MSD Capital

MSD Capital is an American private investment firm that manages the capital of Michael Saul Dell and his family. The firm, which is based in New York and has offices in Santa Monica and West Palm Beach, was formed in 1998.[3]

MSD Capital LP
TypePrivate, Limited liability company
IndustryPrivate equity
Founded1998
FounderMichael Dell[1]
Headquarters645 Fifth Avenue, 21st Floor, New York City and
100 Wilshire Boulevard, Suite 1700, Santa Monica, California, United States[2]
ProductsLeveraged buyout, Growth capital, investments, real-estate[1]
Total assetsnot public, in excess of $12 billion[1]
Number of employees
+/-120[1]
Websitemsdcapital.com

In 2009, the principals of MSD Capital formed MSD Partners, an investment adviser registered with the U.S. Securities and Exchange Commission, to enable outside investors to invest in strategies that were developed by MSD Capital. Among other things, MSD Partners makes control equity and structured preferred investments through its MSD Private Capital Group.[4]

Founding

In 1998, Michael Dell recruited John C. Phelan and Glenn R. Fuhrman to form MSD Capital to manage his family's wealth. For nearly 20 years, Mr. Phelan and Mr. Fuhrman, the firm's co-founders, have served as co-managing partners of MSD Capital.[5]

Management

MSD Capital has a dedicated investment team. According to the firm's statement on its website, Mr. Dell is not involved in its day-to-day operations.

Activities

According to information on MSD Capital's website, the firm has a broad investment mandate, focused principally on making investments across the globe in the debt and equity of public and private companies, real estate and other asset classes.

Based on the most recent Form 13F filings by MSD Capital, its holding of the equity of public companies include PVH Corp., the apparel company that owns brands including Calvin Klein and Tommy Hilfiger, and Dine Brands Global, known for its IHOP and Applebee's restaurants.[6][7]

Among MSD Capital's real estate holdings are the luxury resorts Four Seasons Resort Maui[8] and Four Seasons Resort Hualalai,[9] both located in Hawaii.

In July 2016, it was announced that MSD Capital and MSD Partners would provide preferred equity financing to support WME | IMG in its acquisition of UFC, the professional mixed martial arts (MMA) organization, alongside strategic investors KKR and Silver Lake Partners.[10]

In 2008, MSD Capital joined a consortium to acquire the assets of IndyMac Bank for around $13.9 billion, renaming it OneWest Bank.[11]

In August 2017, MSD Capital partnered with TruAmerica Multifamily to acquire the Florida-based multifamily community Sienna at Lake Vista for $66 million.[12]

In June 2019, MSD Partners purchased Boca Raton Resort & Club including 356 waterfront acres in Boca Raton, Florida.[13]

MSD Partners

In 2009, the principals of MSD Capital formed MSD Partners, an investment adviser registered with the U.S. Securities and Exchange Commission, to enable outside investors to invest in strategies that were developed by MSD Capital.[14] These strategies include the equities of public and private companies, credit, real estate and other asset classes and securities.

MSD Partners operates from New York and Santa Monica.[15] MSD Partners' Private Capital Group is led by Douglas Londal, who joined in 2015 from New Mountain Capital, where he was President.[16]

The Private Capital Group is primarily focused on control private equity investments.[14] In 2017, it invested a combined $650 million in the acquisitions of Hayward Industries Inc.[17] and Ring Container Technologies Inc.[14] MSD Partners committed $1.4 billion to seven investments between January 2016 and October 2017.[14]

In 2013, MSD Partners participated with Michael Dell and Silver Lake Partners in the acquisition of Dell Inc., worth approximately $24 billion.[18]

Current holdings

Based on the most recent Form 13F filings by MSD Partners, its holdings of the equity of public companies[19] include the following:

References
  1. MSDCapital Website FAQs Archived 2013-06-02 at the Wayback Machine
  2. MSDCapital Website Contact Us
  3. "MSD Capital, L.P.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-12-31.
  4. "Michael Dell's MSD Partners to Buy Ring Container Technologies". Bloomberg.com. 2017-09-14. Retrieved 2017-12-31.
  5. "Dell Keeps LBO Financing in the Family With MSD Capital". Bloomberg.com. 2013-01-31. Retrieved 2017-12-31.
  6. Lattman, Peter. "Michael Dell's Empire in a Buyout Spotlight". DealBook. Retrieved 2017-12-31.
  7. "MSD CAPITAL L P Top Holdings". whalewisdom.com. Retrieved 2017-12-31.
  8. Lattman, Peter. "Michael Dell's Empire in a Buyout Spotlight". DealBook. Retrieved 2017-12-31.
  9. "Tech magnates turning attention toward ultraluxury hotels: Travel Weekly". www.travelweekly.com. Retrieved 2017-12-31.
  10. Merced, Michael J. de la (2016-07-11). "U.F.C. Sells Itself for $4 Billion". The New York Times. ISSN 0362-4331. Retrieved 2017-12-31.
  11. Lattman, Peter. "Michael Dell's Empire in a Buyout Spotlight". DealBook. Retrieved 2017-12-31.
  12. "TruAmerica, MSD Capital Acquire Multifamily Property in Fort Myers for $66M | REBusinessOnline". rebusinessonline.com. Retrieved 2017-12-31.
  13. Alvarado, Francisco (June 13, 2019). "Michael Dell Paid $875 Million For The Underperforming Boca Raton Resort And Club". Forbes. Forbes. Retrieved January 28, 2020.
  14. "Michael Dell's MSD Partners to Buy Ring Container Technologies". Bloomberg.com. 2017-09-14. Retrieved 2017-12-25.
  15. "MSD Partners, L.P.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-12-25.
  16. "Private Equity's Biggest Backers Are Tired of the Fees". Bloomberg.com. 2017-10-26. Retrieved 2017-12-25.
  17. "CCMP Capital, MSD Partners to Acquire Hayward Industries". Wall Street Journal. 2017-06-19. ISSN 0099-9660. Retrieved 2017-12-25.
  18. us, Dell. "Financial News". Dell. Retrieved 2017-12-25.
  19. "MSD PARTNERS, L.P. Top Holdings". whalewisdom.com. Retrieved 2017-12-25.

MSD Partners

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