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Lazard, Inc. (NYSE: LAZ) announced today that Pranjal Gambhir joined the firm as Head of Medical Technology, based in New York.
A number of stocks fell in the afternoon session after investors kept pricing in higher borrowing costs from the Federal Reserve’s recent rate hike and the lasting pressure that tighter policy puts on private-market dealmaking and exits. According to Morningstar, elevated policy rates create headwinds for private equity firms by lifting floating-rate interest expense and worsening exit bottlenecks. More expensive leverage can slow deal activity and make portfolio-company sales harder to complete
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