Wasserstein Mulls Lazard Unit Float

The FT reports that Bruce Wasserstein, chief executive of Lazard, hinted in an interview with the newspaper that the firm is considering floating its asset management businesses and could receive up to $2bn from such a move.

Lazard Asset Management is currently ranked 56th out of 130 UK fund managers and Wasserstein hinted that a float of the unit would be one way partners could unlock equity in the business.

Wasserstein is believed to want to prepare the business as a whole for sale in the next three years. He has also confirmed that he wishes to build up the firm's European equity presence at a time when many rivals are downsizing in this area.

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