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Lazard to Expand Private Capital Advisory With Campbell Lutyens Deal
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Key Takeaways
Lazard to acquire Campbell Lutyens, forming Lazard CL as its third global business pillar.
LAZ expects the deal to close in 2026 and be accretive to earnings starting in 2027.
Lazard CL targets $500M revenue by 2027, with 280 advisors across 18 global offices.
Lazard Inc. (LAZ - Free Report) has announced that it has entered into a definitive agreement to acquire Campbell Lutyens, a leading global private markets advisor specializing in fund placement, secondary advisory and GP capital advisory services. The move builds on Lazard’s existing private capital advisory operations.
The acquisition will lead to the formation of a new business unit, Lazard CL, which will operate as Lazard’s third global business pillar, reinforcing its strategic expansion into private capital advisory. The platform will work closely with Lazard’s mergers and acquisitions (M&A), capital markets, restructuring and liability management and broader advisory divisions to deliver integrated solutions across private markets.
The combined entity will bring together two complementary advisory platforms, strengthening Lazard’s presence in primary fundraising and secondary advisory while enhancing its ability to serve institutional investors and financial sponsors globally.
Financial Details of Lazard’s Acquisition
The total transaction consideration is approximately $575 million, payable partly at closing and partly two years after completion. Both components include portions subject to lock-up arrangements. Additionally, there is potential earnout consideration of up to $85 million based on performance targets over a multi-year period.
The transaction is expected to close in calendar year 2026, subject to regulatory approvals. Management expects the deal to be accretive to earnings in 2027 and beyond.
Key Details of Lazard CL
Lazard CL will combine the strengths of both firms to create a leading global private capital advisory platform. The combined business is expected to generate approximately $500 million in revenue by 2027.
The platform will include more than 280 advisory professionals across 18 offices worldwide, supported by a dedicated institutional distribution team of over 60 professionals. Over the past two years, the combined businesses have advised on more than 230 fee-paying mandates.
In addition, the platform has handled over $100 billion in GP and LP secondary transaction volume and raised more than $190 billion in capital for clients over the same period.
Lazard CL will provide comprehensive advisory services across the full capital life cycle, including capital formation, liquidity solutions and strategic advisory. The platform will span key asset classes such as infrastructure, private credit, private equity and real estate across major global regions, including the United States, Europe, the Middle East, and Asia Pacific. These capabilities will be delivered in close coordination with Lazard’s broader advisory platform, enabling fully integrated client solutions.
The company’s private capital advisory business has more than doubled its revenue over the past five years. As such, the formation of Lazard CL is expected to further accelerate this growth by enhancing scale, expanding global reach and strengthening its ability to deliver end-to-end private market solutions.
The integration will also leverage proprietary datasets from both firms, along with Lazard’s artificial intelligence capabilities. This is expected to enhance data-driven insights and support Lazard’s ambition to become a leading AI-enabled independent financial advisory firm.
How the Acquisition of Campbell Lutyens Will Support Lazard
The acquisition marks a significant step in Lazard’s strategy to expand its private capital advisory business, a key pillar of its long-term growth plan under the Lazard 2030 vision. The company aims to build a more resilient, productive and growth-oriented business with a higher contribution from private capital revenues, in line with its goal to double revenue while enhancing client relevance and delivering 10–15% annual total shareholder returns by 2030.
By combining with Campbell Lutyens, Lazard will strengthen its global advisory capabilities and expand its reach across institutional investors and financial sponsors. The deal enhances its ability to offer end-to-end solutions, covering capital formation, liquidity events and strategic advisory services.
Peter Orszag, CEO and Chairman of Lazard, stated that “This transaction marks another defining strategic step on the path toward Lazard 2030 and an exciting avenue for future growth. Private capital advisory has been expanding rapidly, and the future will belong to those who can combine global insight and deep expertise with the scale to deliver innovative solutions across the full private markets spectrum.” He further added, “With this transaction, Lazard and Campbell Lutyens will set a new benchmark for a comprehensive global model—tightly integrated with Lazard’s world class M&A and broader advisory capabilities.”
Overall, the acquisition reinforces Lazard’s focus on scaling its private capital advisory platform, enhancing diversification and driving long-term revenue growth through expanded capabilities and global reach.
LAZ’s Price Performance & Zacks Rank
In the past six months, LAZ shares have plunged 9% compared with the industry’s 19% decline.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #5 (Strong Sell).
In April 2026, LPL Financial Holdings Inc. (LPLA - Free Report) , along with its subsidiaries, including LPL Financial LLC and LPL Capital Partners, announced a major step to grow its advisor network by entering into an agreement to acquire the Mariner Advisor Network, a part of Mariner.
This planned acquisition will align with LPLA’s broader strategy of building a supported independence model by expanding its advisor base. It allows advisors to access advanced technology, compliance support and a wide range of wealth management solutions. The company is also strengthening its presence in the hybrid advisory space through its partnership with Private Advisor Group.
In the same month, Federated Hermes, Inc. (FHI - Free Report) completed the previously announced acquisition of an 80% majority interest in FCP Fund Manager, L.P., a privately held U.S. real estate investment manager.
