The private equity firm backed by Lazard chief executive Bruce Wasserstein has appointed Credit Suisse to explore options for one of its media companies as buyout money is expected to drive mergers and acquisitions in the sector to a record this year.

Wasserstein & Co said it is exploring various strategic alternatives for its investment in ALM, including the possible sale of the company whose publications include The American Lawyer, Corporate Counsel, and The National Law Journal. ALM was formed in 1997 by US Equity Partners, a private equity fund sponsored by Wasserstein & Co.