Lazard launches TMT hedge fund

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Lazard Asset Management, an indirect subsidiary of investment bank Lazard, has launched a technology, media and telecommunications (TMT)-focused hedge fund.

The firm, which has offered hedge funds for 15 years, now manages more than $4 billion in 12 hedge funds, and $142 billion in total client assets across all asset management products.

Lazard seeded its latest fund, Lazard TMT Advantage, two years ago, and is now opening it to outside investment. The fund, which has been operating with less than $25 million of the firm’s capital, is co-managed by Kevin Smithen and Anand Srinivasan, who are both directors