Lazard Asset Management, a subsidiary of Lazard Ltd., has acquired Truvvo Partners, a U.S.-based firm focused on providing strategic advice, wealth planning and investment management with $3.8 billion of assets under management.

Truvvo and LAM have formed Lazard Family Office Partners, which combined will manage approximately $8 billion in assets, including LAM’s existing U.S. private client business. It will offer advice and investment services across public and private markets. Lazard Family Office partners will integrate investment management, risk management and family office services into one offering. As a result of Truvvo joining LAM, the firm’s global wealth management AUM, including assets managed across the firm’s European wealth management business, will total approximately $22 billion.

“We believe leveraging Lazard’s expertise, infrastructure and resources will strengthen our platform and enable a holistic approach, allowing us to better serve our clients,” comments Casey Whalen, chief executive officer and chief investment officer of Truvvo Partners.