Lazard to Acquire Campbell Lutyens for $575M, Creating New Private Capital Unit
Acquisition Details and Strategic Impact
Overview of the Acquisition
April 30 (Reuters) - Investment bank Lazard said on Thursday that it has entered into an agreement to acquire private equity advisory firm Campbell Lutyens for a total consideration of about $575 million, creating a new private capital advisory division called Lazard CL.
Formation of Lazard CL
Combining Advisory Services
With Lazard's existing private capital advisory group and Campbell Lutyens, the new unit will include fundraising, secondary advisory, and capital advisory businesses in infrastructure, private credit, private equity, and real estate, the company said.
Leadership Structure
Lazard CL will be formed as the investment bank's third global business, and will be co-led by Holcombe Green, the global head of private capital advisory at Lazard and Gordon Bajnai, the current CEO of Campbell Lutyens.
Client Services and Strategic Benefits
Comprehensive Advisory Offerings
The new unit will offer clients advisory services across the full capital life cycle, from formation to liquidity to strategic alternatives, the company said, as it pairs combined proprietary datasets of Lazard's private capital group and Campbell Lutyens.
CEO Commentary
"This transaction marks another defining strategic step on the path toward Lazard 2030 and an exciting avenue for future growth," CEO Peter Orszag said.
Financial Terms and Future Outlook
Deal Value and Performance Criteria
Lazard said that along with the consideration of about $575 million, there is also a potential of additional consideration of up to $85 million to be paid based on defined performance criteria over a multi-year period.
Impact on Earnings
The deal is expected to be accretive to Lazard's 2027 earnings and thereafter, the investment bank said.
Reporting Credits
(Reporting by Akanksha Khushi in Bengaluru; Editing by Nivedita Bhattacharjee)
