On November 2, 2020, Azimut Holding SpA announced that it will acquire a majority interest in Sanctuary Wealth.

Under the terms of the agreement, Azimut Holding SpA (the "Azimut Group") will acquire a 55% interest in Sanctuary Wealth ("Sanctuary") through its U.S. subsidiary, AZ US Holdings Inc. The consideration will consist of $55 million in cash. The transaction is subject to regulatory approval and is expected to close by the end of the fourth quarter of 2020.

Sanctuary, based in Indianapolis, is an independent wealth management firm. It has $12 billion in assets under management. Berkshire Global Advisors served as exclusive financial advisor to Sanctuary on the transaction.

The Azimut Group, headquartered in Milan, is a global independent investment manager. It has around 2,200 affiliated advisors globally and $67 billion in assets under management

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