Lazard has entered into a definitive agreement to acquire Campbell Lutyens, a premier global private markets advisor, for approximately $575 million in total consideration, with potential additional payments of up to $85 million based on defined performance criteria over a multi-year period. The transaction will establish Lazard CL as Lazard’s third global business and create the leading private capital advisory platform in the world.
Founded in 1988, Campbell Lutyens has built a 35-plus year track record as an independent private capital advisor spanning private equity, private credit, infrastructure, and real estate, with services covering primary fundraising, secondary transactions, and GP capital solutions. The firm has raised more than $713 billion of capital across its history and operates across 15 locations on three continents.
The combined Lazard CL platform will bring together more than 280 advisory professionals across 18 offices globally, a dedicated institutional distribution team of more than 60 professionals, and an estimated $500 million in combined 2027 revenue. Over the past two years, the combined businesses have advised on more than 230 fee-paying mandates, facilitated more than $100 billion in GP and LP secondary transaction volume, and raised more than $190 billion of capital for clients.
Lazard Global Head of Private Capital Advisory Holcombe Green and Campbell Lutyens CEO Gordon Bajnai have been appointed Co-CEOs of Lazard CL, reporting to Lazard CEO and Chairman Peter Orszag. Andrew Sealey, Chairman of Campbell Lutyens, will serve as non-executive Chairman of the combined unit. Senior leadership from both organizations remains in place across fundraising, GP capital advisory, and secondary advisory functions.
The transaction advances Lazard’s 2030 strategic vision to build a more productive, resilient, and growth-oriented firm, with private capital identified as a core growth driver. Lazard CL will operate in close coordination with Lazard’s M&A, capital markets advisory, and restructuring practices, offering financial sponsors and institutional investors integrated advisory services across the full capital lifecycle. The combined platform will also pair proprietary datasets from both businesses with Lazard’s AI capabilities to deliver deeper client insights.
KEY QUOTES:
“This transaction marks another defining strategic step on the path toward Lazard 2030 and an exciting avenue for future growth. 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.”
Peter Orszag, CEO and Chairman, Lazard
“Over the last 38 years we have grown to be a leading global independent private capital advisor, built on a culture of entrepreneurship, innovation, and a client-first mentality. Lazard’s strength in M&A and broader advisory platform will be a significant benefit to our combined entity. Together, we will expand investor access as one of the industry’s largest integrated distribution networks, creating an unparalleled global platform for private capital advisory and unlocking new opportunities for clients worldwide.”
Gordon Bajnai, Co-CEO, Lazard CL
“Over the last five years, Lazard PCA has more than doubled its revenue, expanding its global footprint and strengthening its position as a leading private capital advisory platform. Campbell Lutyens has built a formidable business, and this transaction brings together two highly respected franchises with deeply complementary strengths. By enabling us to provide end-to-end solutions that span capital formation, liquidity, and strategic advisory, we are better positioned to support clients across private markets and create growth opportunities for our world-class bankers.”
Holcombe Green, Co-CEO, Lazard CL
