Azimut Group, a European asset manager, via its US subsidiary Azimut Alternative Capital Partners, is acquiring a minority equity interest in BroadLight Holdings, a private equity investment firm.

BroadLight is a private equity investment firm founded in 2021 by partners David Dorfman, who has over 21 years of investment and merchant banking experience, Rick Yorn, the CEO of LBI Entertainment, and Kevin Yorn, the managing partner of Yorn Levine. BroadLight is a private equity investment firm focused on high-growth, innovative companies across the global technology and consumer landscape.

AACP partners with alternative asset managers and provides them with permanent capital to grow. Azimut has $90 billion in total AUM and operates in three key segments: Public Markets, Private Markets and Emerging Markets.

BroadLight’s managing partner David Dorfman said, “The partnership with Azimut provides an opportunity for BroadLight to further accelerate its growth and pursue attractive investment opportunities globally. Over the past few months, we have been able to get to know the senior Azimut and AACP teams in Italy, Luxembourg, and the United States and have been impressed by their unwavering focus on their clients and shareholders.”

Kirkland & Ellis LLP served as legal counsel to BroadLight and Sidley Austin LLP served as legal counsel to AACP.