Lazard Q1 Net Revenue Up 17% to $757M, Asset Management Flows Hit $9B
LAZ•Lazard’s Q1 net revenue rose 17% to $757 million with adjusted net revenue up 5% to $673 million and net income up 67% to $101 million. Asset Management revenue surged 42% to $410 million on $9 billion inflows, AUM climbed 14% to $259 billion and Campbell Lutyens adds $500 million.
1. Q1 Financial Results
Lazard reported first-quarter net revenue of $757 million, a 17% year-over-year increase, with adjusted net revenue of $673 million, up 5%. Net income rose 67% to $101 million, or $0.91 per diluted share, compared to $60 million in Q1 2025.
2. Asset Management Performance
Asset Management net revenue climbed 42% to $410 million, driven by $296 million in adjusted management fees and $11 million in incentive fees. Positive net inflows of $9 billion, market appreciation and AUM growth lifted ending assets under management to $259 billion, a 14% increase.
3. Campbell Lutyens Acquisition and Outlook
On April 30, Lazard agreed to acquire Campbell Lutyens, targeting approximately $500 million in combined revenue by 2027 and bolstering its global primary and secondary advisory platform. The firm added 28 net Managing Directors to Financial Advisory over the past year and expressed an optimistic M&A pipeline outlook.
