Lazard Acquires Campbell Lutyens for $575M to Form Global Private Capital Platform

Lazard, Inc. (NYSE: LAZ) has entered into a definitive agreement to acquire Campbell Lutyens, a premier global private markets advisor, for $575 million. The transaction, announced on April 30, 2026, will combine Campbell Lutyens with Lazard’s existing private capital advisory group to form Lazard CL, a new global platform focused on private capital advisory services.

The deal consideration includes a portion payable at closing and a second tranche due two years later, both subject to lock-up arrangements. Additionally, up to $85 million in performance-based payments may be made over a multi-year period. The acquisition is expected to be accretive to Lazard’s earnings starting in 2027, with closing anticipated by the end of 2026, pending regulatory approvals.

Founded in 1988, Campbell Lutyens operates across 15 locations on three continents, specializing in fund placement, secondary advisory, and GP capital advisory services across private equity, private credit, infrastructure, and real estate sectors. The firm has raised over $713 billion in capital during its 35-year history, serving General Partners and Limited Partners globally.

Lazard, established in 1848, is a leading financial advisory and asset management firm with a global presence spanning the Americas, Europe, the Middle East, Asia, and Australia. Lazard provides advisory services in mergers and acquisitions, capital markets, restructuring, and asset management.

The combined Lazard CL platform will integrate Campbell Lutyens’ private capital advisory expertise with Lazard’s M&A, capital markets, and restructuring advisory capabilities. This integration aims to deliver comprehensive advisory services across the full capital lifecycle, from formation to liquidity and strategic alternatives, for financial sponsors and institutional investors worldwide.

Peter Orszag, Lazard’s CEO and Chairman, highlights the strategic importance of the acquisition, stating, “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. With this transaction, Lazard and Campbell Lutyens will set a new benchmark for a comprehensive global model—tightly integrated with Lazard’s world class M&A and broader advisory capabilities.”

Leadership of the new entity, Lazard CL, will be shared by Holcombe Green, Lazard’s Global Head of Private Capital Advisory, and Gordon Bajnai, current CEO of Campbell Lutyens, both appointed as Co-CEOs. The senior leadership team includes executives from both firms, with Andrew Sealey, Chairman of Campbell Lutyens, serving as non-executive Chairman of Lazard CL.

The acquisition leverages synergies across revenue, cost, and operations. Revenue synergies include cross-selling integrated advisory services and expanding product offerings in primary fundraising, secondary advisory, and GP capital advisory. Cost synergies focus on consolidating administrative functions and streamlining technology platforms. Operationally, the integration aims to provide end-to-end capital lifecycle solutions enhanced by AI-driven insights, combining proprietary datasets from both firms.

Market context indicates accelerating consolidation in private capital advisory, with Lazard CL positioned to challenge competitors by offering a uniquely integrated global platform. The deal expands Lazard’s footprint across the U.S., Europe, the Middle East, and Asia Pacific, enhancing its capabilities in infrastructure, private credit, private equity, and real estate advisory.

Looking ahead, Lazard plans to integrate the two firms’ operations while maintaining client service continuity and retaining key talent. The combined platform is expected to accelerate revenue growth and increase the share of revenue derived from private capital advisory, aligning with Lazard’s 2030 strategic vision to build a more productive and growth-oriented firm.