Lazard's private equity team disbands
Investment bank Lazard is to close down its European private equity business, Lazard European Private Equity Partners.
The division, which was focused on mid-market buy-outs, has already seen the departure of is head, Graham Keniston-Cooper, as well as other team members including Alex Cooper-Evans and Victor Vadaneaux, the Times reports.
Lazard is not the only investment bank to venture into the private-equity pool only to retreat shortly afterwards, or to limp onwards with some difficulty according to the paper. Goldman Sachs' private equity division has struggled to gain support because of conflicts of interest with the bank's mergers and acquisitions advisory business.
