Lazard to acquire Campbell Lutyens in $575M expansion of private capital arm

Lazard (NYSE: AZ) has struck a definitive agreement to acquire Campbell Lutyens, a prominent independent adviser in the private capital markets, in a deal valued at approximately $575 million.

The move marks a significant escalation in Lazard’s strategy to diversify its revenue streams and capture a larger share of the burgeoning global private markets.

The transaction will see the birth of Lazard CL, a specialized global private capital advisory business.

By integrating Campbell Lutyens’ expertise in fundraising, secondary market transactions, and General Partner (GP) capital advisory, Lazard will field a team of more than 280 advisory professionals across North America, Europe, and Asia.

The financial structure of the deal includes a $575 million base price payable in two tranches, with an additional $85 million available in performance-based earn-outs.

Lazard management estimates that the combined entity will achieve a revenue run-rate of approximately $500 million by 2027.

The acquisition is expected to close within 2026, pending regulatory approvals.