(Bloomberg) -- Lazard Inc. said it hired Jennifer Tedesko as a managing director in its private-capital advisory business, where she’ll focus on originating and advising on private equity secondary transactions.
Holcombe Green, global head of Lazard private-capital advisory, said in an interview that his group has seen significant demand from West Coast clients for its services, which include assisting with fundraising and advising on secondaries deals. The group has concentrated its presence in the region on San Francisco, where Tedesko is based.
Lazard was placement agent on funds including Kingswood Capital Management Fund III and Pacific Avenue Capital Partners I, and it advised on Altamont Capital Partners’ continuation fund for Tacala LLC, a Taco Bell franchisee, and SDC Capital Partners’ continuation fund for its stake in fiber-network platform SummitIG.
The group, which employees roughly 100 professionals, is a “growth engine” for Lazard, Green said. He said he expects to hire about a dozen bankers across all ranks over the next six months to maintain and grow market share in the increasingly active secondaries market.
In a September report, Lazard said secondaries volume is on track to reach $150 billion this year, exceeding the $109 billion for 2023 and eclipsing the prior annual record of $126 billion set in 2021.
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