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Alternative Market Briefing

Azimut Alternative Capital Partners acquires 20% stake in European manager RoundShield Partners

Monday, August 01, 2022

Laxman Pai, Opalesque Asia:

European asset management firm Azimut Group said that its subsidiary Azimut Alternative Capital Partners (AACP), has acquired an approximate 20% equity interest in U.K.-based asset manager RoundShield Partners.

Azimut Group has € 81 billion in Total AuM. RoundShield Partners is a European special opportunities investment firm with offices in Jersey, London, Geneva, Madrid, Paris, and Luxembourg. As of July 2022, the firm has exited 128 assets and fully realized sixteen debt facilities with a weighted average gross IRR of 23% and a multiple of 1.6x.

The Eversource Energy Retirement Plan, AACP's first strategic limited partner, also participated in the transaction through its capital commitment to an investment fund managed by AACP. Inclusive of this new transaction, the total Private Markets AuM managed by AACP affiliates is now $16 billion ($3 billion pro-rata for AACP).

According to a press release from the Milan-based asset manager, the transaction entails acquiring a ca. 20% equity interest in RoundShield and contributing permanent capital to the business going forward.

Substantially all of the after-tax proceeds will be used by RoundShield's partners to invest in future Firm-sponsored funds, bolstering the Firm's commitment to align itself with its investors and drive the long-term growth of the business. There will be no changes in the strategy, management, investment process, or day-to-day operations of RoundShield or any Roun......................

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