Azimut Expands to 56% Stake in HighPost Capital

Azimut Group, one of Europe's leading independent asset and wealth managers, has increased its stake in HighPost Capital, LLC from 15% to 56% through its American subsidiary, Azimut Alternative Capital Partners LLC (AACP). This strategic acquisition allows Azimut to control HighPost, reflecting an effort to strengthen their partnership and collaborative efforts. The transaction involved both primary and secondary investments, with 50% of the secondary investment paid in Azimut Holding shares. HighPost's founders, David Moross and Mark Bezos, have significantly increased their stake in Azimut. The transaction includes put/call options and is subject to customary conditions. Moross remains CEO and becomes a senior advisor at AACP, while Bezos takes on roles related to strategic partnerships at Azimut US Holdings. Gibson, Dunn & Crutcher LLP served as legal advisors to HighPost, and Sidley Austin LLP assisted Azimut. AACP initially acquired a minority stake in HighPost in March 2021. HighPost, founded in 2019, manages $644 million through its private equity and venture capital funds, focusing on consumer and technology sectors. This deal affirms Azimut's commitment to growing in alternative investments, leveraging its presence in the US private equity and venture capital markets.