Lazard completes Campbell Lutyens acquisition, launches Lazard CL

Lazard completed its purchase of London-based private capital advisory firm Campbell Lutyens, combining it with its own private capital advisory business to form Lazard CL. The unit has more than 300 advisers and 19 offices worldwide. Terms were not disclosed in the announcement.

Why it matters: The deal is a milestone in Lazard's 2030 strategy to diversify revenue toward private capital advisory.