# Lazard Asset Management LLC

> Lazard Asset Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2002, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 122836
- Filed as: LAZARD ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/122836
- AdvisorCensus page: https://advisorcensus.com/firm/lazard-asset-management-llc-new-york-ny-122836

## Quick answers

**How is Lazard Asset Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Lazard Asset Management LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Lazard Asset Management LLC located?**
Lazard Asset Management LLC's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Lazard Asset Management LLC registered with the SEC or a state?**
Lazard Asset Management LLC is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 122836.

**How much does Lazard Asset Management LLC manage?**
Lazard Asset Management LLC reports $120,519,820,270 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (97% discretionary).

**How have Lazard Asset Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Lazard Asset Management LLC: Regulatory assets under management: $168,016,320,214 in the October 2021 data and $120,519,820,270 in the October 2026 data, down 28%. Total employees: 478 in October 2021 and 532 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lazard Asset Management LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (3,592); high net worth individuals (595); corporations or other businesses not listed above (339).

**Which custodians does Lazard Asset Management LLC use?**
Lazard Asset Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Brown Brothers Harriman & Co., JPMorgan Chase Bank, N.A., State Street Bank and Trust Company and The Bank of New York Mellon as custodians holding 10% or more of its separately managed account assets.

**Does Lazard Asset Management LLC report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/122836

**What changed in Lazard Asset Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 241 to 240. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Brown Brothers Harriman & Co.
- JPMorgan Chase Bank, N.A.
- State Street Bank and Trust Company
- The Bank of New York Mellon

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $120,519,820,270
- Discretionary: $116,480,931,796
- Non-discretionary: $4,038,888,474

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 3,592 | $1,099,495,353 |
| High net worth individuals | 595 | $6,011,282,036 |
| Banking or thrift institutions | 216 | $25,181,668,885 |
| Investment companies | 30 | $23,520,031,959 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 81 | $13,066,921,101 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 29 | $3,151,884,769 |
| Charitable organizations | 141 | $1,975,589,496 |
| State or municipal government entities (including government pension plans) | 54 | $21,497,219,597 |
| Other investment advisers | 25 | $14,630,626,570 |
| Insurance companies | 8 | $1,119,442,084 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 |
| Corporations or other businesses not listed above | 339 | $9,265,658,420 |
| Other | Fewer than 5 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2002 (23 years)
- Employees: 532 total, 240 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/122836

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Boston, MA
- San Francisco, CA

### Websites listed on Form ADV (Item 1.I)
- lazard.com
- lazardassetmanagement.com
- Facebook @LazardAssetManagement
- LinkedIn @LAZARD-ASSET-MANAGEMENT
- X @LazardAsset
- YouTube @LazardAssetManagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $168,016,320,214 | 478 | August 23, 2021 |
| October 2022 | $177,174,701,119 | 532 | June 13, 2022 |
| October 2023 | $132,049,654,380 | 532 | May 23, 2023 |
| October 2024 | $150,331,817,279 | 518 | July 17, 2024 |
| October 2025 | $128,878,312,897 | 507 | May 23, 2025 |
| October 2026 | $120,519,820,270 | 532 | March 30, 2026 |

Regulatory assets under management: $168,016,320,214 in the October 2021 data and $120,519,820,270 in the October 2026 data, down 28%.
Total employees: 478 in October 2021 and 532 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 241 to 240.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

### January 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lazard Asset Management LLC (CRD 122836): Form ADV filing data as of October 2026.