Key Takeaways
- • Gregg Lemkau, Goldman Sachs co-head of investment banking for 28 years, is departing the firm at year-end 2020 to become CEO of MSD Partners in February 2021, the alternative asset manager tied to Michael Dell's family office.
- • MSD Partners and its parent entity MSD Capital collectively manage more than $15 billion in assets, with investment strategies spanning credit, private equity, real estate, and public equities across select institutional investors.
- • Lemkau will work alongside Chief Investment Officer John Phelan, who co-founded MSD Partners in 2009 to extend Dell family office investment strategies to external investors, while MSD Capital (established 1998) continues managing the Dell family fortune exclusively.
- • Lemkau's 28-year Goldman tenure included senior roles as global co-head of mergers and acquisitions, technology/media/telecom, and healthcare, positioning him to lead MSD Partners' expansion into new investment areas and talent recruitment initiatives.
- • Michael Dell endorsed the appointment, stating Lemkau will "be a great fit for the culture that has been built at MSD over two decades," citing Dell's multi-year relationship with the executive.
Summary
Gregg Lemkau is transitioning from Goldman Sachs to lead Michael Dell-backed alternative asset manager MSD Partners as chief executive officer, effective February 2021. The announcement came Monday, November 16, 2020, following Lemkau's notification to Goldman that he will retire from the firm at year-end after nearly three decades of service. Lemkau joined Goldman as an analyst in 1992 and rose to co-head of investment banking, one of the bank's most prominent positions.
MSD Partners, founded in 2009, operates as an investment vehicle for "select investors" seeking access to strategies developed by Dell's family office ecosystem. The New York-based firm manages more than $15 billion in combined assets alongside MSD Capital, Dell's original family office established in 1998. Current investment strategies focus on credit, private equity, real estate, and public equities. Lemkau will report to and collaborate with John Phelan, chief investment officer and co-founder of MSD Partners, who helped establish the firm alongside other principals from Dell's family office.
Lemkau's appointment reflects MSD Partners' ambition to expand its institutional investor base and develop new investment capabilities. John Phelan highlighted Lemkau's "powerful set of complementary skills" and partnership-oriented approach as critical assets for scaling the firm. Phelan specifically cited Lemkau's proven track record in building businesses and recruiting high-performance talent as "invaluable" to expansion efforts.
Lemkau's Goldman career encompassed multiple leadership positions across the investment banking division, including global co-head of mergers and acquisitions, global co-head of the technology, media, and telecom group, and global co-head of the healthcare group. Michael Dell stated that he has known Lemkau for "a number of years" and expressed confidence that he will integrate seamlessly into MSD's established culture. The move represents a significant departure of senior dealmaking talent from a major Wall Street institution to the alternative asset management sector.
MSD Partners, founded in 2009, operates as an investment vehicle for "select investors" seeking access to strategies developed by Dell's family office ecosystem. The New York-based firm manages more than $15 billion in combined assets alongside MSD Capital, Dell's original family office established in 1998. Current investment strategies focus on credit, private equity, real estate, and public equities. Lemkau will report to and collaborate with John Phelan, chief investment officer and co-founder of MSD Partners, who helped establish the firm alongside other principals from Dell's family office.
Lemkau's appointment reflects MSD Partners' ambition to expand its institutional investor base and develop new investment capabilities. John Phelan highlighted Lemkau's "powerful set of complementary skills" and partnership-oriented approach as critical assets for scaling the firm. Phelan specifically cited Lemkau's proven track record in building businesses and recruiting high-performance talent as "invaluable" to expansion efforts.
Lemkau's Goldman career encompassed multiple leadership positions across the investment banking division, including global co-head of mergers and acquisitions, global co-head of the technology, media, and telecom group, and global co-head of the healthcare group. Michael Dell stated that he has known Lemkau for "a number of years" and expressed confidence that he will integrate seamlessly into MSD's established culture. The move represents a significant departure of senior dealmaking talent from a major Wall Street institution to the alternative asset management sector.
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