Lazard Asset Management Expands Family Office Business with Truvvo Partners Acquisition

Lazard Asset Management, a subsidiary of Lazard Ltd that manages $216 billion in assets, will acquire Truvvo Partners, a New York-based family office investment manager led by CEO and CIO Casey Whalen.

Truvvo, which has $3.8 billion in assets and does financial planning for wealthy families, will join the existing private client group at the asset manager to form Lazard Family Office Partners. Combined they will have $8 billion in assets and provide advice and investment solutions across public and private markets.

“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,” said Whalen.

The acquisition increases Lazard’s global wealth management assets, including those handled by the company’s European wealth management division, to around $22 billion.

Truvvo’s team includes Partners Whalen, Jerome Antenen, Alison Rosenzweig, Caitlin Reynolds and Danielle Roseman, and will be based in the New York office.