FX.co ★ Lazard, Elaia Partners In Deal To Form French Asset Management Firm Lazard Elaia Capital

Lazard, a firm specializing in financial advisory and asset management, revealed on last Thursday that a partnership agreement has been signed with Elaia Partners, a European venture capital firm. This agreement is for the establishment of a new asset management company known as Lazard Elaia Capital or LEC, based in Paris.

Within the terms of the strategic partnership, Lazard has acquired a minority share in Elaia Partners. Moreover, the agreement holds an option for Lazard to progressively buy up to full ownership in the future.

However, the partnership is still waiting for regulatory approval and AMF registration.

The newly formed company, which will concentrate on investing in technology companies, aims to support these businesses throughout all stages of their lifecycle, ranging from their initial launch to public listing.

This partnership announcement comes on the heels of exclusive negotiations between Lazard and Elaia Partners that were discussed in December 2023.

The ownership of the new LEC will be split between Lazard, holding a 75% stake, and Elaia Partners, holding the remaining 25%. The company will be spearheaded by Xavier Lazarus, a co-founder and Managing Partner at Elaia Partners, complemented by a freshly recruited investment team.

Aiming to have an initial fund that emphasizes Europe, the goal is to launch it by 2025, but this remains dependent on regulatory approval.