Lazard acquired Truvvo Partners, a transaction completed in March 2023, structured as Acquisition; Truvvo joined Lazard Asset Management and its business was combined with LAM's U.S. private client operations under the new Lazard Family Office Partners brand..
Truvvo Partners operates in Asset and Wealth Management (Lazard Asset Management), is based in United States (New York). Truvvo Partners is a U.S.-based firm, with approximately $3.8 billion of assets under management, that provides strategic advice, wealth planning, and investment management to families. Lazard Asset Management acquired Truvvo and combined it with LAM's existing U.S. private client business to form Lazard Family Office Partners, a unit managing roughly $8 billion in assets that integrates investment management, risk management, and family office services into a single offering.
Expand Lazard's wealth and family office capabilities amid rising demand for sophisticated wealth management solutions, complementing Lazard's global investment franchise with Truvvo's open-architecture platform and private markets expertise and lifting the firm's global wealth management AUM to roughly $22 billion.
Advisory firms were not disclosed for this transaction.