Lazard launches buyout fund and recruits Russo

Lazard has begun fundraising for a E500m European mid-market buyout fund. The group, which set the division up around eight months ago, plans to make investments in companies with enterprise values between E50m and E250m. Additionally, the firm has recruited Michele Russo,who set up Doughty Hanson's Italian office in 1998. She is the fourth partner to be hired by the group.

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