Apollo, Lazard Launch Joint PE Venture
Asset managers push to invest in Europe follows heightened interest in the continent from blank check companies.
August 13, 2008
Apollo Management LP and Lazard Group announced Wednesday a joint venture that will explore European investment opportunities.
It was not made public how much the joint venture would invest, what nations they would target or over what time period the fund would make investments.
“The strategic partnership will leverage both Lazard’s European presence and history of advising on merger and acquisitions transactions, and Apollo’s strong track record in private equity,” their joint statement said.
Recently, Lazard brought Marcel Herter to its organization as the managing director and head of debt advisory for German-speaking nations; he will be based in Frankfurt.
Blank check companies have also made recent expansions into Europe; a Deutsche Bank offering is targeting deals in Switzerland, Austria and Germany.
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