Key Takeaways
- • Gregg Lemkau, co-head of investment banking at Goldman Sachs since 1992, is departing the bank at year-end 2020 to become CEO of MSD Partners effective February 2021.
- • MSD Partners, tied to Michael Dell's family office, manages more than $15 billion in assets across credit, private equity, real estate, and public equities strategies, alongside the separate MSD Capital entity established in 1998.
- • Lemkau's 28-year tenure at Goldman included leadership roles as global co-head of mergers and acquisitions, technology/media/telecom, and healthcare, positioning him to expand MSD Partners' existing business and pursue new investment areas.
- • MSD Partners chief investment officer John Phelan, who co-founded the firm with other Dell family office principals, will work alongside Lemkau to leverage his business-building and talent recruitment expertise for the firm's expansion strategy.
- • Dell has a multi-year relationship with Lemkau and endorsed the hire as aligned with MSD's established 20-year culture and partnership-driven operational model.
Summary
Gregg Lemkau, the prominent Goldman Sachs dealmaker who co-headed the bank's investment banking division, is leaving Goldman at the end of 2020 to assume the chief executive role at MSD Partners, the alternative asset manager affiliated with Michael Dell's family office. Lemkau will formally transition to the New York-based firm in February 2021, where he will partner with chief investment officer John Phelan, a co-founder of MSD Partners.
MSD Partners operates as the institutional investment vehicle for select external investors seeking exposure to strategies developed by Dell's family office infrastructure. The firm, launched in 2009, manages more than $15 billion in assets in conjunction with MSD Capital, the original family office entity established in 1998 exclusively to manage Dell family wealth. The combined platform currently deploys capital across four primary strategy areas: credit, private equity, real estate, and public equities.
Lemkau's recruitment underscores MSD Partners' ambition to accelerate growth beyond its current mandate. His 28-year career at Goldman encompassed multiple senior positions, 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 investment banking practice—roles that established him as one of Wall Street's most influential dealmakers. Phelan characterized Lemkau's business-building capabilities and track record recruiting high-performance professionals as "invaluable" to the firm's expansion objectives.
Michael Dell, founder and CEO of Dell Technologies, indicated a longstanding relationship with Lemkau, stating that "he will be a great fit for the culture that has been built at MSD over two decades." This endorsement reflects Dell's confidence in Lemkau's ability to operate within MSD's partnership-oriented structure while driving the firm's evolution into new investment domains and client acquisition strategies.
MSD Partners operates as the institutional investment vehicle for select external investors seeking exposure to strategies developed by Dell's family office infrastructure. The firm, launched in 2009, manages more than $15 billion in assets in conjunction with MSD Capital, the original family office entity established in 1998 exclusively to manage Dell family wealth. The combined platform currently deploys capital across four primary strategy areas: credit, private equity, real estate, and public equities.
Lemkau's recruitment underscores MSD Partners' ambition to accelerate growth beyond its current mandate. His 28-year career at Goldman encompassed multiple senior positions, 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 investment banking practice—roles that established him as one of Wall Street's most influential dealmakers. Phelan characterized Lemkau's business-building capabilities and track record recruiting high-performance professionals as "invaluable" to the firm's expansion objectives.
Michael Dell, founder and CEO of Dell Technologies, indicated a longstanding relationship with Lemkau, stating that "he will be a great fit for the culture that has been built at MSD over two decades." This endorsement reflects Dell's confidence in Lemkau's ability to operate within MSD's partnership-oriented structure while driving the firm's evolution into new investment domains and client acquisition strategies.
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