Lazard and Elaia Partners Forge Alliance to Establish Private Equity Firm

Lazard Asset Management and Elaia Partners have solidified their collaboration through a strategic partnership agreement, paving the way for the launch of a jointly owned private equity company. The venture aims to target late-stage and European growth equity tech firms, bolstering investment opportunities in the technology sector.

Strategic Partnership Details

• The partnership between Lazard Asset Management and Elaia Partners culminates in the creation of a new Paris-based asset management company named Lazard Elaia Capital.
• Lazard will hold a majority stake of 75%, with Elaia Partners owning the remaining 25%.
• Xavier Lazarus, co-founder and managing partner of Elaia Partners, will lead the new entity, supported by an investment team currently under recruitment.
• The primary focus of Lazard Elaia Capital will be on providing capital to emerging technological and deep tech leaders in late-stage and growth equity.
• An initial fund dedicated to Europe is slated for launch by 2025, pending regulatory approvals.

Future Prospects and Expansion

• Lazard's minority acquisition of Elaia Partners leaves room for potential growth, with provisions allowing Lazard to increase its stake to full ownership over time.
• Evan Russo, managing director of Lazard Asset Management, expressed enthusiasm for the partnership's ability to deliver innovative private equity solutions tailored to the burgeoning technology landscape in Europe.
• Regulatory authorities, including the Autorité des Marchés Financiers, will review and approve the initiative, ensuring compliance with financial regulations.

Implications and Outlook

The collaboration between Lazard and Elaia Partners signifies a strategic alignment to capitalize on the thriving technology sector in Europe. By combining their expertise and resources, the partners aim to facilitate the growth and development of promising tech firms, driving innovation and investment opportunities in the region's burgeoning tech ecosystem.