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Lazard Ltd (LAZ) maintains its position as a global leader in financial advisory and asset management through strategic insights and operational excellence. This dedicated news hub provides investors with essential updates on corporate developments, market strategies, and financial performance.
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Lazard, Inc. (NYSE: LAZ) will release its Q4 and full-year 2023 financial results on February 1, 2024. The company will host a conference call to discuss the results, accessible through their website or by phone. A replay will also be available.
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Lazard, Inc. (NYSE: LAZ) reported preliminary assets under management of approximately $246.7 billion as of December 31, 2023. The AUM included market appreciation of $8.5 billion, foreign exchange appreciation of $2.0 billion, and net inflows of $0.2 billion. The preliminary average assets under management for the quarter ended December 31, 2023, were $233.9 billion.
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Lazard Global Total Return and Income Fund, Inc. (LGI) confirms a monthly distribution of $0.10459 per share, equivalent to 7% annualized of its net asset value, payable on January 22, 2024. The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of approximately 60 to 80 US and non-US equity securities, including American Depository Receipts, generally of companies with market capitalizations greater than $2 billion, and may include investments in emerging markets. Lazard Asset Management, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of November 30, 2023, LAM and affiliated asset management companies in the Lazard Group managed $235.9 billion worth of client assets.
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Lazard, Inc. (NYSE: LAZ) has completed its conversion from a publicly traded partnership to a U.S. C-Corporation under Delaware Law and changed its name from Lazard Ltd to Lazard, Inc., effective January 1, 2024. Shareholders will now receive dividends for U.S. tax purposes, and a final Schedule K-1 will be issued to shareholders of record in 2023 in March 2024. Peter R. Orszag, CEO of Lazard, emphasized the benefits of the conversion, including expanding the shareholder base, simplifying tax reporting, and enhancing trading liquidity.
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Lazard Global Total Return and Income Fund, Inc. (LGI) confirms a monthly distribution of 7.0% of the Fund’s net asset value per share as of December 29, 2023, payable on January 22, 2024, to shareholders of record on January 11, 2024. The distribution sources include net investment income, net realized capital gains, and return of capital. The average annual total return for the 5-year period ending on November 30, 2023, is 8.96%.
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Lazard and Elaia Partners plan to launch a late-stage and growth equity fund focused on Europe and managed by a new jointly owned asset management firm based in Paris. The new entity aims to meet the capital needs of future French and European technology and deep tech leaders, supporting companies at all stages of their development. Led by Xavier Lazarus, co-founder and managing partner of Elaia Partners, the joint effort looks to launch its first European-focused fund as early as 2024. The strategic partnership between Lazard and Elaia Partners expands Lazard’s range of products while benefiting from the expertise and track record of Elaia Partners, enabling Lazard to meet the growing demand of its institutional and private wealth management clients for private assets. The partnership also serves as a natural extension of Elaia Partners’ growth plan to cover later stages of development, while benefiting from Lazard’s global distribution network.
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Lazard Ltd (NYSE: LAZ) reported a preliminary total assets under management (AUM) of approximately $235.9 billion as of November 30, 2023. This included market appreciation of $13.7 billion, foreign exchange appreciation of $3.5 billion, and net outflows of $1.3 billion. The breakdown of AUM by asset type included $181,386 million in equity, $46,491 million in fixed income, and $8,047 million in other assets.
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Lazard Asset Management (Lazard) is pleased to announce that Sean Gallagher has joined the firm as Global Head of Lazard’s Small Cap Equity platform. Based in New York, Mr. Gallagher will have oversight of Lazard’s small cap strategies and will be responsible for leading the business through its next phase of growth. Scott Kolar also joins Lazard’s US Small Cap Equity Select team as a Portfolio Manager/Analyst. Lazard manages approximately $3bn across its four small cap strategies.
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Lazard Global Total Return and Income Fund, Inc. (LGI) confirms a monthly distribution of $0.09339 per share on its common stock. The distribution is payable on December 22, 2023, to shareholders of record on December 12, 2023, with an ex-dividend date of December 11, 2023. The Fund has also paid a previously declared distribution on November 22, 2023. The distribution breakdown includes 45% from net income, 0% from net realized short-term capital gains, 0% from net realized long-term capital gains, and 55% from return of capital. The average annual total return for the 5-year period ending on October 31, 2023, was 7.46%. The annualized current distribution rate as a percentage of NAV as of October 31, 2023, was 7.22%. The cumulative total return for the fiscal year through October 31, 2023, was 2.50%, and the cumulative fiscal year distributions as a percentage of NAV as of October 31, 2023, was 3.01%.
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Lazard Ltd (NYSE: LAZ) to Participate in Fireside Chat at Goldman Sachs U.S. Financial Services Conference on December 5, 2023
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