Italian asset manager Azimut announced its entry into the Moroccan market by acquiring minority stakes in two Red Med Capital subsidiaries. Azimut acquired a 29% stake in Red Med Asset Management, with assets under management valued at approximately 18 billion Moroccan dirham ($1.88 billion), and a 25% stake in Red Med Securities, a firm holding a 4.4% market share and specializing in capital market transactions, IPOs, and securities trading. This move aligns with Azimut’s expansion strategy in a market overseeing over 61 billion euros in assets as of December 2024.
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