Lazard has bolstered its private fund advisory group with the appointment of Sarah Sandstrom, a former partner at placement agent Atlantic-Pacific Capital.
Sandstrom, who started last week, has become a managing director in Lazard’s New York office.
Based in Atlantic’s London office, Sandstrom had been a partner and management committee member since 2010. In that role, she was responsible for marketing private equity funds based in Europe.
Previously, she was a director at Credit Suisse Securities which she joined in 1999 when the firm acquired Donaldson, Lufkin & Jenrette (DLJ). She joined DLJ in 1997.
In her 13 years at Credit Suisse/DLJ, Sandstrom led 15 fundraisings and played a key role in an additional nine transactions, aggregating more than $29 billion in fund commitments, PEI reported in 2010.
“Sarah brings substantial experience in private equity fundraising and a truly global perspective with extensive relationships in Europe, the US and Latin America,” William Riddle, managing director and head of Lazard’s Private Fund Advisory Group, said in a statement.
“With more than 14 years as a private equity fundraising specialist, she understands the business challenges of our clients and will be a powerful resource for them,” he added.
Lazard's Private Fund Advisory Group raises capital for private equity and real estate firms. The group, which acts as advisor and placement agent, focuses on advice and execution for buyout, mezzanine, venture, distressed/turnaround and hedge funds.
Additionally, it acts as an advisor in the secondary transfer of limited partnership interest and direct investments, as well as on the sale or spin-out of management companies, and fund restructurings across asset classes, strategies, and geographies.
Lazard operates from 40 cities across 26 countries in North America, Europe, Asia, Australia, Central and South America. As well acting as a placement agent, it advises on mergers and acquisitions, strategic matters and restructurings.
Last year, Lazard acted as a placement agent for US-based mid-market firm Kohlberg & Company, which closed its Fund VII on its $1.6 billion hard-cap in April, PEI reported earlier. It also helped Avedon Capital Partners, a Netherlands-based firm, closing its first independent fund, NIBC Growth Capital Fund II on €190 million in August. Equistone Partners Europe Fund IV – the firm’s first independent vehicle since spinning out from Barclays – which closed on its €1.5 billion target in January last year, was also placed by Lazard.