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Lazard, Inc. (symbol: LAZ) is one of the world’s leading financial advisory and asset management firms. With a history that dates back to 1848, Lazard operates in 43 cities across 27 countries, including North America, Europe, Asia, Australia, Central, and South America. The firm's global presence and long-standing reputation make it a significant player in the financial services industry.
Lazard offers a wide array of services, including advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance. The company also provides comprehensive asset management services to corporations, partnerships, institutions, governments, and individuals. Notably, the firm’s revenue is nearly evenly split between financial advisory and asset management, with a strong emphasis on international equities in their asset management division.
The company's asset management business, which constitutes over 80% of its assets under management, is primarily focused on institutional clients. Geographically, Lazard generates approximately 60% of its revenue from the Americas, 35% from the EMEA region, and 5% from the Asia-Pacific.
With over 3,000 employees worldwide, Lazard continues to thrive by leveraging its deep industry expertise and global network. The firm's current projects and partnerships demonstrate its ongoing commitment to delivering high-value financial solutions. For the latest updates and relevant information about Lazard’s performance, events, and developments, you can follow their social media disclosures.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) of approximately $264.9 billion as of March 31, 2021. This figure reflects market appreciation of $8.2 billion, net outflows of $0.8 billion, and foreign exchange depreciation of $3.2 billion. The average AUM for the quarter stood at $261.5 billion. The equity segment showed a growth from $209.8 billion to $215.5 billion, while fixed income decreased from $45.6 billion to $44.2 billion.
Lazard Ltd (NYSE: LAZ) announced that Lazard Fintech Acquisition Corp. I (LFTA) and Lazard Healthcare Acquisition Corp. I (LHCA) have filed registration statements with the SEC for proposed initial public offerings of 25,000,000 units each at $10.00 per unit. Each unit consists of one Class A ordinary share and one-fifth of a redeemable warrant. The offerings are distinct and not dependent on one another, with no assurance on completion. Goldman Sachs is the book-running manager for both offerings. The registration statements are pending effectiveness.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) as of February 28, 2021, totaling approximately $260.7 billion. Key factors contributing to this figure include market appreciation of $5.6 billion, net inflows of $0.2 billion, and foreign exchange depreciation of $0.3 billion. The AUM breakdown reveals $209.8 billion in equity, $45.6 billion in fixed income, and $5.3 billion in other assets. The report emphasizes Lazard's commitment to delivering financial advisory and asset management services globally.
Lazard Growth Acquisition Corp. I successfully closed its initial public offering, issuing 57,500,000 units at $10.00 per unit, with additional units purchased by the underwriter. The units are listed on Nasdaq under the symbol LGACU, comprising one Class A ordinary share and one-fifth of a warrant, exercisable for a Class A share at $11.50.
The Company aims to engage in mergers and acquisitions in various sectors, notably healthcare, technology, and energy transition, without geographic limitations.
Lazard Ltd (NYSE: LAZ) announced preliminary assets under management (AUM) of approximately $255.2 billion as of January 31, 2021. This figure reflects a decrease due to market depreciation of $1.2 billion, foreign exchange depreciation of $1.1 billion, and net outflows of $1.1 billion. The AUM comprises $206.2 billion in equity, $43.9 billion in fixed income, and $5.1 billion in other assets. Comparatively, total AUM was $258.6 billion on December 31, 2020.
Lazard Growth Acquisition Corp. I has announced the pricing of its initial public offering, consisting of 50,000,000 units at $10.00 each. The units, including a Class A ordinary share and a redeemable warrant, will start trading on Nasdaq under ticker symbol 'LGACU' on February 10, 2021, with the offering expected to close on February 12, 2021. The company aims to pursue opportunities in various sectors such as healthcare and technology. Goldman Sachs is the sole book-runner, with an option for over-allotments of 7,500,000 units.
Lazard Ltd (NYSE: LAZ) reported annual operating revenue of $2,524 million for 2020, slightly down 1% from 2019. Adjusted net income was $410 million, or $3.60 per share, marking a 7% increase from the prior year. In Q4 2020, adjusted net income reached $192 million, a 147% surge year-over-year. Financial Advisory revenue was $1,403 million, up 3%, while Asset Management revenue fell 4% to $1,111 million. The firm returned $365 million to shareholders in 2020. They ended the year with $259 billion in assets under management, a 4% increase from 2019.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is set to be paid on March 2, 2021, to stockholders recorded as of February 19, 2021. This decision reflects the company’s ongoing commitment to returning value to shareholders while maintaining a strong financial position.
Lazard Growth Acquisition Corp. I announced the public filing of a registration statement on Form S-1 with the SEC for a proposed IPO of 50 million units at $10 each. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with plans to list on Nasdaq under the symbol 'LGACU'. The Company, a blank check entity, aims to acquire businesses in growth-oriented sectors such as healthcare and technology, but is not limited to any specific industry. Goldman Sachs acts as the lead manager for the offering, which remains subject to market conditions.
Lazard Ltd (NYSE: LAZ) will announce its full-year and fourth-quarter 2020 financial results on February 5, 2021. The press release will be accessible on Lazard's website. An 8:00 a.m. EST conference call will follow to discuss the results, available via live audio webcast. For those unable to attend, a replay will be offered later that day. Lazard, a key player in financial advisory and asset management, operates in over 40 cities across 25 countries, providing services related to M&A, restructuring, and capital raising.
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