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Asset/Investment Management
FINANCIAL | Asset/Financial Management
lazard.com

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Investments

4

Portfolio Exits

5

Partners & Customers

3

About Lazard Frères & Co.

Lazard Frères & Co. (NYSE:LAZ), a financial advisory and asset management firm that operates across 26 countries in North America, Europe, Asia, Australia, and Central and South America.

Lazard Frères & Co. Headquarter Location

30 Rockefeller Plaza

New York, New York, 10112,

United States

212-632-6000

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Latest Lazard Frères & Co. News

Beaten-down airline stocks celebrate easing of travel rules

Sep 26, 2021

Advertisement Investors should look “very seriously” at so-called reopening sectors such as travel, said Alan Custis, head of UK equities at Lazard Asset Management. “The opportunities now, one would argue, are much, much better, perversely, than they would have been probably if the pandemic hadn’t happened.” That was because excess capacity in aircraft, hotel rooms and restaurants had been eliminated, Mr Custis said. “There’s been a sea change.” A similarly positive stance is held by Mamta Valechha, an analyst at Quilter Cheviot, which manages about £25 billion ($47.1 billion). “We do continue to see value in the travel sector, particularly airlines which have been hit the hardest and are still way off their 2020 peaks,” Ms Valechha said. Investors will need patience Positive news is starting to gather pace. The relaxation of US rules led to a surge in bookings from Europe. Air France-KLM reported a spike in Christmas bookings, while Lufthansa was upgraded at Goldman Sachs. And while analysts have been slow to raise estimates for airlines, consensus is on an upward slope. Data compiled by Bloomberg suggests the sector could be profitable again within about a year. Advertisement Other areas of the travel industry are also showing better signs. Tour operator TUI AG added 10 per cent in three days after Britain said on September 17 that it would scale back testing requirements and simplify its country risk rankings. Booking software provider Amadeus IT Group SA, airport retailer WH Smith and hotelier Accor SA are among other stocks that have rebounded, although all remain well below pre-pandemic levels. Still, investors may need to be patient. “Travel stocks are a next year story,” said Alasdair McKinnon, lead manager of Scottish Investment Trust. “This year has already gone, from a leisure travel perspective, as the main holiday season has passed.” The shift towards working from home, meanwhile, is still having a knock-on effect for travel earnings, according to Ms Valechha, who estimates corporate passengers make up 30 per cent to 60 per cent of airline revenue. “There remains much uncertainty when this will recover given the advancements in technology to do business remotely,” she said. COVID-19’s resurgence in key Asian destinations also poses a risk for some firms, such as London-listed InterContinental Hotels Group, according to Hannah Gooch‑Peters, an equity investment analyst at Sanlam UK, which manages about £4.9 billion. Advertisement Sanlam holds travel stocks such as IHG, but reduced its exposure in February. “The valuations of these companies are not looking that compelling,” Ms Gooch‑Peters said. “What we need is a more synchronised recovery, globally, for these stocks to really see a big increase from here.” For Gavin Launder, a fund manager at Legal & General Investment Management, investors looking at airline stocks need to be able to trust that the next reopening wave will not be followed by another setback. “I think it’s very clear that people want to travel,” Mr Launder said. “So that will be a good trade at some point, but we need that confidence that it’s going to be a bit more than a false start.” Bloomberg

Lazard Frères & Co. Investments

4 Investments

Lazard Frères & Co. has made 4 investments. Their latest investment was in TravelFlan as part of their Series A on December 12, 2019.

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Lazard Frères & Co. Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/16/2019

Series A

TravelFlan

$7M

Yes

2

10/16/2019

Seed VC

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$99M

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10

1/7/2010

Series B

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$99M

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10

5/23/2007

Corporate Minority

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$99M

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10

Date

12/16/2019

10/16/2019

1/7/2010

5/23/2007

Round

Series A

Seed VC

Series B

Corporate Minority

Company

TravelFlan

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Amount

$7M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

10

Lazard Frères & Co. Portfolio Exits

5 Portfolio Exits

Lazard Frères & Co. has 5 portfolio exits. Their latest portfolio exit was Lazard Asset Management - Alternative Emerging Markets on November 18, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/18/2019

Divestiture

1

00/00/0000

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10

00/00/0000

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10

00/00/0000

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$991

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10

00/00/0000

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10

Date

11/18/2019

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Divestiture

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Companies

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Valuation

$991

Acquirer

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Sources

1

10

10

10

10

Lazard Frères & Co. Acquisitions

5 Acquisitions

Lazard Frères & Co. acquired 5 companies. Their latest acquisition was MBA Lazard on October 25, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/25/2016

Corporate Minority

Acquired

2

9/14/2016

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$99M

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10

9/22/2014

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$99M

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10

8/11/2006

Acquired

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$991

$99M

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10

1/7/2004

Acquired

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$991

$99M

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10

Date

10/25/2016

9/14/2016

9/22/2014

8/11/2006

1/7/2004

Investment Stage

Corporate Minority

Acquired

Acquired

Companies

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Valuation

$991

$991

Total Funding

$99M

$99M

$99M

$99M

Note

Acquired

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Sources

2

10

10

10

10

Lazard Frères & Co. Partners & Customers

3 Partners and customers

Lazard Frères & Co. has 3 strategic partners and customers. Lazard Frères & Co. recently partnered with Philips on February 2, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

2/2/2021

Client

Philips

Netherlands

1

4/11/2020

Client

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10

11/28/2019

Client

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10

Date

2/2/2021

4/11/2020

11/28/2019

Type

Client

Client

Client

Business Partner

Philips

Country

Netherlands

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News Snippet

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Sources

1

10

10

Lazard Frères & Co. Team

35 Team Members

Lazard Frères & Co. has 35 team members, including current President, Alexander Stern.

Name

Work History

Title

Status

Alexander Stern

President

Current

Mary Ann Deignan

Managing Director

Current

Jamie Kempner

Managing Director

Current

Eyal Ofir

Managing Director

Current

Anthony Meyer

Extend Health, and Trammell Crow Company

Founder

Former

Name

Alexander Stern

Mary Ann Deignan

Jamie Kempner

Eyal Ofir

Anthony Meyer

Work History

Extend Health, and Trammell Crow Company

Title

President

Managing Director

Managing Director

Managing Director

Founder

Status

Current

Current

Current

Current

Former

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