Lazard announces expansion of alternative investment platform

Press releases — New York

October 15, 2020

NEW YORK – October 15, 2020 - Lazard Asset Management LLC (“LAM”) today announced the expansion of its alternative investment platform, with the addition of a New York-based team and their long/short credit strategy. Sal Naro, Vincent Mistretta, Michael Cannon and Sanjay Aiyar have joined LAM from Coherence Capital Partners, forming the Lazard Coherence investment team.

“Sal and his team bring a wealth of investment experience and a unique approach to investing in credit markets. The addition of their credit capabilities is complementary to our growing alternatives business as well as our existing fixed income offerings,” said Loren Katzovitz, Managing Director, who leads the expansion of LAM’s alternative investment platform.

The Lazard Coherence Long/Short Credit Strategy, previously offered to investors in the Coherence Capital Spectrum Funds, actively identifies long and short bond positions based upon the philosophy that fixed income markets are an extension of equity markets. Combining this philosophy with fundamental and quantitative research capabilities, the team seeks to achieve differentiated and consistent absolute returns. The strategy focuses on investment grade, crossover and high yield fixed income markets, predominantly in North America and Europe.

“Our team is happy to have found a strong culture fit at Lazard and we are excited about our ability to grow our business within the firm,” said Sal Naro, Managing Director and Portfolio Manager. “In addition to the enhanced infrastructure and resources that will be available to us, the ability to leverage the firm’s extensive global investment platform will bolster the fundamental research that goes into our security selection process.” As of June 30, 2020, Lazard’s Alternative Investment Platform managed approximately $4.5 billion in client assets.

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates in North and South America, Europe, Asia and Australia. Celebrating its 175th year, the firm provides advice on mergers and acquisitions, capital markets and other strategic matters, restructuring and liability management, and asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit Follow Lazard at @Lazard.