Investment Banking

How Abu Dhabi’s wealth fund made a play for Lazard

Talks to go private stalled on issue of operational independence, according to report

Incoming boss Peter Orszag is planning to shake up Lazard after aborted deal talks with ADQ
Incoming boss Peter Orszag is planning to shake up Lazard after aborted deal talks with ADQ Photo: AFP via Getty Images

ADQ, Abu Dhabi’s sovereign wealth fund, had Wall Street investment bank Lazard in its sights earlier this year, with ambitions to take it private.

The discussions were held between Lazard’s outgoing chief executive Ken Jacobs and ADQ’s chair Sheikh Tahnoon bin Zayed al-Nahyan, according to the Financial Times.

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