BDT and MSD Partners merge to form advisory and investment firm

The transaction is expected to be completed in early 2023.

  • Ardea Partners LP served as financial advisor on the transaction
  • The combined firm’s offerings will include private capital, trusted advice and capital, credit, real estate and growth equity
  • Since 2010, BDT and MSD have collectively deployed more than $50 billion in total capital across their investment strategies

BDT and MSD Partners have agreed to merge to form an advisory and investment firm. No financial terms were disclosed.

BDT is a merchant bank founded in 2009 by Byron Trott. MSD is an investment firm that invests on behalf of like-minded investors, including Dell Technologies Founder Michael Dell and his family.

The combined firm’s offerings will include private capital, trusted advice and capital, credit, real estate and growth equity.

Since 2010, BDT and MSD have collectively deployed more than $50 billion in total capital across their investment strategies.

On the transaction, Gregg Lemkau, CEO of MSD, said in a statement, “MSD and BDT are remarkably complementary firms. We share similar cultures and approaches to investing, and we are both focused on serving strategic investors who seek to consistently compound capital over the long-term. As we were looking to expand MSD’s ability to provide superior solutions to our investment partners, we saw a perfect match in BDT’s capabilities and global investor base. I’ve had the pleasure of knowing Byron for nearly three decades, and I look forward to working alongside him to realize the potential of our combined firm for the benefit of our clients.”

Upon close, Trott and Lemkau will serve as co-CEOs, Trott will also serve as chairman of the combined firm, and Dell will become chairman of the advisory board. Dan Jester and San Orr will serve as presidents. Brendan Rogers will serve as chief operating officer. The combined firm will be co-headquartered in Chicago and New York City, with offices also located in Dallas, Denver, Los Angeles, Palm Beach, San Francisco, London, and Frankfurt.

The transaction is expected to be completed in early 2023. Ardea Partners LP served as the exclusive financial advisor to the transaction.