Mark Bezos’s Investment Firm Sells Controlling Stake to Azimut

Azimut Holding SpA took a controlling stake in Mark Bezos’s fund as the Italian asset manager seeks to expand in the alternative investment sector.

Azimut boosted its holding in HighPost Capital LLC to 56% from 15% via its US subsidiary, it said in a statement on Wednesday. As part of the deal, Bezos and HighPost’s co-founder David Moross will increase their stake in the Italian company, Azimut said.

Bezos, the younger brother of Jeff Bezos and one of Amazon Inc.’s early backers, will join the board of Azimut US Holdings, a unit of the Italian asset which ...