Michael Dell, one of the world’s richest individuals with a fortune estimated by Forbes at more than $38 billion, has tapped Goldman Sachs for his growing investment business.
Dell, or rather MSD Partners, the investment group he owns, has hired Gregg Lemkau to be its chief executive from early next year. Lemkau was previously the co-head of the investment banking division at Goldman Sachs.
This is a big hire for MSD Partners, set up in 2009 to co-invest with other family/individuals as well as with MSD Capital, the investment office of Michael Dell and his family. The New York City and Sana Monica-based group has grown rapidly as a co-investment group and manages around $15 billion in assets in public and private markets.
Lemkau’s hire will help to fill the void left with the departure of Glenn Fuhrman from the MSD group early this year to set up his own family office, Virtru Investment Partners. Fuhrman co-founded with Dell MSD Capital in 1998 before helping to set up MSD Partners.
Fuhrman’s family office recently invested in New York City art newsletter, Baer Faxt.