Performance RIC Watch

RIC Watch: Planned Lazard fund to cater to tax reporting legislation


Lazard Alternatives Strategies Fund

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 (see table).

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