EXCLUSIVE: Sarah Sandström leaves Atlantic-Pacific Capital for Lazard

It isn’t yet clear what role or title Sandström has at Lazard; at press time Buyouts was unable to reach her for comment. The investment bank does have a fund placement business. As of last spring, the Private Fund Advisory Group at Lazard was one of the largest such businesses in the industry, capable of raising some eight to 12 private equity funds and five to seven real estate funds at any one time, according to a May 2013 article in Buyouts. Key executives at the time included Managing Directors Holcombe Green, William Riddle, Daniel Rudgers and Michael Sutka. That article reported on the then pending departure of London-based Ben Sullivan as managing director and co-head (along with Riddle).

Sandström, who left Atlantic-Pacific Capital toward year-end, joined the firm about three and a half years ago after spending more than a decade in the fund placement group at Credit Suisse (including her time at Donaldson, Lufkin & Jenrette prior to its acquisition by Credit Suisse). Based in the London office of Atlantic-Pacific Capital, Sandström was one of four partners responsible for project management, which involves client relations and the day-to-day coordination of sales. One of the projects she worked on appears to be about to come to fruition: Boston-based Falcon Investment Advisors is expected to hit the $900 million hard cap on mezzanine fund Falcon Strategic Partners IV LP within the next few weeks, ahead of its $850 million target, according to a source close to the situation.

That same source said that the firm is still evaluating whether to replace Sandström. The remaining partners handling project management are Alexander Leykikh in Greenwich, Victor Manuel in New York and Jennifer Tedesko in San Francisco. Altogether the firm lists 37 professionals on its website’s “team” page, with key executives including Mark Bourgeois, CEO and president; and James Manley, chairman. One its more recent hires: Principal Peter Larsen, who joined last spring from Hamilton Lane to head a due diligence team.

Based in Greenwich, Connecticut, Atlantic-Pacific Capital has raised some $50 billion for sponsors since it began placing funds in 1995, according to the 2013 Guide to Secondary Buyers & Placement Agents, published by Thomson Reuters.