Azimut to take majority stake in Brazilian wealth manager Unifinance

Core Viewpoint - Azimut Group is acquiring a majority interest in Brazil-based wealth management firm Unifinance, enhancing its market presence and targeting the ultra-high-net-worth segment [1][5]. Group 1: Acquisition Details - The acquisition will be executed through a share swap in Azimut Holding, with no upfront cash involved, and includes an earn-out structure based on growth targets [2]. - Financial terms of the deal have not been disclosed, but it aligns with Azimut's strategy to grow in strategic markets [2]. - Unifinance has assets under advisory and management exceeding 4.1 billion reais (approximately $764.2 million) as of the end of 2025 [2]. Group 2: Strategic Implications - The combination is expected to enhance client service by increasing scale, expanding product offerings, and reinforcing internal processes [3]. - Unifinance's independence, corporate culture, and investment methodology will be preserved post-transaction [3]. - The deal is subject to standard closing conditions and regulatory approvals [3]. Group 3: Integration and Future Plans - While awaiting approvals, Azimut and Unifinance will begin integration efforts, focusing on client continuity, retaining key professionals, and accelerating commercial initiatives [4]. - This acquisition follows Azimut's previous purchase of a majority stake in Knox Capital, which also targets private and ultra-high-net-worth clients [4]. - Azimut will manage approximately 60 billion reais (over €9 billion) in Brazil, solidifying its position as the third-largest market globally [6].