New York and London, November 3, 2026 / PRNewswire / -- Lazard, Inc. ( NYSE : LAZ ) Today, we announce that we have completed the acquisition of Campbell Lutyens and officially launched Lazard CL, a globally leading private capital consulting firm. This transaction was first announced on April 30, 2026, and it integrates the private capital consulting business of Lazard with the top bankers and global operations from Campbell Lutyens.

Lazard indicates that the establishment of Lazard CL is a milestone within the ‘Lazard 2030’ strategy. The goal is to achieve long-term, profitable growth, expand customer-oriented solutions, and further diversify the company's sources of revenue.

Lazard CEO and Chairman Peter Orszag stated: "We are very pleased to establish our third global business, Lazard CL. By combining our global leadership in primary capital raising and secondary consulting, as well as our top-tier expertise in mergers and acquisitions, capital markets, and restructuring, we have enhanced the synergy between our consulting practices and expanded our coverage in the areas of largest strategic transactions and private capital fundraising. Campbell Lutyens is an outstanding company with excellent talent and a corporate culture that is very similar to ours – business-oriented, collaborative, and customer-centric – I am delighted to welcome this team to Lazard."

Lazard CL integrates complementary platforms to provide customers with long-term service experience. The platform boasts over 300 consulting experts and 19 offices worldwide. Over the past 40 years, it has provided consulting services for primary capital raising and secondary transactions in approximately 1,300 projects, with a total transaction value exceeding one trillion US dollars. As competition in capital raising intensifies and liquidity solutions become increasingly complex, institutional investors, financial sponsors, and their portfolio companies require independent and differentiated consulting services that span the entire lifecycle of private capital. Lazard CL, with its global distribution network, deep professional expertise, and verifiable track record of execution, is well-equipped to meet these needs.

• One platform, multiple solutions: Providing financial sponsors, institutional investors, and other active market participants with a full range of services covering fund raising, primary capital financing, secondary consulting, and capital consulting for general partners ( GP ), throughout the entire lifecycle of private capital – from fundraising to liquidity, and then to strategic alternatives. Lazard CL is expanding its global distribution capabilities, connecting approximately 4,000 institutional investors with attractive investment opportunities and liquidity solutions through a dedicated team of over 60 LP sales experts.
• Covers a wide range of asset classes and trading experience: Possesses professional expertise in all major asset classes – private equity, private credit, infrastructure, and real estate – as well as in major financial centers in North America, Europe, the Middle East, and the Asia-Pacific region.
• Differentiated data advantage: Over the past 15 years, a proprietary dataset has been established, which currently includes approximately 100,000 investor sentiment data points and about 20,000 fund price data points. Combined with the leading artificial intelligence capabilities of Lazard, this data can help clients conduct more precise valuation, positioning, and investor outreach.
• Independent Consulting: A specialized firm established for private capital clients. While leveraging the global brand and infrastructure advantages of Lazard, Lazard CL maintains independent operations and can provide independent, objective, and confidential consulting services at every stage of the private equity cycle, from initial capital raising to GP capital consulting.

Co-CEO Gordon Bajnai stated: "Today, Lazard CL begins operations as the world's largest integrated platform for private equity consulting. Over 38 years, Campbell Lutyens has built a business that is independent and imbued with a strong entrepreneurial spirit, and this customer-centric approach is now also reflected in our new business. Combined with Lazard's expertise in financial consulting, Lazard CL offers clients a level of global reach and presence 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 field. During this time, the company's revenue has more than tripled, and our global presence has also expanded. In addition to our outstanding capabilities in private equity and real estate, this transaction enhances our leading position in infrastructure and private credit, and by bringing together team expertise, we aim to create the most comprehensive private capital consulting firm."

As announced by the company on April 30, 2026, at the time of the acquisition, the upfront payment upon completion of the transaction was mainly made in the form of Lazard shares, some of which were subject to a lock-up period of up to three years. This strengthened the balance sheet of Lazard and aligned the interests of the merged teams with the company's long-term value performance. As stated by Lazard during the third-quarter and first nine-months earnings call in 2026, the performance of the Campbell Lutyens business has been better than assumed at the time of the acquisition. Lazard still expects that Lazard CL will generate total revenues of approximately $500 million in 2027, which will have a positive impact on profitability before taking into account any revenue or cost synergies. For more information, please refer to Lazard.com.

