L&S Private Wealth

Investment decisions are driven by partners David Lansburgh and Eric Schwartzman. The firm operates with a lean partnership structure typical of multi-family offices that centralize manager selection and co-investment diligence in a small group of investment principals. Their tenure running the firm together suggests a consensus-driven investment committee model rather than a single CIO mandate.

L&S Private Wealth is structured as a multi-family office serving a small constellation of wealthy families from its New York base. It functions more as a discretionary investment office than a commercial wealth manager. The firm sources deals for principal capital and does not broadly market funds to outside LPs.

The firm operates a hybrid approach. It allocates to external hedge fund managers and participates in private credit vehicles, while also pursuing direct real estate positions and private equity co-investments. Public records indicate involvement with credit vehicles tied to Blackstone and Apollo, alongside direct real estate partnership interests, signaling comfort with both fund-level commitments and deal-by-deal co-investment structures.

The firm actively pursues co-investments as a core part of its strategy, particularly in private equity and secondaries. Participating in co-investments allows the firm to negotiate lower fees, gain exposure to specific assets, and build deeper relationships with sponsor GPs. Deal flow is reported to come through a network of boutique investment banks and direct GP relationships.

The firm allocates across private credit, direct real estate, hedge funds, private equity co-investments, and special-situation secondaries. This broad mandate gives it flexibility to pivot toward distressed credit, value-add real estate, or growth-stage co-investment depending on the cycle, rather than being anchored to a single sector thesis or vintage-year schedule.