Key Takeaways
- • Lazard acquired private equity advisory firm Campbell Lutyens for $575 million in cash consideration, with up to $85 million in additional performance-based payments over multiple years.
- • The deal creates Lazard CL, a new third global business division combining Lazard's existing private capital advisory group with Campbell Lutyens' capabilities across fundraising, secondary advisory, and capital advisory services.
- • Lazard CL will serve clients across infrastructure, private credit, private equity, and real estate, offering advisory services across the full capital lifecycle from formation through liquidity and strategic alternatives.
- • The combined entity will be co-led by Holcombe Green (global head of private capital advisory at Lazard) and Gordon Bajnai (current CEO of Campbell Lutyens), leveraging combined proprietary datasets.
- • Lazard projects the transaction to be accretive to earnings starting in 2027, aligning with the firm's "Lazard 2030" strategic roadmap.
Summary
Investment bank Lazard announced on April 30 its agreement to acquire Campbell Lutyens, a private equity advisory firm, for approximately $575 million in total consideration. The transaction includes a base payment of $575 million with potential additional consideration of up to $85 million based on defined performance criteria measured over a multi-year period.
The acquisition creates Lazard CL, designated as the investment bank's third global business unit. The new division merges Lazard's existing private capital advisory group with Campbell Lutyens' operations to establish a comprehensive platform serving the alternative asset management sector. Lazard CL will operate across four primary asset classes—infrastructure, private credit, private equity, and real estate—offering a full spectrum of advisory services including fundraising support, secondary advisory, and capital advisory services.
The combined entity will be jointly led by Holcombe Green, who serves as global head of private capital advisory at Lazard, and Gordon Bajnai, the incumbent CEO of Campbell Lutyens. According to Lazard, the new unit will leverage combined proprietary datasets to provide clients with advisory services spanning the complete capital lifecycle, from fund formation and capital deployment through liquidity events and strategic alternatives.
Lazard CEO Peter Orszag framed the acquisition as "another defining strategic step on the path toward Lazard 2030," signaling alignment with the firm's longer-term growth strategy. The investment bank projects the transaction to be accretive to earnings beginning in 2027 and in subsequent years, suggesting near-term integration benefits and revenue synergies from cross-selling and operational efficiencies.
The acquisition creates Lazard CL, designated as the investment bank's third global business unit. The new division merges Lazard's existing private capital advisory group with Campbell Lutyens' operations to establish a comprehensive platform serving the alternative asset management sector. Lazard CL will operate across four primary asset classes—infrastructure, private credit, private equity, and real estate—offering a full spectrum of advisory services including fundraising support, secondary advisory, and capital advisory services.
The combined entity will be jointly led by Holcombe Green, who serves as global head of private capital advisory at Lazard, and Gordon Bajnai, the incumbent CEO of Campbell Lutyens. According to Lazard, the new unit will leverage combined proprietary datasets to provide clients with advisory services spanning the complete capital lifecycle, from fund formation and capital deployment through liquidity events and strategic alternatives.
Lazard CEO Peter Orszag framed the acquisition as "another defining strategic step on the path toward Lazard 2030," signaling alignment with the firm's longer-term growth strategy. The investment bank projects the transaction to be accretive to earnings beginning in 2027 and in subsequent years, suggesting near-term integration benefits and revenue synergies from cross-selling and operational efficiencies.
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