Lazard, Inc. (LAZ) a financial advisory and asset management firm, today announced that it has agreed to acquire Campbell Lutyens, a global private markets advisor, to create a new unit called Lazard CL that will serve as its third global business.
Consideration of the deal consists of initial $575 million, which is payable in part at closing and in part two years later, with portions subject to lock-up.
Up to $85 million in additional consideration may be paid based on multi-year performance criteria.
The Combined platform will focus on fund placement, secondary advisory, and GP capital advisory across infrastructure, private credit, private equity, and real estate in the U.S., Europe, the Middle East, and Asia Pacific.
Lazard Global Head of Private Capital Advisory Holcombe Green and Campbell Lutyens CEO Gordon Bajnai, will serve as Co- CEOs of Lazard CL, reporting to Lazard CEO and Chairman Peter Orszag.
The deal pairs Lazard's existing private capital advisory group with Campbell Lutyens to build the leading global private capital advisory platform, working with Lazard's M&A and broader advisory teams.
Lazard CL will offer integrated advisory services across the capital life cycle for financial sponsors, institutional investors, firms and portfolio companies, using combined proprietary datasets and Lazard's AI capabilities.
Closing of the deal is expected in calendar year 2026 pending regulatory approvals, and the transaction is expected to be accretive to 2027 earnings.
Andrew Sealey, Chairman of Campbell Lutyens, will serve as Lazard CL's non-executive Chairman, with senior leadership from both firms remaining in place.
Orszag called the deal "another defining strategic step" toward Lazard's 2030 vision, while Bajnai said the combination creates an "unparalleled global platform" and Green said it enables "end-to-end solutions" across private markets.
On the NYSE, shares of Lazard were losing 4.19 percent in overnight trading at $45.49, after closing Wednesday's regular trading 2.12 percent lower at $47.48
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