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BDT & MSD Partners

Medium
Chicago and New York City, U.S. · Founded 2023 · AUM $50 billion · Website
Private EquityCreditGrowth CapitalLong-term InvestmentAdvisoryConsumer GoodsHospitalityFinancial ServicesIndustrial ServicesFood & BeverageHealthcare & Life SciencesTechnologyReal EstateNorth AmericaEurope
Last verified
8/19/2026

Firm Overview

0
Portfolio tracked
8
Sectors
2
Regions
8/19/2026
Last verified

BDT & MSD Partners is an American merchant bank co-headquartered in Chicago and New York City that provides advisory and investment services to family and founder-led companies.

BDT & MSD Partners was formed in January 2023 through the merger of BDT & Company, a merchant bank founded by Byron Trott, and MSD Partners, an investment firm managing the wealth of Michael Dell and his family. The firm operates as a merchant bank, combining a financial advisory platform with a multi-strategy investment platform to serve the needs of family- and founder-led businesses.

The firm is co-headquartered in Chicago and New York City and maintains a significant global presence, ranking 36th in Private Equity International's PEI 300 ranking of the world's largest private equity firms as of 2024. Its leadership includes high-profile executives from Goldman Sachs, including Co-CEO Gregg Lemkau and President Greg Olafson.

BDT & MSD's investment strategy emphasizes long-term capital appreciation through both majority and minority stakes in market-leading companies. The firm is active in sectors ranging from consumer goods and hospitality to industrial services and financial technology, often providing capital to facilitate growth or transitions in ownership for closely held enterprises.

Founded2023
HeadquartersChicago and New York City, U.S.
AUM$50 billion
Target investment$1.5 billion (advisory example), $273 million (real estate investment)
StrategiesPrivate Equity, Credit, Growth Capital, Long-term Investment, Advisory
Sector focusConsumer Goods, Hospitality, Financial Services, Industrial Services, Food & Beverage, Healthcare & Life Sciences, Technology, Real Estate
Geographic focusNorth America, Europe

Leadership

Byron Trott
Chairman and Co-CEO
Chairman and co-CEO of BDT & MSD Partners and founder of BDT & Company.
Gregg Lemkau
Co-CEO
Co-CEO of the firm and former CEO of MSD Partners and Goldman Sachs executive.
Greg Olafson
President, Co-Head of Global Credit and Co-Chief Investment Officer
Veteran Goldman Sachs executive who joined the firm in 2025.
Dina Powell McCormick
Advisory Board Member (Former President)
Former Goldman Sachs executive and U.S. government official who serves on the firm's advisory board.

Notable Investments

WhataburgerWeber Inc.CulliganUnder ArmourTory Burch LLCAlliance Laundry SystemsFour Seasons Resort HualalaiCharlotte Tilbury BeautyAcrisureAuberge ResortsBadia SpicesCasa DragonesQualtricsWest Monroe Partners

Historical and current deals referenced in public sources.

Portfolio Companies

Portfolio not yet mapped for BDT & MSD Partners.

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Sources

This profile is based on publicly available information and may be incomplete or outdated. PE Firm Index is not affiliated with BDT & MSD Partners and does not provide investment advice.

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