DFO Management

From Wikipedia, the free encyclopedia

Template:Short description Template:DMCA Template:DMCA

Page Module:Infobox/styles.css has no content.Page Template:Infobox company/styles.css has no content.

DFO Management, LLC
FormerlyMSD Capital (1998–2022)
Company type
Private
ISINScript error: No such module "WikidataIB".
IndustryScript error: No such module "WikidataIB".
PredecessorScript error: No such module "WikidataIB".
IncorporatedScript error: No such module "WikidataIB".
FoundedScript error: No such module "WikidataIB".
FounderScript error: No such module "WikidataIB".
DefunctScript error: No such module "WikidataIB".
SuccessorScript error: No such module "WikidataIB".
HeadquartersOne Vanderbilt, New York City
RevenueScript error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Total assetsScript error: No such module "WikidataIB".
Number of employees
Script error: No such module "WikidataIB".
ParentScript error: No such module "WikidataIB".
Websitewww.dellfamilyoffice.com

Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for deprecated parameters".

DFO Management, LLC (formerly MSD Capital) is an American family office that manages the capital of Michael Dell and his family. The firm, which is based in New York City and has offices in Santa Monica and West Palm Beach, was formed in 1998.[1]

Founding and management

In 1998, Michael Dell recruited John C. Phelan and Glenn R. Fuhrman to form MSD Capital to manage his family's wealth. For over 20 years, Phelan and Fuhrman had been co-managing partners of MSD Capital,[2] until the end of 2019 when Fuhrman retired.[3] In 2021, Gregg Lemkau joined as CEO and has run the firm since.[4] Phelan continued as chief investment officer until his retirement in June 2022.[5]

In December 2022, MSD Capital was restructured to form DFO Management.[6]

Activities

According to information on MSD Capital's website, the firm has a broad investment mandate and has the flexibility to invest in a wide variety of asset classes. Since its founding in 1998 through 2019, MSD Capital has generated more than $17 billion in profits.[3]

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.[7]

Among MSD Capital's real estate holdings are the luxury resorts Four Seasons Resort Maui[7] and Four Seasons Resort Hualalai,[8] both located in Hawaii.

In 2008, MSD Capital joined a consortium to acquire the assets of IndyMac Bank for around $13.9 billion, renaming it OneWest Bank.[7]

In 2013, MSD Capital participated in the $24 billion acquisition of Dell Inc. by Michael Dell and Silver Lake,[9] as well as Dell's $60 billion merger with EMC in 2016 and the company's 2018 IPO.[3]

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]

Also in 2016, MSD Capital bought an interest in Grand Central Terminal's air rights for $126 million. Two years later they sold some of the air rights to JPMorgan for $238 million.[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]

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.[13] Since then, MSD Partners has operated as a separate entity from MSD Capital. The firm operates from New York, Santa Monica and West Palm Beach.[14] It focuses on four areas of investing: credit, private equity, real estate and growth equity.[4]

MSD Credit invests in liquid corporate credit, including leveraged loans, private credit and real estate credit with an emphasis on long-term partnerships.[15]

MSD Private Capital invests in control buyouts, significant minority and structured equity, with the flexibility for long-term investment.[16] The Private Capital Group is primarily focused on control private equity investments.[13] MSD's private equity team has invested in East West Manufacturing,[17] West Monroe Partners,[18] Owl Rock Capital Corp, Ultimate Fighting Championship, and WIRB-Copernicus Group.[4] In 2017, MSD invested a combined $650 million in the acquisitions of Hayward Industries Inc.[19] and Ring Container Technologies Inc.[13]

MSD Real Estate seeks assets with significant barriers to entry and strong long-term growth characteristics. Since its founding in 2004, the MSD Real Estate team has committed approximately $2.5 billion of equity into more than 35 real estate and real estate-related transactions.[20] The firm's real estate deals include Four Seasons Maui, Fairmont Miramar, and The Boca Raton.[4][21]

MSD Growth is focused on high growth, founder-led, private technology companies with a preference for enterprise, consumer, fintech and healthcare industries. Investments range from $10 million to $100+ million in a single company.[22]

In October 2022, MSD Partners merged with BDT & Co to form BDT & MSD Partners.[23]

References

Page Template:Reflist/styles.css has no content.

