Listed Private Markets
A simple, liquid solution for investors seeking to capture the performance and growth of private markets
Bridging the Gap Between Public and Private
Private markets have grown rapidly as investors look beyond traditional equities and bonds for diversification and long-term return potential.
However, investing directly in traditional private market funds can be complex, time consuming and require a tolerance for illiquidity.
The challenge remains: how can investors access the performance and growth potential of private markets through a liquid solution?
Public Access with Private Market Potential
The Lazard Listed Private Markets Strategy provides diversified exposure to private markets by investing in a portfolio of publicly listed companies whose long-term growth and performance is inextricably driven by private markets. These companies include private equity, credit, infrastructure and real estate focused investment companies and private market asset managers.
All holdings in the strategy are traded on major global stock exchanges, allowing investors to benefit from daily pricing and liquidity. Public market volatility can create opportunities for active management, with investee companies often trading at discounts to the intrinsic value of their underlying assets. Such discounts can offer an attractive entry valuation relative to other means of investing in private markets and have the potential to enhance long-term returns if they narrow through time.
Invest in Listed Companies
Invest in publicy listed companies around the world that own and manage private assets.
Exposure to Private Markets
Diversified exposure to the growth and performance of private equity, credit, infrastructure and real estate.
Opportunity
Daily trading and pricing, with opportunities to invest at discounts during market volatility.
Access A Range of Private Market Opportunities
The strategy provides exposure to several private market sectors including:
Why Lazard Listed Private Markets?
Key benefits include:
- Liquidity: Daily pricing and liquidity through exchange traded securities
- Diversification: Diversified exposure to established private assets
- Value: Potential to invest in high quality assets trading below their true value
Rigorous, Research-Led Approach
The team uses fundamental analysis to identify 25-35 holdings. Each investment is selected based on the quality of the underlying
asset, experience of the management team, and its long-term growth potential.
The portfolio is diversified across all private market sectors, geographies, and currencies, while minimising exposure to any single management group.
Experienced Investment Team
The strategy is managed by the Lazard Discounted Assets team. The team has an average 27 years’ average industry experience investing in listed securities, both public and private assets.
Get In Touch
Explore how our Listed Private Markets Strategy can support your investment goals.
Related Insights
Important Information
Securities and instruments of infrastructure companies are more susceptible to adverse economic or regulatory occurrences affecting their industries. Infrastructure companies may be subject to a variety of factors that may adversely affect their business or operations, including additional costs, competition, regulatory implications, and certain other factors.
This document reflects the views of Lazard Asset Management LLC or its affiliates ("Lazard") based upon information believed to be reliable as of the publication date. There is no guarantee that any forecast or opinion will be realized. This document is provided by Lazard for informational purposes only. Nothing herein constitutes investment advice or a recommendation relating to any security, commodity, derivative, investment management service, or investment product. Investments in securities, derivatives, and commodities involve risk, will fluctuate in price, and may result in losses. Certain assets held in Lazard’s investment portfolios, in particular alternative investment portfolios, can involve high degrees of risk and volatility when compared to other assets. Similarly, certain assets held in Lazard’s investment portfolios may trade in less liquid or efficient markets, which can affect investment performance. Past performance does not guarantee future results. The views expressed herein are subject to change, and may differ from the views of other Lazard investment professionals.
This document is intended only for persons residing in jurisdictions where its distribution or availability is consistent with local laws and Lazard’s local regulatory authorizations. Please visit www.lazardassetmanagement.com/globaldisclosure for the specific Lazard entities that have issued this document and the scope of their authorized activities.