Investment bank Lazard has agreed to acquire Campbell Lutyens, a global placement firm and secondaries adviser, for $575 million. The deal will create a specialized private capital advisory platform called Lazard CL, marking a significant expansion of Lazard's capabilities in infrastructure and credit markets.

Holcombe Green and Gordon Bajnai will serve as co-CEOs of the new entity. The acquisition strengthens Lazard's position across primary and secondary advisory services, GP capital advisory, and adds LP-led secondary capabilities. Campbell Lutyens brings deep expertise in infrastructure and credit that complements Lazard's existing offerings and client relationships.

The transaction creates a formidable player in private capital advisory with specialized knowledge in infrastructure and credit markets. Lazard's move demonstrates the growing importance of specialized advisory services in alternative investments as institutional investors increasingly allocate capital to these asset classes seeking higher returns in a low interest rate environment.