How managers navigated the past three years provides “an opportunity for investors to separate the top private equity firms more easily from the rest of the pack,” according to the system.
For GPs with funds in the market, any extended fundraising delay could cause headaches as they have deadlines to meet, deals to close and employees to pay.
By rolling or converting their commitments, LPs would be able to continue to participate in the $26bn Tao, a unique investment vehicle in the alternative assets world.
The promotions come as Lazard’s capital advisory group continues to expand. It has about 100 professionals in eight offices around the world with an expectation of continued growth.