AZ Next Generation Advisory (“AZ NGA” or the “Group”), a professional advisory firm, has entered a strategic growth partnership with funds managed by Oaktree Capital Management L.P., (“Oaktree”), a leading global investment management firm specialising in alternative investments, to support the Group’s ambitious growth plans. As part of this agreement, Oaktree will invest A$240 million and become the largest shareholder of AZ NGA, while Azimut Group (“Azimut”), Management and current shareholders will continue to retain a strategic stake in the Company.

AZ NGA strategically invests in leading financial planning and accounting businesses with the goal of fostering growth and enhancing operational efficiencies to deliver superior services to clients. AZ NGA’s network of 34 partner firms, including financial advice and accounting businesses and a number of service providers to the financial services industry, collectively manages $15.1bn of assets under advice as of 31 August 2024. Through this partnership, AZ NGA, Azimut and Oaktree will work together to accelerate acquisition and integration activity and enhance AZ NGA’s position as the growth and succession partner of choice for financial advisory and accounting firms in Australia.

“We are excited to work with a world class strategic investor like Oaktree as we execute our strategy and deliver on our promise to our people, community and clients,” said Paul Barrett, AZ NGA Chief Executive Officer. “With strong momentum to-date and an attractive pipeline of M&A opportunities, AZ NGA is strongly positioned for accelerated growth alongside Azimut and Oaktree.”

Massimo Guiati, Chief Executive Officer, Azimut Holding and AZ NGA Chairman said: “Azimut is committed to AZ NGA and the Australian market for the long-term. This transaction brings AZ NGA a step closer to achieving its vision of being Australia’s leading professional advisory firm, and we look forward to working with Oaktree to continue supporting AZ NGA in its next chapter of growth.”

Byron Beath, Managing Director at Oaktree comments: “AZ NGA and the leadership team have established themselves as the growth and succession partner of choice for high performing financial planning and accounting firms. Oaktree has invested in financial services platforms globally, such as Ascot Lloyd and Atomos, and we look forward to enhancing AZ NGA’s strong market position and sharing Oaktree’s seasoned investment philosophies to deliver even greater value to AZ NGA’s retail and wholesale clients. We will work together to achieve our shared vision of AZ NGA as Australia’s leading consumer financial services advisory firm.”

Co-Portfolio Managers of Oaktree’s Special Situations Strategy, Matt Wilson and Jordon Kruse added “We are extremely excited to be part of this next stage of growth for AZ NGA and we look forward to partnering with Azimut, Paul and the entire AZ NGA network to fuel AZ NGA’s further expansion through our global experience, resources and network.”

The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals.

Azimut and AZ NGA are being advised by Jefferies Australia as financial adviser and Corrs as legal adviser on the transaction.

Oaktree is being advised by Jarden as financial adviser and Clifford Chance as legal adviser on the transaction.

Please see Azimut Group release here.

For more information, please contact:

Leng Ohlsson

Principal, Splash Content

M: 0409 509 516

E: leng@splashcontent.com.au

About AZ NGA

AZ NGA was established in 2014 to build a formidable integrated financial planning advisory and accounting group.

The group’s objective is to be a partner of choice for entrepreneurial business owners to achieve their growth and succession goals.

The firm targets specialist financial planning advisory and accounting firms looking for a minority shareholder, strategic partner, wanting to merge or seeking an outright sale.

 About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $193 billion in assets under management as of June 30, 2024. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 23 cities worldwide.

For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

 About Azimut

Azimut is an independent, global group in the asset management, wealth management, investment banking and fintech space, serving private and corporate clients. A public company listed on the Milan Stock Exchange (AZM.IM), the group is a leader in Italy and active in 18 countries around the world, with a focus on emerging markets. The shareholder structure includes around 2,000 managers, employees and financial advisors bound by a shareholders’ agreement that controls ca. 22% of the company. The remaining is free float. The Group comprises various companies active in the sale, management, and distribution of financial and insurance products, with registered offices in Italy, Australia, Brazil, Chile, China (Hong Kong and Shanghai), Egypt, Ireland, Luxembourg, Mexico, Monaco, Portugal, Singapore, Switzerland, Taiwan, Turkey, UAE, and USA. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as being active in the discretionary management of individual investment portfolios. Furthermore, Azimut Capital Management SGR distributes Group and third-party products in Italy via a network of financial advisors while Azimut Libera Impresa focuses on the alternatives business. The main foreign companies are Azimut Investments SA (founded in Luxembourg in 1999), which manages the multi strategy funds AZ Fund 1 and AZ Multi Asset, and the Irish Azimut Life DAC, which offers life insurance products.