Lazard’s relationship with the Brazilian backers of 3G Capital, which this week carried out the high profile $4bn acquisition of Burger King, stretches back to 2004 when it advised on the formation of a brewing giant.

The independent investment bank is one of the three advisers to 3G Capital, the New York-based investment firm that is buying the fast food chain from private equity backers Bain Capital, Goldman Sachs' buyout arm and TPG.