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November 2, 2021

Investment bank Lazard in discussion to buy hedge fund firm Brigade

By Verdict Staff

US-based investment bank Lazard is reportedly in discussions to buy hedge fund firm Brigade Capital Management to accelerate its expansion into the credit segment.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
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by GlobalData
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Brigade is about to sign the deal with Lazard, Bloomberg reported citing people with knowledge of the matter.

New York-headquartered Brigade, led by Don Morgan, is said to manage $30bn in assets.

The firm led talks for control of a number of companies in bankruptcy or about to default, including Guitar Centers and IHeartMedia.

According to sources, Brigade will be absorbed into the bank’s asset management division if the deal goes through. The business managed over $270bn in client assets as of this September.

A Brigade spokesman declined to comment on the news while Lazard representative didn’t immediately respond to the news agency’s requests for comment.

In 2019, Lazard Asset Management offloaded its Alternative Emerging Markets multi-manager (AEM) business to US-based specialised asset management firm The Rohatyn Group.

The same year, the unit revealed plans to axe 7% of its jobs following a review of the business.

Meanwhile, the news on Lazard’s potential acquisition comes at a time when financial companies are seeking to tap into alternative investments in search of higher returns and a rapidly evolving market.

Last week, T. Rowe Price brokered a $4.2bn deal to buy alternative credit manager Oak Hill Advisors as part of its strategy to expand beyond mutual fund business.

This week, Franklin Templeton struck a deal to scoop up private equity fund manager Lexington Partners for $1.75 bn in cash. The deal is expected to bring alternative assets under management to $200bn.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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