Lazard, Inc. announced on November 3, 2026, the completion of its acquisition of Campbell Lutyens and the launch of Lazard CL, a new private-capital advisory subsidiary, with the transaction originally announced on April 30, 2026.

Key Highlights

  • Acquisition closed: The Campbell Lutyens transaction, first publicly announced on April 30, 2026, has now been completed, according to the filing.
  • New entity launched: Lazard CL has been formed as a subsidiary of Lazard, Inc., combining Lazard's private-capital advisory operations with those of Campbell Lutyens.
  • Scale at launch: Lazard CL comprises more than 300 advisory professionals across 19 offices worldwide, according to the filing.
  • Historical transaction volume: The filing states the combined platform has advised on approximately 1,300 mandates totaling over $1 trillion in primary and secondary transactions over the past four decades.
  • Upfront consideration: The filing states the upfront payment at closing consisted predominantly of Lazard shares, with portions subject to a lock-up period of up to three years.
  • 2027 revenue target: According to the filing, Lazard expects Lazard CL to generate estimated total revenues of approximately $500 million in 2027 and to be accretive to earnings before any revenue or expense synergies.
  • Performance note: The filing states the Campbell Lutyens business is performing better than the assumptions underlying the acquisition.

Lazard CL Begins Operations After Campbell Lutyens Combination

According to the filing, Lazard, Inc. (NYSE:LAZ) completed the acquisition of Campbell Lutyens on November 3, 2026, and simultaneously launched Lazard CL as a standalone subsidiary. The transaction was first disclosed publicly on April 30, 2026. The filing describes Lazard CL as combining Lazard's existing private-capital advisory capabilities with Campbell Lutyens's fund placement, primary fundraising, secondary advisory, and GP capital advisory services across private equity, private credit, infrastructure, and real estate.

The filing notes that Lazard CL operates across the Americas, Europe, the Middle East, and the Asia-Pacific region, with more than 300 advisory professionals and 19 offices globally. It also discloses that the platform has access to proprietary datasets built over the last 15 years, currently comprising approximately 100,000 investor sentiment data points and approximately 20,000 fund pricing data points, which the filing says are used in combination with Lazard's artificial intelligence capabilities.

On the financial terms, the filing states the upfront payment at closing was made predominantly in Lazard shares, with portions subject to lock-up periods of up to three years. The filing adds that Lazard continues to expect Lazard CL to generate approximately $500 million in estimated total revenues in 2027 and to be accretive to earnings before revenue or expense synergies. The filing also notes that as communicated during Lazard's third-quarter 2026 earnings call, the Campbell Lutyens business is performing better than the assumptions on which the acquisition was based. The filing contains forward-looking statements, including the revenue and earnings estimates, and notes they are subject to risks, uncertainties, and assumptions as described in the company's cautionary language.

What Was Disclosed

Lazard disclosed the closing of the Campbell Lutyens acquisition and the formation of Lazard CL as a private-capital advisory subsidiary, including the share-based payment structure, a 2027 revenue expectation of approximately $500 million, and a performance update indicating better-than-assumed results.