Nelson Peltz's Trian Fund Management has amassed a 5.1% stake in Lazard, calling the shares "significantly undervalued" and throwing support behind a strategic plan outlined earlier this year by Lazard's management.

With the stake, disclosed in a securities filing yesterday, Trian becomes Lazard's biggest outside shareholder, leaping over Ariel Investments and Marathon Asset Management, according to FactSet.

Trian Fund Management takes 5.1% stake in Lazard

Nelson Peltz's fund says it supports the advisory firm's strategic plan and believes its shares are undervalued

Dow Jones Newswires 

Lazard

Evercore Partners

Corporate/Industrial News

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