Italian asset manager Azimut has agreed to buy a minority stake in HighPost Capital, a private equity firm in the US partially owned by the Bezos family.
The asset manager will carry out the deal through its US subsidiary Azimut Alternative Capital Partners (AACP). Financial terms of the transaction were not shared.
Go deeper with GlobalData
As per the agreement, AACP will initially acquire a 12.5% equity interest in HighPost, with options to increase the ownership to 24.9% over time.
Azimut Group CEO Gabriele Blei said that the transaction further confirms the firm’s commitment to grow in the private markets space both in Italy and in the US.
“It is a privilege to partner with important families and family-offices who see us a solid strategic partner with a long-term approach and vision, also outside of our traditional asset management capabilities,” Blei added.
HighPost Capital
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFounded in June 2019 by managing partner and CEO David Moross and general partner Mark Bezos, HighPost focuses on opportunities with family-controlled and entrepreneur-led companies.
The firm will use the proceeds to grow and invest in the business in the form of working and growth capital.
Moross and Bezos said: “This investment provides HighPost with working capital and enhances our ability to capture attractive investment opportunities among high-growth, consumer-focused businesses in the middle market globally. We launched HighPost to drive long-term performance in our companies, maximize value through significant operational improvement.”
As part of the investment, Azimut will appoint a board member. There will be no changes in the strategy, management, investment process or day-to-day operations of HighPost as a result of AACP’s investment.
AACP
AACP was founded in November 2019 to partner with US-based alternative asset managers with $0.5-3bn in AUM.
The firm completed its first deal last year with the purchase of a stake in the opportunistic private credit firm Kennedy Lewis that currently manages $3bn in AUM.
Commenting on the latest deal, AACP CEO Jeff Brown said: “We at Azimut Alternative Capital Partners are delighted and honored to partner with HighPost and its leading executives. We believe that the combination of HighPost’s private equity experience and consumer sector knowledge and network, together with the strength of Azimut’s global resources, will fulfill our shared vision of helping HighPost achieve its greatest potential.”
Other moves by Azimut
In November last year, Azimut revealed plans to infuse capital in US-based brokerage firm Sanctuary Wealth, which serves breakaway advisers.
In 2019, Azimut agreed to purchase 100% of Egyptian peer Rasmala Egypt Asset Management from Rasmala Group, marking its foray into Egypt.