  1. ^ Page Module:Citation/CS1/styles.css has no content."MSD Capital, L.P.: Private Company Information – Bloomberg". bloomberg.com. Retrieved December 31, 2017.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Dell Keeps LBO Financing in the Family With MSD Capital". Bloomberg.com. January 31, 2013. Retrieved December 31, 2017.
  3. ^ a b c Page Module:Citation/CS1/styles.css has no content.Chung, Juliet (December 6, 2019). "Michael Dell's Money Managers Change How His Wealth Is Invested". The Wall Street Journal. Retrieved September 30, 2022.
  4. ^ a b c d Page Module:Citation/CS1/styles.css has no content.Idzelis, Christine (November 16, 2020), Goldman's Gregg Lemkau Is Leaving for Alternative Manager MSD Partners, Institutional Investor, retrieved October 4, 2022
  5. ^ Page Module:Citation/CS1/styles.css has no content."Phelan Steps Down as CIO of Michael Dell's Family Office (1)". Bloomberg Law. Retrieved April 17, 2024.
  6. ^ Page Module:Citation/CS1/styles.css has no content."Dell Family Office to Diversify Portfolio as Big Payday Looms". Bloomberg.com. June 7, 2023. Retrieved July 17, 2023.
  7. ^ a b c Page Module:Citation/CS1/styles.css has no content.Lattman, Peter (January 18, 2013). "Michael Dell's Empire in a Buyout Spotlight". DealBook. Retrieved December 31, 2017.
  8. ^ Page Module:Citation/CS1/styles.css has no content."Tech magnates turning attention toward ultraluxury hotels: Travel Weekly". www.travelweekly.com. Retrieved December 31, 2017.
  9. ^ Page Module:Citation/CS1/styles.css has no content.us, Dell. "Financial News". Dell. Archived from the original on December 26, 2017. Retrieved December 25, 2017.
  10. ^ Page Module:Citation/CS1/styles.css has no content.de la Merced, Michael J. (July 11, 2016). "U.F.C. Sells Itself for $4 Billion". The New York Times. ISSN 0362-4331. Retrieved December 31, 2017.
  11. ^ Page Module:Citation/CS1/styles.css has no content."Here's how much money Michael Dell stands to make from JPMorgan air rights deal". The Deal. March 14, 2018. Retrieved September 30, 2022.
  12. ^ Page Module:Citation/CS1/styles.css has no content."TruAmerica, MSD Capital Acquire Multifamily Property in Fort Myers for $66M | REBusinessOnline". rebusinessonline.com. August 10, 2017. Retrieved December 31, 2017.
  13. ^ a b c Page Module:Citation/CS1/styles.css has no content."Michael Dell's MSD Partners to Buy Ring Container Technologies". Bloomberg.com. September 14, 2017. Retrieved December 25, 2017.
  14. ^ Page Module:Citation/CS1/styles.css has no content."MSD Partners, L.P.: Private Company Information - Bloomberg". Bloomberg. Retrieved December 25, 2017.
  15. ^ "Credit," MSDCapital Website, retrieved October 10, 2022.
  16. ^ "Private Capital," MSDCapital Website, retrieved October 10, 2022.
  17. ^ Page Module:Citation/CS1/styles.css has no content.Velentzas, Lauren (February 1, 2022), MSD Partners Invests in East West Manufacturing, Mergers & Acquisitions, retrieved October 13, 2022
  18. ^ Page Module:Citation/CS1/styles.css has no content.Porter, Kiel (October 14, 2021), MSD Partners Buys 50% Of Consultancy West Monroe, Bloomberg, retrieved October 13, 2022
  19. ^ Page Module:Citation/CS1/styles.css has no content."CCMP Capital, MSD Partners to Acquire Hayward Industries". The Wall Street Journal. June 19, 2017. ISSN 0099-9660. Retrieved December 25, 2017.
  20. ^ "Real Estate," MSDCapital Website, retrieved October 10, 2022.
  21. ^ Page Module:Citation/CS1/styles.css has no content.Alvarado, Francisco (June 13, 2019). "Michael Dell Paid $875 Million For The Underperforming Boca Raton Resort And Club". Forbes. Retrieved January 28, 2020.
  22. ^ "Growth," MSDCapital Website, retrieved October 10, 2022.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Gottfried, Miriam (October 20, 2022). "WSJ News Exclusive | BDT to Merge With MSD Partners, Form New Investment and Advisory Firm". Wall Street Journal. ISSN 0099-9660. Retrieved July 17, 2023.

Lua error in mw.title.lua at line 404: bad argument #2 to 'title.new' (unrecognized namespace name 'Portal').

Retrieved from "https://cosmopedia.co/index.php?title=DFO_Management&oldid=11945993"