Financial Performance - Adjusted Distributable Earnings (DE) reached R$7576 million, a 30% increase year-over-year [14, 98] - Adjusted DE per share was R$120, up 9% year-over-year [10, 14, 97] - Fee Related Revenues totaled R$2327 million, an 85% increase year-over-year [14, 28, 31] - Fee Related Earnings (FRE) were R$652 million, a 5% increase year-over-year [14, 36] Assets Under Management (AUM) - Total AUM reached R$3041 billion, up 339% year-over-year [19] - New capital formation in 2Q'25 totaled R$36 billion [19] - Portfolio appreciation of R$81 billion occurred during the quarter [19] Segment Performance - Global IP&S AUM ended the quarter at R$230 billion [61, 62] - Credit AUM totaled R$30 billion, up 258% year-over-year [65, 67] - Private Equity AUM reached R$16 billion, up 2% year-over-year [71, 73] - Real Assets AUM totaled R$12 billion, up 14% year-over-year [80, 82]