Lazard is set to acquire global private markets adviser Campbell Lutyens in a $575m (£425.4m) deal, as the firm looks to build out its alternatives advisory group, including in private credit.
The US financial advisory and asset management firm said that, combined with its existing private capital advisory platform, it will join with the UK-based Campbell Lutyens to form a new unit, Lazard CL.
The new platform will include dedicated fundraising, secondary advisory and general partner (GP) capital advisory businesses in infrastructure, private credit, private equity and real estate across the US, Europe, the Middle East and Asia-Pacific, Lazard said.
Overall, New York Stock Exchange-listed Lazard said the combined businesses are expected to generate approximately $500m in estimated revenue by 2027. It will also have 280 advisory professionals across 18 offices globally.
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“This transaction marks another defining strategic step on the path toward Lazard 2030 and an exciting avenue for future growth,” said Peter Orszag, Lazard chief executive and chairman. “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.”
Alongside this, the combined platforms have generated over $100bn in GP and limited partner secondary transaction volume over the past two years and raised $190bn for clients over the same period.
With this transaction, the firm will establish Lazard CL as its third global business, reporting to Orszag. Holcombe Green, Lazard’s global head of private capital advisory, has been appointed co-chief executive of Lazard CL alongside Gordon Bajnai, the current chief executive of Campbell Lutyens.
Campbell Lutyens was founded in 1988 and currently operates across 15 locations, with the firm raising over $713bn of capital over this time.
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“Lazard’s strength in merger and acquisitions and broader advisory platform will be a significant benefit to our combined entity,” said Bajnai. “Together, we will expand investor access as one of the industry’s largest integrated distribution networks, creating an unparalleled global platform for private capital advisory and unlocking new opportunities for clients worldwide.”
The transaction is expected to close in 2026, subject to regulatory approvals.
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