Lazard has entered a definitive agreement to acquire Campbell Lutyens, a global private markets advisor focused on fund placement, secondary advisory, and GP capital advisory services. The transaction carries approximately $575 million in consideration, with potential additional consideration of up to $85 million tied to defined performance criteria. The deal is expected to close in calendar year 2026, subject to regulatory approvals.
The acquisition will combine Lazard’s private capital advisory group with Campbell Lutyens to form Lazard CL, a new global business unit focused on private capital advisory. Lazard said the combined platform is expected to generate approximately $500 million in estimated 2027 revenue and include more than 280 advisory professionals across 18 offices. Holcombe Green, Lazard’s Global Head of Private Capital Advisory, and Gordon Bajnai, CEO of Campbell Lutyens, will serve as Co-CEOs of the new unit.
The combined platform will cover fundraising, secondary advisory, and GP capital advisory across infrastructure, private credit, private equity, and real estate. Lazard said the businesses have raised more than $190 billion for clients and advised on more than $100 billion in GP and LP secondary transaction volume over the past two years. The firm also plans to pair the combined proprietary datasets with Lazard’s AI capabilities to support private markets advisory work.
For Lazard, the deal accelerates its push into private capital as alternative asset managers and institutional investors seek more integrated advice across fundraising, liquidity, and strategic alternatives. Lazard CL will coordinate with the firm’s M&A, capital markets advisory, restructuring, and liability management teams, giving Lazard a larger platform across the private capital life cycle.
