BDT & MSD Partners

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.

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 International's PEI 300 ranking among the world's largest private equity firms.

BDT & MSD's official strategy emphasizes "long-term" investments, with some notable holdings including:

Majority positions

• Alliance Laundry Systems
• The Boca Raton Resort
• Casa Dragones
• Coalition
• Culligan
• Four Seasons Resort Hualalai
• MJH Life Sciences
• Naples Beach Club
• Ring Container Technologies Inc.
• Universal Engineering Sciences
• Weber Inc.
• West Monroe Partners (50%)
• Whataburger

Minority positions

• Acrisure
• Auberge Resorts
• Badia Spices
• Brunswick Group (11%)
• Charlotte Tilbury Beauty
• Cognita
• East West Manufacturing
• Exyte
• Qualtrics
• Tory Burch LLC
• Under Armour (25%)