(Finance) – Azimuth reported in the first half a consolidated net profit of 201.7 million eurosup from 194.1 million in the first half of 2021.
THE revenues consolidated have led to 666.2 million, up 18% compared to the 566.4 million of the previous year, benefiting from the strong growth in AuM and Total Assets, mainly attributable to the 21% increase in recurring management fees, which amounted to 552.3 million. Consolidated operating income amounted to € 276 million (compared to € 232.8 million in 2021).
The total assets managed at the end of June 2022 reaches 52.1 billion, while the figure including assets administered and managed by third parties directly placed reaches 81.2 billion (+ 7%). The average total assets grew by 19% compared to the previous year and stood at 82.6 billion euros. In the segment Private MarketsAzimut continued its strong growth path with AuM which exceeded 6 billion in July 2022, also thanks to the latest acquisition of a minority stake in RoundShield Partners.
2022 goals reconfirmed which aim for at least € 400 million in net income and € 6-8 billion in net inflows.
Azimut announced today that it has acquiredthrough its US subsidiary Azimut Alternative Capital Partners, a approximately 20% stake in RoundShield Partners, one of the leading independent European private markets firms. Founded in 2013 and with around 2.9 billion AUM, RoundShield invests in European asset-backed special opportunities, mainly in the real estate and infrastructure segments.