Lazard Completes Campbell Lutyens Acquisition
Lazard CL, a combined private capital advisory platform, launches as the firms' fundraising and secondary advisory businesses merge.
Updated on Nov. 4, 2026 in Business Strategy
Lazard has completed its acquisition of Campbell Lutyens and launched Lazard CL, a platform combining the two firms' fundraising and secondary advisory businesses. The platform spans fund placement, primary fundraising, secondary advisory and GP capital advisory across private equity, private credit, infrastructure and real estate.
Why it matters
The launch comes as competition in private capital fundraising intensifies and demand for liquidity solutions grows. The move is part of Lazard's broader effort to expand advisory capabilities and diversify its revenue streams.
Lazard CL reports more than 300 advisory professionals across 19 offices and a distribution network reaching approximately 4,000 institutional investors. The firm targets $500 million in revenue in 2027, though the source does not state the current revenue baseline for comparison.
The players
Lazard
Lazard is a global financial advisory and asset management firm, led by chairman and chief executive Peter Orszag.
Campbell Lutyens
Campbell Lutyens is a private capital advisory firm known for its fundraising and secondary advisory work, whose business is now combined with Lazard's.
Gordon Bajnai
Gordon Bajnai is a co-chief executive of Lazard CL, the combined private capital advisory platform.
Holcombe Green
Holcombe Green is a co-chief executive of Lazard CL, the combined private capital advisory platform.
The details
Lazard CL combines the fundraising and secondary advisory businesses of Lazard and Campbell Lutyens, which together have advised on more than $1 trillion in primary capital raised and secondary transaction volume across about 1,300 mandates over four decades. The platform also holds proprietary datasets covering about 100,000 investor sentiment data points and 20,000 fund pricing data points, and a dedicated team of more than 60 LP distribution professionals.
Timeline
April: Lazard announced the acquisition of Campbell Lutyens.
November 4, 2026: The acquisition was completed and Lazard CL launched.
2027: Lazard CL targets $500 million in revenue.
Market Landscape
The combination reflects consolidation among advisory firms seeking to serve both primary fundraising and secondary liquidity demand in private capital. It positions Lazard against competitors by bundling distribution reach with proprietary pricing and sentiment data across private equity, private credit, infrastructure and real estate.
Investors and fund managers seeking capital or liquidity in private markets may see the advisory services of the combined platform become a more consolidated option. The source does not describe specific changes to fees or access for individual clients.
The takeaway
Consolidation among private capital advisers signals that fundraising and secondary liquidity are increasingly being offered together. Market participants should watch whether the platform's revenue target is met in 2027.
Further reading
Explore more coverage in Business Strategy to see how firms are reshaping their advisory offerings.
