Lazard bids to replace centerview as Venezuela’s financial adviser

Sunday 14 June 2026 - 15:58

Global investment bank Lazard is seeking to replace Centerview Partners as financial adviser to Venezuela, according to a Bloomberg News report, intensifying competition over one of the largest sovereign debt restructuring processes in recent years.

The move comes as Venezuela continues preparations to reorganize an estimated $150 billion to $170 billion in outstanding debt, a process that could reshape the country’s financial future and its relations with international creditors.

Lazard has reportedly offered a significantly lower advisory fee than its rival, proposing around $25 million for the mandate. This contrasts sharply with Centerview’s negotiations, which were previously linked to a potential fee structure of at least $150 million, depending on the outcome and total debt involved.

The restructuring role is considered highly strategic, as the selected adviser will help design Venezuela’s debt negotiation framework and coordinate discussions with international bondholders. Such positions are typically awarded to major Wall Street advisory firms due to the complexity and scale of sovereign debt cases.

Venezuela’s debt restructuring efforts have attracted strong attention from global financial institutions, especially as the country seeks to regain access to international markets after years of economic instability and sanctions.

The competition between Lazard and Centerview highlights broader rivalry in the elite advisory sector, where firms compete not only on fees but also on prestige and influence in major sovereign financial recoveries.

The final decision on the advisory mandate has not yet been officially confirmed by the Venezuelan government.