(Alliance News) - Azimut Holding SPa reported Monday that it had recorded net inflows of EUR598 million in March, bringing total net inflows since the beginning of the year to EUR1.5 billion.

Total assets including assets under administration stood at EUR95.1 billion at the end of March, of which EUR63.2 billion refer to assets under management.

Gabriele Blei - CEO of the group - commented, "We are pleased with the high-quality inflows in March, with 78 percent of the approximately EUR600 million directed toward managed solutions. In particular, we experienced solid demand for our funds and another month of strong inflows on the private markets front, thanks to the closing of a club deal in Italy and the successful founders' closing of our GP staking fund that will invest primarily in U.S. alternative managers and is dedicated primarily to institutional investors globally."

"This fund, managed by our esteemed U.S. subsidiary, Azimut Alternative Capital Partners, aims to capitalize on our track record of strategic investments in GP staking over the past four years."

"We believe that our recent exit from Kennedy Lewis Investment Management, concluded last week for $225 million to Petershill at Goldman Sachs Asset Management, further highlights our commitment and ability to generate substantial value for our investors."

Azimut on Monday trades in the green by 0.9 percent at EUR24.62 per share.

By Maurizio Carta, Alliance News reporter

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