{"url":"https://nivawealth.com/firms/msd-partners-161664","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/161664","regulatoryAum":21296429689,"crd":"161664","secFileNumber":"801-74071","legalName":"MSD Partners, L.P.","displayName":"MSD Partners","website":null,"founded":null,"organization":"Delaware limited partnership","fiscalYearEnd":"December","headquarters":{"street":"550 Madison Avenue, 20th Floor","city":"New York","state":"NY","stateName":"New York","country":"United States","postalCode":"10022"},"tradeNames":[],"registration":{"secApproved":"30 March 2012","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":498,"advisory":231,"brokerDealerReps":171,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":17716805551,"discretionaryAccounts":69,"nonDiscretionary":3579624138,"nonDiscretionaryAccounts":8,"wrapProgram":null,"nonUsClientsPct":16,"nonAumClients":0},"clientTypes":[{"label":"Pooled investment vehicles","clients":74,"regulatoryAum":19507308129},{"label":"Insurance companies","clients":2,"regulatoryAum":286659727},{"label":"Other","clients":1,"regulatoryAum":1502461833}],"fees":[],"feeNotes":[],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[],"custodyNote":"MSD Partners has custody of client assets.","otherCustodians":[],"leadership":[{"name":"Gregg Lemkau","title":"Co-Chief Executive Officer","crd":"2529069"},{"name":"Byron Trott","title":"Chairman & Co-Chief Executive Officer","crd":"1082133"},{"name":"Adam Beshara","title":"President","crd":"2988834"},{"name":"Juliet Debaubigny","title":"President","crd":"7139395"},{"name":"Amy Ennesser","title":"President","crd":"4231899"},{"name":"Dan Jester","title":"President","crd":"2088996"},{"name":"Gregory Olafson","title":"President","crd":"4431641"},{"name":"San Orr","title":"President","crd":"2931458"},{"name":"Lawrence Schaltenbrand","title":"Partner & Co-Chief Financial Officer","crd":"5984697"},{"name":"Daniel Stock","title":"Partner & Co-Chief Financial Officer","crd":"6169668"},{"name":"Chad Feingold","title":"Partner and Chief Operating Officer","crd":"4564290"},{"name":"Saritha Reddy","title":"Chief Compliance Officer","crd":"6596454"},{"name":"Cindy Michel","title":"Partner","crd":"4661808"},{"name":"Robert Simonds","title":"Partner & General Counsel","crd":"5918077"},{"name":"David Thomas","title":"Partner & Chief Legal Officer","crd":"4907066"}],"ownership":[{"label":"BDT & MSD Holdings, L.P.","detail":"Limited partner in the 75% or more ownership band and a control person, since January 2023."},{"label":"BDTP GP, LLC","detail":"Indirect owner: general partner of BDT & MSD Holdings, L.P. and a control person, since December 2011. Also a managing member of MSD Partners (GP), LLC in the 75% or more band and a control person, since January 2023.","parent":"BDT & MSD Holdings, L.P."},{"label":"Byron Trott","detail":"Indirect owner: a member of BDTP GP, LLC in the 75% or more band and a control person, since April 2009. Also a limited partner of BDT & MSD Holdings, L.P. in the 25% to 50% band and a control person, since September 2011.","parent":"BDTP GP, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":12,"privateResidences":0},"listedOfficeAddresses":8,"officesByState":[{"state":"California","offices":2,"addresses":[{"street":"100 Wilshire Boulevard","city":"Santa Monica"},{"street":"2882 Sand Hill Road","city":"Menlo Park"}]},{"state":"Colorado","offices":1,"addresses":[{"street":"250 Fillmore ST","city":"Denver"}]},{"state":"Florida","offices":1,"addresses":[{"street":"340 Royal Palm Way","city":"Palm Beach"}]},{"state":"Illinois","offices":1,"addresses":[{"street":"401 North Michigan Avenue","city":"Chicago"}]},{"state":"New York","offices":2,"addresses":[{"street":"550 Madison Avenue, 20th Floor","city":"New York","headquarters":true},{"street":"411 Theodore Fremd Ave","city":"Rye"}]},{"state":"Texas","offices":1,"addresses":[{"street":"4001 Maple Avenue","city":"Dallas"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"212-303-1650","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Portfolio management for pooled investment vehicles (other than investment companies)","Other"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":1},{"label":"Non-exchange-traded equity securities","percent":47},{"label":"U.S. government/agency bonds","percent":3},{"label":"Sovereign bonds","percent":1},{"label":"Non-investment grade corporate bonds","percent":4},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":6},{"label":"Other","percent":39,"detail":"Private Structured Debt and Real Estate"}],"privateFunds":53},"sources":{"adv1FilingDate":"24 August 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/161664/PDF/161664.