ones during this difficult time.”

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CONTACT: [email protected]

 

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