BDT & MSD Partners is an American merchant bank co-headquartered in Chicago and New York City. The firm has both an advisory platform and an investment platform.
History In January 2023, BDT & MSD was formed from the merger of BDT & Company, a merchant bank founded by Byron Trott that provides advice and capital to family and founder-led companies, and MSD Partners, an investment firm that manages the wealth of Michael Dell and his family.
Trott is currently the Chairman and co-CEO of the firm while Gregg Lemkau who was previously CEO of MSD Partners is the other co-CEO.
Dina Powell left Goldman Sachs to join the firm in May 2023. She departed the firm in January 2026 to become president and vice chair of Meta, while remaining a member of the BDT & MSD advisory board.
BDT & MSD is co-headquartered in Chicago and New York City.
In January 2025, it was announced that Goldman Sachs Group veteran Greg Olafson would join BDT & MSD as president, co-head of global credit and co-chief investment officer. Olafson joined Goldman in 2001 as an employee of its investment banking division and saw several achievements, including being selected as a partner in 2012.
Investments and transactions The bank was a financial advisor for Metropolis Technologies' $1.5 billion acquisition of SP Plus Corporation in 2023. It has acquired a minority stake in Auberge Hotels. In October 2024, the bank was part of a group of investors that acquired a majority stake in food manufacturer Badia Spices. In December 2024, the bank participated in a $273 million investment in Shell Bay, a luxury condominium development near Miami.
In June 2024, BDT & MSD Partners ranked 36th in Private Equity Internationals PEI 300 ranking among the world's largest private equity firms.
Notable holdings BDT & MSD's official strategy emphasizes "long-term" investments, with some notable holdings including: Majority positions Alliance Laundry SystemsBDT Capital Partners, LLC Agrees to Acquire a Majority Stake in Alliance Laundry Systems from Ontario Teachers (Alliance Laundry Systems, August 6, 2015) The Boca Raton Resort"Boca Resort sale announced today", Boca Voice, 2019-04-22. Retrieved on 2019-07-09. Casa Dragones Coalition Culligan Four Seasons Resort Hualalai MJH Life SciencesBDT Capital Partners acquires a majority interest in MJH Life Sciences (Davis Polk, November 16, 2021) Naples Beach Club Ring Container Technologies Inc. Universal Engineering Sciences Weber Inc. West Monroe Partners (50%)West Monroe completes investment from MSD Partners, begins Employee Ownership 3.0 (West Monroe Partners, November 10, 2021) WhataburgerWhataburger Sells Majority Interest to BDT Capital Partners (QSR Magazine, June 14, 2019)
Minority positions Acrisure Auberge Resorts Badia Spices Brunswick Group (11%) Charlotte Tilbury Beauty Cognita East West ManufacturingEast West Is Acquired by MSD (RW Baird, February 2022) ExyteBDT Capital Partners takes minority stake in German chip plant builder Exyte (Reuters, November 16, 2022) Qualtrics Tory Burch LLCWhat would an IPO mean for Tory Burch? (Vogue, October 31, 2023) Under Armour (25%)BDT & MSD Partners Invest in Under Armour (BDT & MSD, May 31, 2023)Under Armour Top Institutional Holders (Yahoo Finance, March 24, 2025)
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