AZ Next Generation Advisory (AZ NGA) and Azimut have completed the sale of a majority interest in AZ NGA to funds managed by Oaktree Capital Management L.P, (“Oaktree”).

As part of the transaction, which was previously announced on September 30, 2024:
– Oaktree has invested $240 million in AZ NGA to become the group’s largest shareholder.
– Azimut, management and business owners retain a strategic stake in the company.
– AZ NGA, Azimut and Oaktree are committed to working together to accelerate M&A activity, drive organic growth and cement AZ NGA’s position as Australia’s finest professional services company.

Paul Barrett, AZ NGA Chief Executive Officer, said: “We are extremely privileged and excited to work with a world class strategic investor like Oaktree.”

“We have ambitious goals to triple in size over the 3-5 years, through a combination of M&A and organic growth, and our strategic partnership with Oaktree gives us the capital to fund our short-to-medium term plans and continue enhancing our proposition to accounting and advice businesses.”

“In the next 12 months, our focus is on accelerating our Super firm program, ramping up M&A activity, key transformation initiatives and continuing to elevate to a high-performance culture.”

Byron Beath, Oaktree Managing Director, said: “AZ NGA has successfully enabled business owners and their clients to simultaneously grow their practices while effectively managing ownership succession, which is critical for the natural evolution of quality businesses. This achievement is a testament to the exceptional leadership of Paul and his team. By providing additional capital through this transaction, AZ NGA will further enhance their ability to execute on their plan of organic and inorganic growth, empowering their talented staff to be the national leader of providing financial advice and services.”

Massimo Guiati, Azimut Holding Chief Executive Officer and AZ NGA Chairman, said: “Azimut is committed to AZ NGA for the long-term and we look forward to working with Oaktree to drive the growth and success of AZ NGA.”

For more information, please contact:

Leng Ohlsson
Principal, Splash Content
M: 0409 509 516
E: leng@splashcontent.com.au

About AZ NGA
Established in 2014, AZ NGA is a leading Australian professional services company.
The group partners with high quality financial advisory and accounting firms accelerate growth, both organically and through M&A and drive efficiencies.
AZ NGA is backed by global investment management businesses, Azimut and Oaktree Capital Management. The group’s unique offering combines the expertise and proven track-record of AZ NGA’s experienced team with the global scale and resources of Azimut and Oaktree.

About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, equity, and real estate. 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.