Side Letter: Brookfield’s $25bn cut-off; Mubadala’s GP-led; Lazard’s new fundraiser

Brookfield says $25 billion could be the upper limit of its future flagships. Plus: Mubadala's third-party management unit has completed another secondaries deal and Lazard has tapped a Credit Suisse fundraiser in Asia. Here's today's brief, for our valued subscribers only.