Azimut acquires control of Knox Capital and reaches over R$ 20 billion under management.

The Italian group Azimut has acquired control of the investment advisory firm Knox Capital, which has approximately R$7 billion under management. This move is another step in Azimut's strategy to grow in the Brazilian wealth management market, bringing its portfolio to over R$20 billion under advisory and management.

Following the transaction, Azimut will hold 50% plus one share, and Knox Capital, which is linked to XP, will operate under the Azimut Knox brand. The value of the transaction was not disclosed. The controlling shareholders of the company will continue to lead the day-to-day operations under the new brand, with their team of approximately 40 professionals.

“We were looking for a team of people who would bring quality and who would fit with our model of serving high-net-worth individuals,” says Wilson Barcellos, CEO of Azimut Brasil Wealth Management, to NeoFeed .

Founded in 2021 by five partners with experience in private banking, Knox Capital has grown rapidly through a combination of organic growth and selective acquisitions.

The company focuses on serving Private and Ultra High Net Worth clients. Its service offerings include investment advisory, discretionary and non-discretionary mandates, estate planning, corporate advisory, credit structuring, capital markets, and mergers and acquisitions support.

For Knox Capital, joining the Azimut Group strengthens its performance in managing large fortunes, mainly through the use of Azimut's global and local investment capabilities and products, such as equity, fixed income and allocation solutions, and the development of discretionary portfolio management in Brazil.

Azimut Brasil has had a strategic partnership with XP since 2021 for the use of its investment platform and has been betting on organic and inorganic growth to gain traction in the market.

Over the past 12 years, the group, combining its asset management and wealth management divisions, has grown 36% in assets under management, reaching €7.6 billion in Brazil (approximately R$49 billion), making Brazil the third largest country in assets under management among the 20 in which it operates.

Azimut Brasil intends to continue its growth strategy in 2026, and other acquisitions are in the pipeline.