Money Management

Lazard brings on LRV Capital team to manage new international equity strategy

Lazard Asset Management added a four-person team of international value midcap equity managers to its existing lineup of international equity specialists.

The core investment team from LRV Capital Management joined Lazard on Wednesday to manage a new international active concentrated midcap equity strategy for the firm, confirmed Hillary Yaffe, a company spokeswoman.

LRV principals and co-founders Mark J. Rooney and Erik P. Van Der Sande now are Lazard directors and portfolio manager/analysts.

Craig S. Lottner, also an LRV principal and co-founder, assumed the roles of senior vice president and client portfolio manager at Lazard. Chris Torino was research analyst at LRV and now is vice president and research analyst at Lazard, Ms. Yaffe confirmed.

LRV, which Messrs. Lottner, Rooney and Van Der Sande co-founded in 2012, has closed. Stride Capital Management provided seed capital for the launch, a Lazard news release said.

"Substantially all client assets, including those of Stride, previously managed by LRV are transferring to LAM," according to the release.

Ms. Yaffe said she could not provide the size of the assets LRV will bring to Lazard because the information is private.

LRV's assets under management totaled $181 million as of Dec. 31, 2016, showed the firm's most recent investment adviser disclosure filing with the Securities and Exchange Commission.

Lazard Asset Management had a total of $222 billion in assets under management as of Dec. 31, of which approximately $54 million was managed in international equity strategies.