Azimut Holding

Azimut Holding is an Italian independent financial-services group serving private and corporate clients through activities in asset management, wealth management, investment banking and fintech. Its operating model combines investment-product manufacturing, advisory and distribution, insurance-related services, and a growing international network of local businesses. The group has companies involved in the sale, management and distribution of financial and insurance products, with operations and registered offices across Europe, the Americas, Asia-Pacific and the Middle East. The business traces its origins to the creation of a management company under the Azimut name within Akros Finanziaria in the late 1980s. A broader group-building project developed in 1990 following the arrival of Pietro Giuliani, who is identified in the reference material as the group’s chairman. Azimut subsequently became associated with Bipop-Carire, which acquired it in 1998. During the restructuring of Bipop-Carire, Azimut was bought back in 2001 with the support of Apax Partners. Approximately 700 people participated in the management buyout completed in June 2002, helping establish the independent ownership and governance model that has characterized the group. Azimut Holding S.p.A. was listed on the Milan Stock Exchange in July 2004. The group later developed insurance capabilities through AzLife, now Azimut Life, established in Ireland, and expanded its investment-management offering to include hedge strategies and alternative investments. Its internationalization accelerated from 2010 onward, initially through activity in China, Turkey, Germany and Switzerland, followed by expansion into Taiwan, Brazil, Singapore, Mexico, Australia, Chile, the United States, the United Arab Emirates, Egypt and Portugal. The group’s product and service scope includes mutual funds and other collective investment vehicles, wealth-management solutions, insurance products, advisory and distribution services, private-market and alternative-investment strategies, and investment-banking or fintech initiatives. In alternative investments, it created Azimut Libera Impresa SGR and later established Azimut Alternative Capital Partners in the United States to develop partnerships with specialist alternative-asset managers. Sustainability is also part of the group’s investment-product development. The reference material notes that Azimut launched an SRI-oriented fund in 1993, an ESG-compliant UCITS fund investing in hybrid bonds in 2015, and signed the UN Principles for Responsible Investment in 2020. It has also supported or participated in initiatives related to the Carbon Disclosure Project and the Forum for Sustainable Finance. As of June 2024, assets in products promoting ESG characteristics were approximately €19.2 billion. As of the end of July 2024, the group reported total assets of €103.4 billion. The group’s total net inflows for 2022 were reported at €8.5 billion, of which about €4.3 billion went into asset-management products.

Azimut Holding emerged from an asset-management initiative created under the Azimut name within Akros Finanziaria in the late 1980s. The group’s subsequent development is associated with a project launched in 1990 after Pietro Giuliani joined the organization. In 1998, Bipop-Carire acquired Azimut, bringing the business into a larger banking group. The restructuring of Bipop-Carire created the conditions for a change in ownership. In 2001, Azimut bought the company back with the support of Apax Partners. The management buyout was completed in June 2002, with approximately 700 people participating. Around the same period, regional distribution businesses were consolidated into Azimut Consulenza SIM, later known as Azimut Capital Management SGR. This period established the basis for Azimut’s subsequent identity as an independent financial group rather than a unit of a commercial bank. Azimut Holding S.p.A. completed its public-market transition when it was listed on the Milan Stock Exchange on 7 July 2004. The group also broadened its business beyond conventional asset management. AzLife, later renamed Azimut Life, was established in Ireland to provide insurance capabilities, while hedge-management activity began in Italy. At the end of the 1990s, the Luxembourg management business of AzFund, now Azimut Investments, had also begun developing the group’s cross-border investment platform. A major strategic phase began in 2010, when Azimut’s stock entered the FTSE MIB index and the group intensified its international development. Between late 2010 and 2011, it established or expanded operations in Shanghai, Hong Kong and Turkey and strengthened its European presence in Munich and Switzerland. In 2013, it entered Taiwan, Brazil and Singapore. Mexico followed in 2014 through the group’s first acquisition there, while Australia was added to the operating footprint during the same year. Azimut also began developing a dedicated platform for alternative investments and private markets, later formalized through Azimut Libera Impresa SGR. The international network continued to grow. Azimut entered Chile in 2015 and the United States, through Miami, in 2016. In 2018, it established a presence in the United Arab Emirates, followed by Egypt in 2019. That year it also launched Azimut Alternative Capital Partners in the United States, intended to create partnerships with specialist managers in alternative investments. Portugal was added to the group’s network in 2022. Investment sustainability became another element of the group’s product strategy. Azimut’s reference history identifies an SRI-oriented fund launched in 1993, an ESG-compliant UCITS fund investing in hybrid bonds introduced in 2015, and the group’s signature of the UN Principles for Responsible Investment in 2020. Azimut has also supported or participated in initiatives including the Carbon Disclosure Project and the Forum for Sustainable Finance. By June 2024, assets in products promoting ESG characteristics were reported at €19.2 billion. By July 2024, Azimut described a global group active across asset management, wealth management, investment banking and fintech, with companies operating in numerous countries. Total assets stood at €103.4 billion at the end of that month. The group therefore represents a transition from a primarily Italian investment-management operation into a listed, internationally distributed platform combining fund management, advice, insurance, alternative investments and related financial services.

