Lazard announces $660M Campbell Lutyens acquisition, sells Edgewater stake

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

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  Lazard agreed to acquire Campbell Lutyens, a private markets advisor, for up to $660 million ($460M initial + $115M deferred + $85M earn-out). Transaction expected to close H2 2026, expanding Lazard's fund placement and GP capital advisory capabilities.

  MD&A: Campbell Lutyens acquisition verify on EDGAR →
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  Lazard sold controlling stake in Edgewater on February 13, 2026, resulting in deconsolidation and $47 million reduction in stockholders' equity. Edgewater no longer consolidated in Asset Management segment.

  MD&A: Edgewater deconsolidation verify on EDGAR →
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  Q1 2026 completed M&A transaction value rose 52% year-over-year to $1.3 trillion, with deals over $500M up 70%. Restructuring activity fell 68% to $31 billion, reflecting stronger M&A environment and weaker distress cycle.

  MD&A: M&A and restructuring statistics verify on EDGAR →