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Lazard Ltd (Lazard) is an international financial advisory and asset management firm. The Company serves a diverse set of clients around the world, including corporations, partnerships, institutions, governments and high-net worth individuals. Lazard operates from 39 cities in business and financial centers across 21 countries throughout Europe, North America, Asia, Australia and South America. The Company focuses primarily on two business segments: Financial Advisory and Asset Management. On October 2, 2007, Lazard Funding Limited LLC (Lazard Funding), a wholly owned subsidiary of Lazard Group, established a special purpose acquisition company, Sapphire Industrials Corp. (Sapphire), for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses.(Source: 10-K)