On March 1, 2023, Lazard Asset Management announced the acquisition of Truvvo Partners.
Under the terms of the transaction, Lazard Asset Management (“LAM”) has acquired all the assets of Truvvo partners (“Truvvo”). Truvvo will join LAM as part of its new family office division, Lazard Family Office Partners, which will also serve LAM’s existing base of private clients. Financial terms of the deal were not disclosed.
LAM, an indirect subsidiary of Lazard Ltd (NYSE: LAZ), is a New York based investment advisor providing a range of equity, fixed income, and alternative investment products. LAM had $216 billion in assets under management as of December 31, 2022.
Truvvo Partners, based in New York, is a registered investment advisor with approximately $4 billion in assets under management.
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