About Lazard

Lazard was founded in 1848 and is a leading financial consulting, private equity consulting, and asset management firm with offices in North 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 issues. Lazard also offers primary capital raising, secondary trading, and GP capital raising solutions for sponsors and investors in the private market, as well as wealth management and investment solutions for institutions, corporations, governments, partnerships, family offices, and high-net-worth individuals. Lazard is listed on the New York Stock Exchange under Lazard, Inc (Stock Code: LAZ). For more information, please visit Lazard.com and follow Lazard on LinkedIn.

Lazard CL is a subsidiary of Lazard and Inc. ( NYSE : LAZ ) It provides professional services such as primary capital raising, secondary consulting, and GP capital consulting in the fields of private equity, private credit, infrastructure, and real estate in the Americas, Europe, Middle East, and Asia-Pacific regions. For more information, please visit LazardCL.com and follow LazardCL on LinkedIn.

Forward-looking Statements Warning

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 can be identified by words such as “may”, “might”, “will”, “should”, “can”, “could”, “expect”, “plan”, “predict”, “believe”, “estimate”, “anticipate”, “potential”, “goal”, “pipeline”, or “continue”, as well as their negative forms and similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions related to the company, including Lazard CL’s estimated total revenue and the expected contribution of the Campbell Lutyens acquisition to earnings in 2027; Lazard CL’s expected earnings and future business development, including growth opportunities, synergies between businesses, and benefits to customers; as well as the company’s “Lazard 2030” strategy aimed at achieving long-term earnings growth.

These forward-looking statements are merely predictions based on the company's current expectations and judgments regarding future events. There are significant factors that could lead to substantial differences between the company's actual results, business scope, performance, or achievements and those explicitly or implicitly stated in these forward-looking statements.

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

• The expected returns from the acquisition by Campbell Lutyens may not be realized within the anticipated time, 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 an unfavorable environment in global or regional financial markets;
• Changes in international trade policies and practices, including the imposition of additional tariffs, proposed further tariff increases, and countermeasures by other countries, may pose a risk of government shutdowns, as well as associated economic impacts, fluctuations, and uncertainties;
• Company revenue declines, such as reduced mergers and acquisitions activities, capital raising, or secondary market activities; market share decreases, or the scale of managed assets ( AUM ) decreases;
• Losses caused by third-party financial issues or other problems;
• Losses caused by unrecognized or unforeseeable risks;
• Lack of liquidity means that it is not possible to obtain the funds required for operations directly;
• The competitive pressures faced by the company, as well as the company's ability to retain and attract employees with the current level of compensation; and
• Changes in relevant tax laws, regulations, or treaties, or adverse interpretations of these provisions.

The above risks and uncertainties are not exhaustive. Reports submitted by the company to the U.S. Securities and Exchange Commission (SEC) also describe other factors that may have an adverse effect on business and financial performance. In addition, the company operates in a highly competitive and rapidly changing environment. New risks and uncertainties may arise from time to time, and the company's management is unable to foresee all of them, nor can they assess the impact of all factors on the business, or determine to what extent a single factor or a combination of factors could lead to significant differences between actual results and those stated in forward-looking statements.

Therefore, it cannot be guaranteed that the forward-looking statements in this announcement are accurate. Although the company believes these statements to be reasonable, it cannot guarantee future results, levels of activity, performance, achievements, or events. Furthermore, neither the company nor any other party assumes any responsibility for the accuracy or completeness of these forward-looking statements. You should not regard forward-looking statements as predictions of future events. The company has no obligation to update these forward-looking statements after the date of this press release to make them consistent with actual results or changed expectations, and the company has no intention of doing so.

Lazard, Inc. Committed to providing information to investors and the public in a timely and accurate manner in accordance with legal and regulatory obligations. To this end, Lazard and its operating companies use their websites and other social media platforms to publish information regarding business activities, including the expected release times of quarterly performance, quarterly financial, statistical, and business information, as well as updates on the asset management sizes of various investment funds, hedge funds, and other investment products managed by Lazard Asset Management LLC and Lazard Fr and res Gestion SAS. Investors can access the websites of Lazard and its operating companies through www.lazard.com.