• 2022

  Entry into Portugal

  [1]Azimut Holdingen.wikipedia.org

  Azimut opened an office in Portugal.

• 2020

  UN Principles for Responsible Investment signed

  [1]Azimut Holdingen.wikipedia.org

  Azimut signed the United Nations Principles for Responsible Investment.

• 2019

  Azimut Alternative Capital Partners established

  [1]Azimut Holdingen.wikipedia.org

  The group created its US-based alternative-investment partnership platform.

• 2014

  Entry into Mexico and Australia

  [1]Azimut Holdingen.wikipedia.org

  The group completed its first acquisition in Mexico and entered the Australian market.

• 2010

  FTSE MIB inclusion and international expansion

  [1]Azimut Holdingen.wikipedia.org

  Azimut entered the FTSE MIB index and began a major international-expansion phase.

• 2004

  Milan Stock Exchange listing

  [1]Azimut Holdingen.wikipedia.org

  Azimut Holding S.p.A. was listed on the Milan Stock Exchange on 7 July.

• 2002

  Management buyout completed

  [1]Azimut Holdingen.wikipedia.org

  The management buyout was completed in June, with approximately 700 people participating.

• 2001

  Azimut buyout process began

  [1]Azimut Holdingen.wikipedia.org

  During Bipop-Carire’s restructuring, Azimut bought the company with support from Apax Partners.

• 1998

  Bipop-Carire acquired Azimut

  [1]Azimut Holdingen.wikipedia.org

  Azimut became part of Bipop-Carire.

• 1990

  Group-building project initiated

  [1]Azimut Holdingen.wikipedia.org

  A project associated with the modern Azimut group developed after Pietro Giuliani joined the organization.

An independent, internationally diversified asset-management and wealth-management group combining proprietary investment products, financial distribution, advisory services and partnerships in alternative investments.

• Asset management

  Azimut Investments

  Azimut Investments is the group’s Luxembourg-based investment-management platform, developed from the earlier AzFund activity. It supports the group’s cross-border fund-management and distribution capabilities and forms part of the wider product architecture offered to private and corporate clients.

• Insurance and investment products

  Azimut Life

  Azimut Life is the group’s insurance company established in Ireland under the earlier AzLife name. It extends Azimut’s offering beyond investment funds into insurance-related and investment-linked solutions distributed through the group’s broader financial-services network.

• Wealth management and distribution

  Azimut Capital Management SGR

  Azimut Capital Management SGR is the successor to Azimut Consulenza SIM, created through the consolidation of regional distribution companies. It represents the group’s Italian advisory, wealth-management and distribution activity, connecting clients with investment and financial products.

• Alternative investments

  Azimut Libera Impresa SGR

  Azimut Libera Impresa SGR is a dedicated company for alternative investments and private markets. Its creation reflects the group’s strategy of complementing traditional asset management with exposure to private-market opportunities and specialist investment structures.

• Alternative-asset partnerships · 2019

  Azimut Alternative Capital Partners

  Azimut Alternative Capital Partners is a United States-based platform created to build partnerships with investment managers specializing in alternative assets. It supports the group’s international strategy in private markets and other non-traditional investment sectors.

• 2019

  Creation of Azimut Alternative Capital PartnersStrategy

  Background

  The group aimed to deepen its capabilities in alternative investments through collaboration with specialist managers.

  Action taken

  Azimut established Azimut Alternative Capital Partners in the United States to develop partnerships with alternative-investment management companies.

  Aftermath

  The initiative strengthened the group’s international platform for alternative-asset partnerships.

  Source

• 2014

  Move into alternative investments and private marketsStrategy

  Background

  Azimut sought to broaden its investment proposition beyond traditional asset-management products.

  Action taken

  The group launched a project focused on alternative investments and private markets, later creating Azimut Libera Impresa SGR.

  Aftermath

  Alternative investments became an established component of Azimut’s business development and product strategy.

  Source

• 2010

  International expansion strategyStrategy

  Background

  After establishing its Italian asset-management base and becoming publicly listed, Azimut sought to diversify its geographic reach.

  Action taken

  The group began expanding internationally, opening or strengthening operations across Asia, Europe and later the Americas, Australia, the Middle East and Africa.

  Aftermath

  The strategy produced an operating network spanning multiple regions and made international activity a central part of the group’s business model.

  Source

• 2001

  Buyout of Azimut during Bipop-Carire restructuringM&A

  Background

  The restructuring of Bipop-Carire created an opportunity for Azimut to separate from its banking-group ownership.

  Action taken

  Azimut bought the company with financial support from Apax Partners, leading to a management buyout completed in June 2002.

  Aftermath

  The transaction established the independent ownership structure that underpinned Azimut Holding’s later development and public listing.

  Source

1. 1Azimut Holdingen.wikipedia.org