The firm's five evergreen vehicles, including a private equity secondaries fund, reached €8.2 billion in aggregate value in Q3.
The Luxembourg-domiciled fund, administered by fundcraft, targets annual net returns of 15% to 20% through direct, follow-on, and select secondary investments.
The combined Lazard CL platform is expected to generate roughly $500 million in revenue in 2027, bringing together primary fundraising, secondary advisory, and GP capital advisory capabilities.
A key architect of the firm's secondaries strategy and broader private markets business, Gruber will succeed Roberto Paganoni in January 2027.
SecondaryLink first reported on the Euronext-listed manager's plans to launch credit & infrastructure secondaries products in July.
