Italy’s Azimut expands into Morocco with stakes in Red Med Capital Units

Italian asset manager Azimut announced its entry into the Moroccan market by acquiring minority stakes in two Red Med Capital subsidiaries. Azimut acquired a 29% stake in Red Med Asset Management, with assets under management valued at approximately 18 billion Moroccan dirham ($1.88 billion), and a 25% stake in Red Med Securities, a firm holding a 4.4% market share and specializing in capital market transactions, IPOs, and securities trading. This move aligns with Azimut’s expansion strategy in a market overseeing over 61 billion euros in assets as of December 2024.