The target’s David Moross and Mark Bezos (the brother of Amazon founder Jeff Bezos) aumenteranno le loro quote e assumeranno incarichi strategici nel gruppo italiano
Milan-listed independent asset and wealth manager Azimut rose to 56% its 15% in US private equity and venture firm HighPost Capital through its subsidiary Azimut Alternative Capital Partners (press release).
David Moross and Mark Bezos, the brother of Amazon head Jeff Bezos, are the founders of HighPost. In 2023, Azimut increased its stak in the US firm to 15% (see here a previous post by BeBeez), while in 2021 it purchased a 12.5% through the subscription of a capital increase (see here a previous post by BeBeez).
Azimut will buy the majority of HighPost while supporting the founders for the target’s future growth. The transaction structure is a mix of put and call agreements as well as primary and secondary investments whose 50% will be in the form of Azimut Holding shares swap that will allow Moross and Bezos to increase their interest in the head company.
Gibson, Dunn & Crutcher assisted HighPost Capital while Azimut retained Sidley Austin.
Moross and Bezos said: “We look forward to the future expansion of HighPost and Azimut in the US private markets as we can generate value for our current and future clients. Our portfolio companies and our ability to originate new transactions will further benefit from Azimut’s extensive resources and strong global platform”.
Moross will keep his role as HighPost ceo and become a senior advisor of Azimut Alternative Capital Partners with which he will share his know-how in the private markets sector. Bezos will act as head of strategic partnership and as board directorof Azimut US Holdings, a vehicle that has aum worth in the region of 50 billion US Dollars. Bezos will gain access to Azimut’s B2B2C platforms for alternative investments, club deals, direct investments, wealth and asset management solutions. The Italian company said: “Bezos network and cross-functional expertise in marketing, sports, consumer goods, aerospace and technology will be key levers to support and expand Azimut’s growth in different market verticals.”.
HighPost Capital aums amount to 644 million that allocated in private equity buyout HighPost I (see here a previous post by BeBeez) and venture HIPstr I which targets tech and consumer businesses. The portfolio of these two vehicles includes Spotter, Magic Spoon, RAD, and Closer.
Giorgio Medda, the ceo of Gruppo Azimut, added: “This agreement is a natural and strategic evolution of our partnership with David and Mark. We partnered with HighPost since its birth as a significant number of our clients invested in their funds. Strengthening the relationship at this stage is a logical step, as well as a testament to our shared objectives. We are also excited to welcome David and Mark in their new roles within the Azimut Group. Azimut is taking a keen commitment to growing in the alternative investment sector, which can now count on a team of top professionals with deep knowledge of the US private equity and venture capital markets. Finally, I am particularly pleased to see the Moross and Bezos families, through David and Mark, increase their stake in Azimut Holding”.
In 2022, Azimut Alternative Capital Partners said it acquired a 12.5% of Sanctum Altriarch Investment Management, a Silicon Valley for the innovative venture debt asset class based, through the subscription to a capital increase (see here a previous post by BeBeez).
In Julay 2022, Azimut Alternative Capital Partners (AACP) acquired 20% of RoundShield Partners, an European independent private markets investor (see here a previous post by BeBeez). In April 2022 the Italian firm purchased a 10% of BroadLight Holdings, a private equity house that targets investments in high-growth and innovative companies in the technology and consumer sectors (see here a previous post by BeBeez). In July 2021 AACP both a 20% of Pathlight Capital, a Boston-based private credit firm that provides asset-based loans (see here a previous post by BeBeez). In July 2020, Azimut Alternative Capital Partners signed a 60 million agreement for acquiring a 20% of Kennedy Lewis Investment Management, an event-driven credit situation that sold in April 2024 to Goldman Sachs Asset Management for 225 million in cash (press release).
