BDT & Company Holdings LLC and MSD Partners LP said they would combine in a merger of two investment firms involving billionaires. The name of the combined firm had not yet been determined. Billionaire Byron Trott of BDT, an investment firm founded by Trott after he became known as the banker for Warren Buffett, will be co-CEO of the combined company, along with Gregg Lemkau, who is CEO of MSD Partners, the investment firm that has emerged from the family office of Dell Technologies Inc. founder and billionaire Michael Dell. Trott will be chairman of the combined firm, and Dell, who does not directly control MSD, will be chairman of the firm’s advisory board. Terms of the deal were not disclosed. The combined firm plans to operate several lines of business including advisory services for families and companies, as well as investments in private capital, credit, real estate and growth equity.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0