BRAZIL – AZIMUT’S USD 125 MILLION ACQUISITION
Via its AZ Brasil Holdings subsidiary, the Azimut Group has signed an agreement to acquire 100% of the capital in MZK Investimentos, an independent asset management company specialised in macro strategies, with over 600 million Real (125 million US dollars) in assets managed. Azimut has nine offices in Brazil, in 5 cities, in 4 States: its head office is in San Paolo. Following its entry into Brazil in 2013, the Group has grown with a series of local acquisitions and joint ventures, and came to manage 25 billion Reals (about 5 billion US dollars) in 2020. In 5 years AZIMUT has increased the value of the assets managed ten-fold, thanks to the reduction in interest rates in the Country in recent years.
In Brazil, AZ Brasil Holdings is mainly engaged in two types of activities, via two subsidiaries: the AZ Quest savings management company that specialises in managing shareholding funds, macro, long, and short-term funds, debentures, credit, and liquidity (17 billion Reals of savings managed), and Azimut Brazil Wealth Management that provides investment solutions for various personal profiles (8 billion Reals of savings managed).
The common funds industry in Brazil manages over 1,000 billion US dollars, a very large part of which is in the assets of banking giants in the Country (Banco do Brasil, Caixa, Santander, and Bradesco), while Azimut is one of the leading independent operators in the industry.