Deals
Lazard Hunts for Private-Credit Acquisition to Boost Asset Management
- CEO Peter Orszag points to infrastructure, real estate sectors
- Acquisition could help meet goal of doubling revenue by 2030
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Lazard Inc. is weighing several opportunities to acquire a private-credit firm that would help expand its $250 billion asset-management arm, becoming the latest Wall Street bank to seek inroads in the buzzy sector.
The company will be cautious, but it’s “in the mix, evaluating lots of options” in private markets, Chief Executive Officer Peter Orszag said in a Bloomberg Television interview Thursday. Lazard is most likely to acquire firms involved in private credit, infrastructure, real estate and other areas in private markets where it doesn’t yet have much of a presence, he said.