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Lazard has agreed to acquire private equity advisory firm Campbell Lutyens for around USD 575 million, as part of its strategy to expand in private capital advisory. The deal will lead to the creation of a new division, Lazard CL, combining capabilities across fundraising, secondary advisory, and capital advisory in sectors such as infrastructure, private credit, private equity, and real estate. The transaction also includes a potential additional payout of up to USD 85 million based on performance. The move is expected to strengthen Lazard’s long-term growth strategy and contribute positively to earnings from 2027 onward.
Investment bank Lazard has entered into an agreement to acquire private equity advisory firm Campbell Lutyens for a total consideration of about USD 575 million. The transaction is part of the firm’s broader plan to strengthen its presence in the private capital space and expand its advisory offerings globally.
Following the acquisition, Lazard will establish a new private capital advisory division named Lazard CL. This unit will combine Lazard’s existing private capital advisory business with Campbell Lutyens’ capabilities. The integrated platform will offer services including fundraising, secondary advisory, and capital advisory across sectors such as infrastructure, private credit, private equity, and real estate.
The new division will operate as Lazard’s third global business segment. It will be jointly led by Holcombe Green, who currently heads Lazard’s private capital advisory operations, and Gordon Bajnai, the existing CEO of Campbell Lutyens. The leadership structure is aimed at ensuring continuity while scaling the combined business.
Through Lazard CL, clients will receive advisory services across the entire capital lifecycle, covering fund formation, liquidity solutions, and strategic alternatives. The firm also plans to leverage combined proprietary datasets from both entities to improve insights and execution capabilities, especially in complex and large-scale transactions.
Chief Executive Officer Peter Orszag stated that the transaction represents a key strategic step aligned with the firm’s long-term growth roadmap under its Lazard 2030 plan, indicating that the deal opens up new opportunities for expansion in private capital markets.
In addition to the upfront consideration of USD 575 million, the agreement includes a provision for an additional payout of up to USD 85 million. This component will be linked to predefined performance targets over a multi-year period, reflecting a structured approach to value creation.
The acquisition is expected to contribute positively to Lazard’s earnings from 2027 onwards. The move comes at a time when global financial institutions are increasingly focusing on private capital advisory as demand for alternative investments, including real estate and infrastructure, continues to grow. Lazard has been steadily expanding its advisory platform in recent years, and this acquisition builds on its earlier efforts to strengthen its position in high-growth segments.
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