New York and London, November 2nd / PRNewswire / -- Lazard , Inc. (New York Stock Exchange ticker: LAZ) Today, we announce the completion of the acquisition of Campbell Lutyens and the launch of Lazard CL, positioning ourselves as a leader in the global private capital consulting industry. This transaction was initially announced on April 30, 2026, with the aim of integrating the private capital consulting business of Lazard with the top bankers and global operations from Campbell Lutyens. The establishment of Lazard CL is a milestone in Lazard's 2030 strategy, aimed at achieving long-term, profitable growth, expanding the solutions provided to clients, and further diversifying the company's revenue sources.

Lazard CEO and Chairman Peter Orszag stated: "We are delighted to launch our third largest global business, Lazard CL. By combining our global leadership in primary market fundraising and secondary market consulting with our world-class expertise in mergers and acquisitions, capital markets, and restructuring, we are deepening the integration between our consulting services and expanding our reach in the largest strategic transactions and private capital activities. Campbell Lutyens is an outstanding company with excellent talent and a culture that is very similar to ours – focused on commercialization, strong collaboration, and dedicated to serving clients – I am thrilled to welcome this team to Lazard."

Lazard CL has integrated highly complementary platforms and boasts a long track record in delivering results for clients. Lazard CL employs over 300 consulting professionals across 19 offices worldwide. Over the past four decades, it has facilitated the raising of more than one trillion dollars in primary capital and conducted approximately 1,300 advisory services. As fundraising competition intensifies and liquidity solutions become more complex, institutional investors, financial sponsors, and their portfolio companies require independent and differentiated advice throughout the entire private capital lifecycle. Lazard CL's global distribution network, deep professional expertise, and track record in execution place it in an ideal position to meet these needs.

• One platform, multiple solutions: For financial sponsors, institutional investors, and other active market participants, we provide a full range of services including fund placement, primary fundraising, secondary consulting, and GP capital consulting, covering the entire lifecycle of private capital, from capital formation to liquidity to strategic alternatives. Lazard CL extends its global distribution capabilities to approximately 4,000 institutional investors through a professional distribution team of over 60 people, LP, connecting attractive investment opportunities with liquidity solutions.
• Deep asset class and trading experience: Professional expertise is available in all major asset classes – private equity, private credit, infrastructure, and real estate – as well as in all major capital centers, including North America, Europe, the Middle East, and the Asia-Pacific region.
• Differentiated data advantage: A proprietary dataset built over the past 15 years, currently comprising approximately 100,000 investor sentiment data points and about 20,000 fund pricing data points. Combined with the leading artificial intelligence capabilities of Lazard, this data helps to provide customers with more precise benchmark comparisons, positioning, and targeted investor approaches.
• Independent Advice: A specialized service tailored for private capital clients. Operating independently with the support of the Lazard global brand and infrastructure, Lazard CL can provide independent, objective, and prudent consulting at every stage of the private capital cycle, covering everything from initial fundraising to GP capital consulting.

Co-CEO Gordon Bajnai stated: "Today, Lazard CL officially opens its doors as the world's largest comprehensive private equity consulting platform. It has taken 38 years to build an independent, entrepreneurial institution centered around the customer-first philosophy, and this spirit continues to be reflected in our new business. Coupled with Lazard's strength in financial consulting, we now offer our clients a level of global scale and coverage that is rare in the industry."

Co-CEO Holcombe Green stated: " Lazard CL represents the next phase of everything we have built over the past five years in the private capital consulting business at Lazard. During this period, our revenue has more than doubled, and our global presence has continued to expand. This transaction enhances our prominent capabilities in private equity and real estate, and establishes us as a leader in the fields of infrastructure and private credit. It integrates the professional expertise of our team to create the most comprehensive business in the private capital consulting sector."

As announced by the company on April 30, 2026, when the acquisition was disclosed, the upfront consideration paid at the time of transaction closure was mainly in the form of Lazard shares. A portion of these shares were subject to a lock-up arrangement lasting up to three years, which strengthened Lazard's balance sheet and aligned the long-term performance of the combined team with that of the company. As disclosed by Lazard during the third-quarter and first nine-months financial report conference call in 2026, the performance of the Campbell Lutyens business exceeded the assumptions that supported this acquisition. Lazard continues to expect that Lazard CL will generate approximately $500 million in estimated consolidated revenue and will contribute to increased profitability in 2027, without taking into account any revenue or cost synergies. For more information, please visit Lazard.com.

