Goldman Sachs Star Lemkau To Be CEO Of Michael Dell’s Firm
‘I’ve known Gregg for a number of years and think that he will be a great fit for the culture that has been built at MSD over two decades,’ says Dell Technologies chairman and CEO Michael Dell.
Goldman Sachs top dealmaker and co-head of its powerful investment banking division, Gregg Lemkau, is leaving after nearly three decades to become CEO of Michael Dell’s investment firm MSD Partners.
Lemkau has advised Dell on many deals over the decades including the largest technology merger in history with Dell’s $67 billion acquisition of EMC in 2016, according to the Wall Street Journal, which first reported the news.
“I’ve known Gregg for a number of years and think that he will be a great fit for the culture that has been built at MSD over two decades,” said Dell Technologies Chairman, CEO and founder Michael Dell in the release. “The MSD team has built an extraordinary investment platform over the past 22 years, and I could not be prouder of what has been achieved. As there are opportunities for substantial continued growth, this is an optimal time for a leader like Gregg Lemkau to join MSD Partners to help direct its strategy and execution.”
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Lemkau is known as one of the top M&A bankers on Wall Street, having led hundreds of deals since 1992 when he first joined Goldman Sachs. As CEO and a partner of the firm, Lemkau will be responsible for leading MSD Partners’ strategy to grow its existing businesses and strategically expand into new investment areas.
Lemkau said in a statement he plans to grow Dell’s investment firm. “The MSD team has a great opportunity to expand its existing strategies where the Firm already has been successful, as well as consider new areas of opportunity,” Lemkau said. “While I am leaving an incredible position at Goldman Sachs, I could not be more excited about the path forward as I join MSD.”
New York-based MSD Partners manage a whopping $15 billion in assets, according to the company. The firm was formed in 2009 by the principals of MSD Capital – created in 1998 to exclusively mange the capital of Michael Dell and his family -- to enable a select group of investors to invest in strategies that were developed by MSD Capital.
Over the past 18 months, MSD Partners has closed on more than $2 billion in commitments across multiple credit strategies. In terms of private equity, MSD has deployed over $1.6 billion in capital since 2016, investing on everything from Transaction Network Services and Ring Container Technologies to the Ultimate Fighting Championship (UFC).
Lemkau joined Goldman Sachs as an analyst in mergers and acquisitions in 1992 and was named managing director in 2001 and Partner in 2002. He served as Chairman of Goldman Sachs’ Firmwide Commitments Committee from 2011 to 2015.
“Gregg has helped lead our efforts to continue to solidify and grow our pre-eminent investment banking franchise around the world,” said Goldman Sachs Chairman and CEO David Solomon, in an internal memo. “During his more than 28-year tenure at the firm, he has advised on hundreds of transactions, and has spent significant time advising our clients across all sectors globally while working in our offices in the US and in Europe.”
Michael Dell is expecting Lemkau to join MSD Partners sometime early next year.
I am thrilled to welcome @grlemkau as the CEO of @MSD_Partners in early 2021! https://t.co/SM7Kt0yWo9
— Michael Dell (@MichaelDell) November 16, 2020