Lindsay Goldberg

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Lindsay Goldberg
Private
Industry Private equity
Founded 2001; 16 years ago (2001)
Founder Alan E. Goldberg, Robert D. Lindsay
Headquarters International Building
New York, New York, United States
Products Leveraged buyout, Growth capital
Total assets $10 billion[1]
Number of employees
50+
Website www.lindsaygoldbergllc.com

Lindsay Goldberg is an American private equity firm focused on leveraged buyout and growth capital investments in middle-market companies in such sectors as consumer products, commodity-based manufacturing, energy services, business services, financial services, energy transmission and waste disposal.[2]

The firm, which is based in New York City, was founded in 2001 by Alan Goldberg, who had previously served as chairman and CEO of Morgan Stanley Private Equity (later Metalmark Capital) and Robert Lindsay, who played a central role in the Bessemer Trust private equity business, serving most recently as Managing General Partner since 1991. Goldberg and Lindsay had worked together in the 1980s at Morgan Stanley and were founding members of the private equity business in 1984.

The firm has raised approximately $13 billion since inception, across four funds. The firm raised $2 billion for its first fund in 2002.[3] In 2006, the firm completed fundraising for its second fund with $3.1 billion of investor commitments.[4][5] In 2008, Lindsay Goldberg commenced raising its third fund with a target of $4.0 billion. As of November 2015, $3.4 billion had been raised toward its fourth fund.[6]

Partnerships[edit]

Lindsay Goldberg has developed affiliate partnerships with a number of influential individuals and businesses in order to extend their reach, both geographically and by industries. These partners include:[7]

Investment in Duff Capital Advisors[edit]

In 2009, Lindsay Goldberg received media coverage for controversies related to its investment of $500 million in seed capital in Duff Capital Advisors.[8][9] Launched by former Morgan Stanley CFO Phil Duff, Duff Capital was led by financial services executive Eileen Murray, who served as its Co-Chief Executive Officer and President.[10] Duff Capital Advisors started in March 2008 and shut down in May 2009 prior to moving into the 43,400 square feet of office space, complete with food court, showers, and other amenities, which the company had leased in an office park in Greenwich, Connecticut.[11][12] Subsequent to the closure of Duff Capital Advisors, Phillip Duff formed Massif Partners, another hedge fund; however, Lindsay Goldberg declined to make an investment in this enterprise.[13] Massif Partners went on to encounter similar challenges to Duff Capital.[14]

References[edit]

  1. ^ Capital raised since inception in 2001 across three funds
  2. ^ First American Payment Systems, L.P. Announces Partnership with Lindsay Goldberg & Bessemer. April 16, 2003
  3. ^ Lindsay Goldberg & Bessemer closes buy-out fund at $2bn. AltAssets, February 4, 2003
  4. ^ Lindsay Goldberg & Bessemer closes LGB II on $3.1bn. AltAssets, August 1, 2006
  5. ^ Lindsay Goldberg & Bessemer Agrees to Acquire Majority Position in Miami's Intermex Wire Transfer, LLC. April 3, 2006
  6. ^ "Lindsay Goldberg moves past $3.4bn mark for Fund IV | AltAssets Private Equity News". www.altassets.net. Retrieved 2016-05-20. 
  7. ^ "Linsday Goldberg Partners. Retrieved 13 March 2013
  8. ^ DeCambre, Mark (2009-01-22). "Tough times for Duff lead to 80% job cuts". New York Post. Retrieved 2017-03-25. 
  9. ^ "Duff Capital Advisors shrinks, stays in business". Reuters. 2017-01-23. Retrieved 2017-03-25. 
  10. ^ "Duff, Ex-Morgan Stanley Executive, Opens Asset-Management Firm | Institutional Investor's Alpha". www.institutionalinvestorsalpha.com. Retrieved 2017-03-25. 
  11. ^ "Frozen in Time: The Offices of Duff Capital Advisors - Slideshow - Daily Intel". Daily Intelligencer. Retrieved 2017-03-25. 
  12. ^ "Desks sit in the former offices of Duff Capital Advisors LP". Getty Images. Retrieved 2017-03-25. 
  13. ^ Ahmed, Azam. "A FrontPoint Founder Tries Again With a New Firm". DealBook. Retrieved 2017-03-25. 
  14. ^ "FrontPoint Founder Flounders At New Firm | FINalternatives". www.finalternatives.com. Retrieved 2017-03-25. 

External links[edit]