The acquisition expands FHI’s private markets and alternatives platform, particularly in the United States. The U.S. real estate market, particularly the multifamily segment, offers strong fundamentals and durable demand, supporting long-term growth and diversification.
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Lazard to Expand Private Capital Advisory With Campbell Lutyens Deal
Key Takeaways
Lazard Inc. (LAZ - Free Report) has announced that it has entered into a definitive agreement to acquire Campbell Lutyens, a leading global private markets advisor specializing in fund placement, secondary advisory and GP capital advisory services. The move builds on Lazard’s existing private capital advisory operations.
The acquisition will lead to the formation of a new business unit, Lazard CL, which will operate as Lazard’s third global business pillar, reinforcing its strategic expansion into private capital advisory. The platform will work closely with Lazard’s mergers and acquisitions (M&A), capital markets, restructuring and liability management and broader advisory divisions to deliver integrated solutions across private markets.
The combined entity will bring together two complementary advisory platforms, strengthening Lazard’s presence in primary fundraising and secondary advisory while enhancing its ability to serve institutional investors and financial sponsors globally.
Financial Details of Lazard’s Acquisition
The total transaction consideration is approximately $575 million, payable partly at closing and partly two years after completion. Both components include portions subject to lock-up arrangements. Additionally, there is potential earnout consideration of up to $85 million based on performance targets over a multi-year period.
The transaction is expected to close in calendar year 2026, subject to regulatory approvals. Management expects the deal to be accretive to earnings in 2027 and beyond.
Key Details of Lazard CL
Lazard CL will combine the strengths of both firms to create a leading global private capital advisory platform. The combined business is expected to generate approximately $500 million in revenue by 2027.
The platform will include more than 280 advisory professionals across 18 offices worldwide, supported by a dedicated institutional distribution team of over 60 professionals. Over the past two years, the combined businesses have advised on more than 230 fee-paying mandates.
In addition, the platform has handled over $100 billion in GP and LP secondary transaction volume and raised more than $190 billion in capital for clients over the same period.
Lazard CL will provide comprehensive advisory services across the full capital life cycle, including capital formation, liquidity solutions and strategic advisory. The platform will span key asset classes such as infrastructure, private credit, private equity and real estate across major global regions, including the United States, Europe, the Middle East, and Asia Pacific. These capabilities will be delivered in close coordination with Lazard’s broader advisory platform, enabling fully integrated client solutions.
The company’s private capital advisory business has more than doubled its revenue over the past five years. As such, the formation of Lazard CL is expected to further accelerate this growth by enhancing scale, expanding global reach and strengthening its ability to deliver end-to-end private market solutions.
The integration will also leverage proprietary datasets from both firms, along with Lazard’s artificial intelligence capabilities. This is expected to enhance data-driven insights and support Lazard’s ambition to become a leading AI-enabled independent financial advisory firm.
How the Acquisition of Campbell Lutyens Will Support Lazard
The acquisition marks a significant step in Lazard’s strategy to expand its private capital advisory business, a key pillar of its long-term growth plan under the Lazard 2030 vision. The company aims to build a more resilient, productive and growth-oriented business with a higher contribution from private capital revenues, in line with its goal to double revenue while enhancing client relevance and delivering 10–15% annual total shareholder returns by 2030.
By combining with Campbell Lutyens, Lazard will strengthen its global advisory capabilities and expand its reach across institutional investors and financial sponsors. The deal enhances its ability to offer end-to-end solutions, covering capital formation, liquidity events and strategic advisory services.
Peter Orszag, CEO and Chairman of Lazard, stated that “This transaction marks another defining strategic step on the path toward Lazard 2030 and an exciting avenue for future growth. Private capital advisory has been expanding rapidly, and the future will belong to those who can combine global insight and deep expertise with the scale to deliver innovative solutions across the full private markets spectrum.” He further added, “With this transaction, Lazard and Campbell Lutyens will set a new benchmark for a comprehensive global model—tightly integrated with Lazard’s world class M&A and broader advisory capabilities.”
Overall, the acquisition reinforces Lazard’s focus on scaling its private capital advisory platform, enhancing diversification and driving long-term revenue growth through expanded capabilities and global reach.
LAZ’s Price Performance & Zacks Rank
In the past six months, LAZ shares have plunged 9% compared with the industry’s 19% decline.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Firms Taking Similar Steps
In April 2026, LPL Financial Holdings Inc. (LPLA - Free Report) , along with its subsidiaries, including LPL Financial LLC and LPL Capital Partners, announced a major step to grow its advisor network by entering into an agreement to acquire the Mariner Advisor Network, a part of Mariner.
This planned acquisition will align with LPLA’s broader strategy of building a supported independence model by expanding its advisor base. It allows advisors to access advanced technology, compliance support and a wide range of wealth management solutions. The company is also strengthening its presence in the hybrid advisory space through its partnership with Private Advisor Group.
In the same month, Federated Hermes, Inc. (FHI - Free Report) completed the previously announced acquisition of an 80% majority interest in FCP Fund Manager, L.P., a privately held U.S. real estate investment manager.
The acquisition expands FHI’s private markets and alternatives platform, particularly in the United States. The U.S. real estate market, particularly the multifamily segment, offers strong fundamentals and durable demand, supporting long-term growth and diversification.