Lazard Asset Management has launched the Lazard Listed Private Markets Fund, a Ucits fund providing a liquid solution for investors to capture the long-term performance and growth of private market asset classes such as private equity, credit, infrastructure and real estate.
The fund will invest exclusively in listed companies on major global exchanges whose long-term performance is tied to private markets. These include investment trusts, closed-end funds, business development companies, real estate investment trusts, and private market asset managers.
With a portfolio of 25-35 holdings, the fund aims to deliver long-term capital growth, with income as a secondary return component. Offering daily dealing and pricing, it provides liquidity and access to private markets for investors who may otherwise be unable to invest directly in these asset classes.
Alfi private markets conference to focus on four key themes this year
Focusing on identifying companies trading at a discount to their intrinsic value, the asset manager aims to unlock additional value through constructive engagement with company boards and management, working to reduce these discounts over time for the benefit of all investors.
“The launch reflects a natural extension of our existing strategies and is a solution for investors seeking diversified exposure across private markets, with the benefits of regular liquidity,” said Andrew Lister, director and portfolio manager responsible for the fund.
The fund will be run by the asset manager’s discounted assets team, which has managed the firm’s existing global, international and emerging markets discounted asset strategies for over 30 years.
