Lazard had $124.8 billion in assets under management as of March 30, according to a regulatory filing today. AUM increased 13% for the quarter and 31% for the year. The increase was largely driven by equity assets, which totaled $105.5 billion as of March 30, up 14% for the quarter and up 35% for the year. The company also reported $11.6 billion in net inflows for the quarter.
Overall, Lazards asset management business reported $146.9 million in operating revenues for the quarter, down 16% for the quarter but up 23% for the year.