Good morning & happy Tuesday! Today, all eyes are on Nubank, and why LatAm's digital banking giant is just getting started (deep dive into their Q4 & full 2025 year financials, breaking down the most important facts and figures, understanding what they mean & what's next for NU 0.00%'), and Meta, which is getting back to the stablecoin game again (what it's all about & why it matters + bonus deep dive into Stripe, which might be Meta's launch partner for stables, & the ultimate list of stablecoin resournces inside). So let's jump straight into the interesting stuff '' Earnings time ' NubankNU 0.00%', the world's largest digital banking platform outside of Asia, just posted its latest FY2025 financials, which confirmed what the market has been pricing in already: Nubank is a rare compounder that pairs hypergrowth with elite profitability. Its structural cost advantage - $0.80 monthly cost-to-serve versus $5-12 at incumbent Brazilian banks - is the engine that lets it profitably undercut legacy competitors while monetizing customers at an expanding rate....
The promotions strengthen leadership within both the Investment and Client Solutions teams. Scott Hong, Victor Mayer, Kunal Sood, and Ana Zarruk have been elevated to Partner, reinforcing Pantheon's regional coverage and private wealth expansion. Scott Hong leads client engagement in South Korea. Victor Mayer heads Pantheon's international private wealth team. Kunal Sood focuses on primary, secondary, and co-investment opportunities across Asia Pacific. Ana Zarruk leads client development in Latin America. Kathryn Leaf, Chief Executive Officer, said the promotions reflect Pantheon's leadership position as a 'preeminent secondaries investor across private markets' and its continued global expansion across institutional and private wealth channels. Pantheon manages approximately $82bn in discretionary AUM as of June 30, 2025. As secondaries strategies continue to scale globally, strengthening regional leadership has become a strategic priority for managers seeking durable growth in private markets....
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Platinum acquired the Madrid-based environmental services platform in October 2021 for approximately $4.2bn ('3.5bn). The sale reflects a multi-year transformation strategy focused on operational improvement, targeted M&A, and portfolio optimisation. Over the past five years, '1.6bn was invested through capex and acquisitions. The firm completed 20 add-on deals and divested 13 non-core divisions. Revenue rose by more than 60% and EBITDA by 70% since 2020. Backlog expanded by '3.0bn to over '15bn of revenues. 'With a seasoned management team in place alongside a focused strategic plan, the company has all the tools necessary for continued success in the next phase of its journey,' said Louis Samson, Co-President of Platinum Equity. 'Platinum Equity's partnership has been instrumental to our success,' said Urbaser CEO Fernando Abril-Martorell. 'Their operational and capital allocation support as well as strategic guidance helped sharpen our focus and enhance the efficiency and profitability of the business. We are proud of what we have achieved together.'...
