(Finance) – The Group Azimuth recorded in the month of May 2024 one net collection of 6.9 billion euros. This figure includes 6.1 billion deriving from the already announced acquisition of tru Independencean advisory services provider based in Portland, Oregon, with total assets of $12.5 billion from Sanctuary Wealth, in which Azimut Group holds a 53.37% stake.
With this result, total net collections since the beginning of the year rise to 9 billion, thus exceeding the target of over 7 billion for the entire year, also thanks to partnerships, after just five months. The total assets under management they stood at 62 billion and, including managed assets, at the end of May they reached a new record of 100.5 billion.
“There organic managed collection in May it exceeded 500 million euros, marking another strong month both for our investment products and solutions in Italy and globally, also thanks to the positive trend in Brazil – he commented Gabriele Blei, CEO of the Group – Furthermore, the acquisition of tru Independence by Sanctuary Wealth and the constant demand since the beginning of the year have allowed us to exceed our annual target of over €7 billion in net inflows in just five months.”
“Finally, ours continues growth path in private markets which led at the beginning of June to the first closing of the senior private debt fund Azimut Diversified Corporate Credit ESG-8 SCSp RAIF, dedicated to supporting the growth of Italian companies that follow the principles of sustainability – he added – This first closing, which will be included with the June collection, it obtained subscription commitments for a total of 126 million euros and aroused the interest of several institutional subscribers, with a second closing expected by the end of 2024″.