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(Reuters) -Italian asset manager Azimut Holding said on Tuesday it had agreed to buy a minority stake in HighPost Capital, a U.S. private equity firm partially owned by the Bezos family.
Under the deal, Azimut, via its U.S. unit Alternative Capital Partners LLC (AACP), will buy through a capital increase an initial 12.5% in consumer-focused HighPost, with the opportunity to increase its ownership to 24.9% over time.
The entire transaction proceeds will be used to grow and invest in the business in the form of working and growth capital, the companies said in a joint statement.
HighPost, formed in 2019 by Mark Bezos, the brother of Amazon founder Jeff Bezos, and David Moross, focuses on opportunities with family-controlled and entrepreneur-led companies.
Its strategy, management and day-to-day operations will not change as a result of the AACP investment, Azimut added.
Azimut shares were up 0.3% by 1105 GMT, compared with a 0.6% fall in Milan’s all-share index.
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