Apollo Management and Lazard Group are forming a partnership to make private equity investments in Europe, said Jonathan Gasthalter, Apollo spokesman.
The strategic partnership is not exclusive; Lazard and Apollo will continue to work with other financial advisory and private equity firms, respectively.
Mr. Gasthalter declined to provide any further details. However, a person familiar with the transaction said Lazard will help Apollo source deals in Europe and Apollo will provide the private equity expertise. The partnership will have a dedicated team based in London and is expected to start business in September.