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Azimut S p A : grows in the Private Markets sector by acquiring a stake in Sanctum Altriarch Investment Management, specialized in the innovative Venture Debt asset class and based out of the Silicon Valley


Azimut grows in the Private Markets sector by acquiring a stake in Sanctum Altriarch Investment Management, specialized in the innovative Venture Debt asset class and based out of the Silicon Valley

Total Private Markets AuM managed by AACP’s affiliates reaches $ 17 billion

New York / Palo Alto / Milan / Charleston, December 13th, 2022

Azimut Group (“Azimut” or the “Group”), one of Europe’s largest independent asset managers, via its US subsidiary Azimut Alternative Capital Partners, LLC (“AACP”), entered into agreements to acquire a minority equity interest in Sanctum Altriarch Investment Management and certain affiliated entities (together, “Sanctum Altriarch“), an emerging, diverse venture lending firm based in Palo Alto, CA and

Charleston, SC.

Formed in 2022, Sanctum Altriarch is an emerging, diverse private credit firm focused on making senior secured and subordinated loans of $10-50 mln to venture-backed technology companies with enterprise values of $50 mln to $1 bn. Venture lending continues to be an underserved and undermarketed segment of private credit and presents a significant opportunity for growth in today’s markets.

The firm is led by Shant Sood, Ash Vaidya and Danielle Brown, who bring decades of relevant experience to their respective roles. Investment activities are led by Ash and Shant who have invested in this asset class over multiple cycles at four major vending lending firms including Hercules, Triplepoint, Wellington and Comdisco. They together have over 40 years of venture lending, investment banking, and technology operating experience. Danielle, whose 20-year career has spanned operations, investments, and client development will guide Sanctum Altriarch’s non-investment activities. Prior to launching Sanctum Altriarch, Danielle was a Managing Director at Dyal Capital Partners overseeing strategic efforts at underlying portfolio companies.

The transaction entails AACP acquiring a ca. 12.5% equity interest in Sanctum Altriarch via a contribution to the growing firm’s working capital and an anchor commitment to its first fund. The transaction proceeds will be used for operating expenses and to establish the highest standards for institutional investors from day one and to set the firm up for long-termgrowth and success.

Giorgio Medda, Chief Executive Officer and Global Head of Asset Management & Fintech of Azimut Group, comments: “The investment in Sanctum Altriarch demonstrates the Group’s ability to develop its platform of private market affiliates in the US, also seizing new opportunities in this particular stage of the market cycle while creating unique and deeply diversified client portfolios. Furthermore, this transaction allows the Group to have for the first time a presence in the Silicon Valley, with a fast-growingasset class that represents an alternative financing tool to traditional venture capital in the technology sector.”

Sanctum Altriarch’s Managing Partners issued the following statement: “We are appreciative of our new partnership with Azimut and Jeff Brown, and the substantial trust and investment they have placed in us. Azimut’s reputation throughout Europe lends immediate credibility to the business we are building, and we are looking forward to many years of partnership. Azimut’s investment validates our strategy of investing in companies that build mission critical technologies with long-term,patient and flexible capital.”

Jeff Brown, Chief Executive Officer of AACP, comments: “Azimut is proud to partner with the Sanctum Altriarch team to bring a high-qualityventure debt investment opportunity to our global clients. It is especially gratifying to be reunited with my former Dyal partner Danielle Brown.”

Azimut, established in 1989 and headquartered in Milan, Italy, has ca. $87 billion in total AUM. The Group operates in three key segments: Public Markets, Private Markets and Emerging Markets. It operates out of 18 countries in three regions around the world, including the Americas (New York, Miami, Indianapolis, Sao Paolo, Mexico City, Santiago), EMEA (Milan, Monte Carlo, Lugano, Luxembourg, Dublin, Istanbul, Dubai, Abu Dhabi, Cairo, Lisbon) and Asia-Pacific (Shanghai, Hong Kong, Taipei, Singapore and Sydney). Through a business model that integrates production and distribution, Azimut’s network now encompasses over 3,000 professionals, of which ca. 170 are Portfolio Managers & Analysts and ca. 2,500 are Financial Advisors primarily serving Azimut’s retail and high-net-worth client base.


Azimut is one of Europe’s leading independent groups active (since 1989) in the asset management sector. The parent company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and is a member, among others, of the main Italian index FTSE MIB. The shareholder structure includes over 1,900 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 mainly 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.

Sanctum Altriarch Investment Management, LLC (“Sanctum Altriarch”) is an emerging, diverse, private credit investment manager based in Charleston, SC and Palo Alto, CA. Led by Danielle Brown, Ash Vaidya and Shant Sood the firm focuses on lending to mid-to-late-stage technology companies with at least $10 million in annual recurring revenue.

Contacts – Azimut Holding S.p.A.

Investor Relations

Media Relations

Alex Soppera, Ph.D.

Maria Laura Sisti (Esclapon & Co.)

Tel. +39 02 8898 5617

Tel. +39 347 42 82 170



Vittorio Pracca

Viviana Merotto

Tel: +1 929 909 6717

Tel. +39 338 74 96 248



David Press (Confluence Partners)

Tel. +1 917 721 7046


Contacts – Sanctum Altriarch

Danielle Brown

Tel. +1 704-607-8840



Azimut Holding S.p.A. published this content on 13 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2022 14:04:03 UTC.

Publicnow 2022

All news about AZIMUT HOLDING S.P.A.

Sales 2022 1 283 M
1 366 M
1 366 M
Net income 2022 380 M
405 M
405 M
Net cash 2022 408 M
434 M
434 M
P/E ratio 2022 7,40x
Yield 2022 6,99%
Capitalization 2 814 M
2 996 M
2 996 M
EV / Sales 2022 1,88x
EV / Sales 2023 1,69x
Nbr of Employees 1 450
Free-Float 82,9%


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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 19,88 €
Average target price 22,32 €
Spread / Average Target 12,3%

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