Unlike hedge funds, major investment banks don't have multi-year non-compete agreements. Therefore, even though Gregg Lemkau only left his job as co-head of global investing at Goldman Sachs in November, he's already arrived at his new gig as chief executive officer of MSD Partners LLP, the $15 billion investment firm that started life as Michael Dell's family office.
In his new role, Lemkau will almost certainly be hiring.
In the past year, MSD Partners has increased headcount by 22 people according to LinkedIn, and it appears to be recruiting still. - Alongside Lemkau, new joiners this month include Gennifer Tsoi, who joins the private capital group as a vice president. Last month, MSD hired Ben Davidson for its real estate group.
MSD Partners invests across credit, private equity, real estate and public equities, and hires accordingly. In April last year, it recruited Michael Goldstein, Goldman's former co-head of global high yield and bank loans to co-head its Alpine Credit Opportunity Fund. In November, it hired Anthony Vitiello, a trader with both hedge fund and bank experience to lead its credit trading team. Further growth in the private investing team seems highly probable following last August's appointments of new heads of the private capital group. - At the time, the firm said it had already deployed $1.6bn and that there was a " greater opportunity to grow" the business in future.
Goldman analysts who want to move to the buy-side may therefore want to hit Lemkau up. MSD isn't averse to hiring juniors directly from banks: in November it recruited Salam Omar, a Morgan Stanley associate for its private capital group; in August the same team hired Ross Milani, a financial sponsors group analyst from Deutsche Bank.
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