Lazard Alternatives, which has $844 million under management
and is a subsidiary of Lazard Asset Management, is set to
launch the Lazard Multi-Strategy 1099 Fund specifically
designed to cater to the need for 1099 tax reporting in the US.
By default, the new fund is likely to be free of the five
managers currently in the portfolio that have gated or
suspended redemptions, or represent a restricted investment
Only 20% of the 30 underlying managers of the flagship
Lazard Alternative Strategies Fund have some form of
outstanding liquidity restriction and all but the Blue Mountain
Credit Alternatives Fund have a minuscule residual holding in
the portfolio. Blue Mountain, one of 10 managers in the
relative value allocation, makes up 4.11% of the entire
portfolio, while Bear Stearns Structured Risk Partners Fund
still has a...