Lazard said Nov. 2 that it completed its acquisition of Campbell Lutyens and launched Lazard CL, combining private-capital advisory operations in a third global business alongside its existing advisory and asset-management activities.
The new unit brings together Campbell Lutyens and Lazard’s private-capital advisory team. Gordon Bajnai and Holcombe Green are co-CEOs. The business advises private-market firms and investors on raising funds, secondary transactions and capital solutions for fund managers.
A completed deal, with integration still ahead
Lazard first announced the acquisition agreement April 30. That announcement described dedicated businesses spanning infrastructure, private credit, private equity and real estate, with operations serving the United States, Europe, the Middle East and Asia-Pacific.
For clients, the combination expands the range of private-capital services available within Lazard. It also links those activities more closely with the firm’s mergers-and-acquisitions, capital-markets and restructuring advisory work. That is the stated commercial rationale, not evidence that every client will use the combined offering.
Lazard said the upfront consideration paid at closing consisted primarily of its stock, with portions subject to lockups lasting as long as three years. The firm did not frame the transaction as an all-cash purchase.
The company continues to forecast approximately $500 million in combined revenue for Lazard CL in 2027 and expects the business to add to earnings before revenue or expense synergies. Those are management projections for a future period, not revenue already earned by the new unit.