About Lazard

Lazard was founded in 1848 and is a leading financial consulting, private equity consulting, and asset management firm with operations in North America and South America, Europe, the Middle East, Asia, and Australia. Lazard provides consulting services in areas such as mergers and acquisitions, capital markets and capital solutions, restructuring and debt management, geopolitics, and other strategic matters. Lazard also offers consulting on primary fundraising, secondary trading, and GP capital solutions for private market sponsors and investors, and provides asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high-net-worth individuals. Lazard is listed on the New York Stock Exchange under the stock code LAZ. For more information, please visit Lazard.com and follow Lazard on LinkedIn.

Lazard CL is a subsidiary of Lazard and Inc (New York Stock Exchange ticker: LAZ). It provides specialized primary fundraising, secondary consulting, and GP capital advisory services in the areas of private equity, private credit, infrastructure, and real estate markets, across the Americas, Europe, the Middle East, and the Asia-Pacific region. For more information, please visit LazardCL.com and follow LazardCL on LinkedIn.

Warning Regarding Forward-Looking Statements

This press release contains “forward-looking statements” as defined by the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. In certain circumstances, forward-looking statements may be identified by the use of words such as “may”, “might”, “will”, “should”, “could”, “would”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “target”, “goal”, “pipeline”, or “continue”, as well as their negative forms and other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions about us, including expectations regarding Lazard CL’s projected consolidated revenue and the expected enhancement of Campbell Lutyens’s earnings in 2027; the expected benefits and future performance of Lazard CL, including growth opportunities, business synergies, and benefits to customers; as well as our plans to achieve long-term, profitable growth through our Lazard 2030 strategy.

These forward-looking statements are based solely on our current expectations and projections regarding future events. There are significant factors that could lead to substantial differences between our actual results, levels of activity, performance, or achievements and those stated or implied in these forward-looking statements.

These factors include, but are not limited to, those discussed in item 1A of the "Risk Factors" section of our 10-K annual reports, as well as those occasionally discussed in our 10-Q quarterly reports and 8-K periodic reports, including the following aspects:

• The expected returns from the acquisition by Campbell Lutyens may not be realized within the anticipated time frame, or may not be realized at all;
• Difficulties, delays, or costs higher than expected may arise when integrating the business, operations, and personnel of Campbell Lutyens.
• Adverse overall economic conditions or unfavorable conditions in global or regional financial markets;
• Changes in international trade policies and practices, including the implementation of tariffs, proposed further tariff increases, and responses from other jurisdictions; the risk of a government shutdown, as well as the resulting economic impacts, fluctuations, and uncertainties;
• Company revenue declines, for example, due to a decrease in mergers and acquisitions activities, fundraising, or secondary trading activities. As a result, the company's market share in these areas decreases, or the scale of managed assets ( AUM ) decreases;
• Losses incurred by third parties due to financial or other problems;
• Losses caused by unrecognized or unforeseen risks;
• Insufficient business liquidity, which means a lack of funds that can be used for business operations at any time;
• Business competition pressure, as well as the ability to retain and attract employees at current salary levels; and
• Changes in relevant tax laws, regulations, or treaties, or adverse interpretations of these contents.

The above risks and uncertainties are not exhaustive. Our SEC report also describes other factors that may have an adverse effect on business and financial performance. In addition, we operate in a highly competitive and rapidly changing environment. New risks and uncertainties may emerge from time to time. Management is unable to predict all risks and uncertainties, nor can it assess the impact of all factors on the business, or the extent to which a single factor or a combination of factors may lead to actual results that differ significantly from those stated in any forward-looking statements.

Therefore, we cannot guarantee that the forward-looking statements in this press release will prove to be accurate or correct. Although we believe that the content reflected in the forward-looking statements is reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events. Moreover, neither we nor any other party assumes any responsibility for the accuracy or completeness of any forward-looking statements. You should not regard forward-looking statements as predictions of future events. After the date of this press release, we have no obligation to update any forward-looking statements to make them consistent with actual results or revised expectations, nor do we intend to do so.

Lazard, Inc. Committed to providing timely and accurate information to the investing public while complying with laws and regulatory obligations. To this end, Lazard and its operating companies use their websites and other social media platforms to convey information regarding their business, including the anticipated release of quarterly financial results, quarterly financial data, statistical information, and business-related details, as well as updates on the asset management sizes of various mutual funds, hedge funds, and other investment products managed by Lazard Asset Management LLC, Lazard Fr, res, and Gestion SAS. Investors can access the websites of Lazard and its operating companies through the link www.lazard.com.