Doha – The Italian asset management company Azimut Holding has entered the Moroccan market through strategic proportions of minorities in two subsidiaries of Red Med Capital, one of the leading independent investment banks.
According to Borsa Italiana, the transaction contains Azimut takes over 29% of Red Med Asset Management and 25% participation in Red Med Securities and marks his first entry into the Moroccan financial sector.
The deal takes place when the asset management industry in Morocco is anchored by over € 61 billion (65.98 billion US dollars) from December 2024.
Red Med Capital with headquarters in Rabat since its foundation in 2004 in five key areas: asset management, brokerage & custody, corporate financing, Private equityand real estate.
Red Med Asset Management, one of the units acquired, manages assets in assets around $ 18 billion ($ 1.88 billion) and has a market share of 3% as one of the largest independent asset managers in Morocco.
Since the end of 2017, the company has built up and recorded an average annual growth of 30% in terms of assets in assets.
The business arm of the business of the business, Red Med Securities, has won on the ground, with the proportion of 2.3% rose to 4.4% in 2024 in 2023. The unit specializes in investment solutions, including capital market transactions, IPOS and securities trading.
“The partnership with Red Med Capital, an established local guide with a similar way of thinking, enables us to combine our global expertise and proven track record with their deep knowledge of the Moroccan financial landscape,” said Giorgio Medda, CEO of Azimut Holding.
He added that “this transaction is another milestone in our wider international strategy and increases our ambitation to achieve more than 50% of our entire activities outside of Italy through strategic expansion and a strong underlying organic growth”.
No party announced the financial conditions of the transaction.
