Key Takeaways
- • Lazard, Inc. (NYSE: LAZ) completed its acquisition of Campbell Lutyens and launched Lazard CL on November 2, 2026, creating what the firm describes as a global private capital advisory platform.
- • Lazard CL combines more than 300 advisory professionals across 19 offices and has advised on more than $1 trillion of primary capital raised and secondary transaction volume across roughly 1,300 mandates over four decades.
- • The business gives Lazard access to approximately 4,000 institutional investors through a team of more than 60 LP distribution professionals.
- • Lazard expects Lazard CL to generate approximately $500 million of estimated combined revenue and to be accretive to earnings in 2027 before revenue or expense synergies.
- • Consideration was paid primarily in Lazard stock, with portions subject to lock-up arrangements of up to three years, and Campbell Lutyens is reported to be performing ahead of the assumptions behind the deal.
Summary
Lazard, Inc. (NYSE: LAZ) announced the completion of its acquisition of Campbell Lutyens and the launch of Lazard CL, a new business it describes as the global leader in private capital advisory. The transaction was first announced on April 30, 2026. Peter Orszag, Lazard's CEO and Chairman, called Lazard CL the firm's third global business and said it deepens the connection between Lazard's M&A, capital markets and restructuring advisory work and its private capital activity.
According to the firm, Lazard CL brings together more than 300 advisory professionals and 19 offices worldwide, and has advised on more than $1 trillion of primary capital raised and secondary transaction volume across approximately 1,300 mandates over the past four decades. The platform offers fund placement, primary fundraising, secondary advisory and GP capital advisory services across private equity, private credit, infrastructure and real estate, with coverage across North America, Europe, the Middle East and Asia-Pacific. Its LP distribution team of more than 60 professionals is positioned to connect approximately 4,000 institutional investors with investment opportunities and liquidity solutions. Lazard also cited proprietary datasets covering roughly 100,000 investor sentiment data points and 20,000 fund pricing data points, which it says inform benchmarking and investor targeting.
Gordon Bajnai and Holcombe Green are co-CEOs of Lazard CL. Bajnai said the business is the largest integrated platform in private capital advisory globally and noted that Campbell Lutyens had built an independent franchise over 38 years. Green said Lazard's private capital advisory business has more than doubled its revenue over the past five years and that the transaction adds category leadership in infrastructure and private credit to Lazard's existing private equity and real estate strengths.
Financially, the upfront consideration was paid primarily in Lazard stock, with portions subject to lock-up arrangements of up to three years, according to the April 30, 2026 announcement. Lazard said on its third quarter and first nine months 2026 earnings call that Campbell Lutyens is performing ahead of the assumptions supporting the acquisition. The firm continues to expect Lazard CL to generate approximately $500 million of estimated combined revenue and to be accretive to earnings in 2027 before accounting for synergies. The release includes forward-looking statements and lists integration risk, market conditions and M&A and fundraising activity levels among the factors that could cause results to differ.
According to the firm, Lazard CL brings together more than 300 advisory professionals and 19 offices worldwide, and has advised on more than $1 trillion of primary capital raised and secondary transaction volume across approximately 1,300 mandates over the past four decades. The platform offers fund placement, primary fundraising, secondary advisory and GP capital advisory services across private equity, private credit, infrastructure and real estate, with coverage across North America, Europe, the Middle East and Asia-Pacific. Its LP distribution team of more than 60 professionals is positioned to connect approximately 4,000 institutional investors with investment opportunities and liquidity solutions. Lazard also cited proprietary datasets covering roughly 100,000 investor sentiment data points and 20,000 fund pricing data points, which it says inform benchmarking and investor targeting.
Gordon Bajnai and Holcombe Green are co-CEOs of Lazard CL. Bajnai said the business is the largest integrated platform in private capital advisory globally and noted that Campbell Lutyens had built an independent franchise over 38 years. Green said Lazard's private capital advisory business has more than doubled its revenue over the past five years and that the transaction adds category leadership in infrastructure and private credit to Lazard's existing private equity and real estate strengths.
Financially, the upfront consideration was paid primarily in Lazard stock, with portions subject to lock-up arrangements of up to three years, according to the April 30, 2026 announcement. Lazard said on its third quarter and first nine months 2026 earnings call that Campbell Lutyens is performing ahead of the assumptions supporting the acquisition. The firm continues to expect Lazard CL to generate approximately $500 million of estimated combined revenue and to be accretive to earnings in 2027 before accounting for synergies. The release includes forward-looking statements and lists integration risk, market conditions and M&A and fundraising activity levels among the factors that could cause results to differ.
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