Lazard enters the buyout arena

Lazard has announced plans to enter the private equity arena, according to articles in the financial press. The firm has reportedly hired Graham Keniston-Cooper, a partner at Cinven, and Victor Vadaneaux, formerly a partner at Advent International, to head up a pan-European private equity firm targeting companies with an enterprise value of up to E750m. In addition to the previous, press articles have outlined the likelihood of the division launching a pan-European buyout fund. The move comes as a surprise to the investment banking community, as many banks have openly disassociated themselves with private equity in recent times.

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