Lazard launches new business after acquisition
Key points
- Lazard completed its acquisition of Campbell Lutyens and launched Lazard CL as its third global business.
- Lazard continues to expect approximately $500 million in combined annual revenue and earnings accretion in 2027, before revenue or expense synergies.
- Lazard CL brings together more than 300 advisory professionals across 19 offices, expanding the company's private capital advisory operations.
Lazard (NYSE:LAZ) completed its acquisition of Campbell Lutyens and launched Lazard CL, its third global business, combining the firms' private capital advisory operations.
The combined business is expected to generate approximately $500 million in revenue, with Lazard maintaining its forecast for earnings accretion in 2027 before revenue or expense synergies.
Lazard said Campbell Lutyens is performing ahead of the assumptions supporting the acquisition, while the transaction's upfront consideration was paid primarily in Lazard stock.
Lazard CL has more than 300 advisory professionals across 19 offices worldwide and provides primary fundraising, secondary advisory and general partner capital advisory services.
The company expects the combined business to contribute to earnings in 2027 before synergies, while the transaction forms part of its Lazard 2030 strategy.
Gordon Bajnai and Holcombe Green serve as co-chief executive officers of Lazard CL, overseeing the combined private capital advisory business and its global operations.
Lazard operates across financial advisory and asset management, with its broader strategy focused on profitable growth, expanding its advisory capabilities and diversifying revenue sources.