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does MSD Partners have?","answer":"MSD Partners has 77 clients and manages $21.3 billion for them, as of August 2026. They include 74 pooled investment vehicles, 2 insurance companies and 1 other clients.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 24 August 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does MSD Partners offer?","answer":"MSD Partners provides portfolio management for pooled vehicles and other activities.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does MSD Partners have?","answer":"MSD Partners has 0 investment adviser representatives registered with state securities authorities, out of 498 employees, and 231 perform investment advisory functions. 171 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does MSD Partners invest in?","answer":"At the end of its last fiscal year, MSD Partners’ separately managed accounts held 47% non-exchange-traded equities, 39% private structured debt and real estate, 6% pooled vehicles (private funds and similar), 4% high-yield corporate bonds, 3% U.S. government and agency bonds, 1% exchange-traded equities and 1% sovereign bonds. It advises 53 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns MSD Partners?","answer":"MSD Partners is owned through a chain of holding companies by Byron Trott. Its direct owner is BDT & MSD Holdings, L.P. (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 24 August 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does MSD Partners get paid?","answer":"MSD Partners is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/msd-partners-161664/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1514334/000110465926097240/0001104659-26-097240-index.html","totalValue":76761556,"positionCount":9,"top10Share":1,"top10":[{"issuer":"ODDITY TECH LTD","titleOfClass":"SHS CL A","cusip":"M7518J104","value":26956531,"shares":1781661,"shareType":"SH","priorValue":23838624,"priorShares":1781661},{"issuer":"RENEW ENERGY GLOBAL PLC","titleOfClass":"CL A SHS","cusip":"G7500M104","value":13071750,"shares":2091480,"shareType":"SH","priorValue":9578978,"priorShares":2091480},{"issuer":"XPONENTIAL FITNESS INC","titleOfClass":"COM CL A","cusip":"98422X101","value":11455299,"shares":1655390,"shareType":"SH","priorValue":9965448,"priorShares":1655390},{"issuer":"AZUL S A","titleOfClass":"SPONSORED ADS","cusip":"05501U601","value":10312348,"shares":1147091,"shareType":"SH"},{"issuer":"LINDBLAD EXPEDITIONS HLDGS I","titleOfClass":"COM","cusip":"535219109","value":9805888,"shares":347234,"shareType":"SH","priorValue":28290361,"priorShares":1635281},{"issuer":"SAFEHOLD INC","titleOfClass":"COM","cusip":"78646V107","value":3495511,"shares":222644,"shareType":"SH","priorValue":3012373,"priorShares":222644},{"issuer":"SERVICETITAN INC","titleOfClass":"SHS CL A","cusip":"81764X103","value":1300215,"shares":18388,"shareType":"SH","priorValue":1166902,"priorShares":18388},{"issuer":"OFFICE PPTYS INCOME TR","titleOfClass":"COM OF BENEFICIA","cusip":"67623C307","value":182019,"shares":10707,"shareType":"SH"},{"issuer":"TRISALUS LIFE SCIENCES INC","titleOfClass":"COM","cusip":"89680M101","value":181995,"shares":39999,"shareType":"SH","priorValue":159996,"priorShares":39999}],"positionsListed":9,"positions":[{"issuer":"ODDITY TECH LTD","titleOfClass":"SHS CL A","cusip":"M7518J104","value":26956531,"shares":1781661,"shareType":"SH","priorValue":23838624,"priorShares":1781661},{"issuer":"RENEW ENERGY GLOBAL PLC","titleOfClass":"CL A SHS","cusip":"G7500M104","value":13071750,"shares":2091480,"shareType":"SH","priorValue":9578978,"priorShares":2091480},{"issuer":"XPONENTIAL FITNESS INC","titleOfClass":"COM CL A","cusip":"98422X101","value":11455299,"shares":1655390,"shareType":"SH","priorValue":9965448,"priorShares":1655390},{"issuer":"AZUL S A","titleOfClass":"SPONSORED ADS","cusip":"05501U601","value":10312348,"shares":1147091,"shareType":"SH"},{"issuer":"LINDBLAD EXPEDITIONS HLDGS I","titleOfClass":"COM","cusip":"535219109","value":9805888,"shares":347234,"shareType":"SH","priorValue":28290361,"priorShares":1635281},{"issuer":"SAFEHOLD INC","titleOfClass":"COM","cusip":"78646V107","value":3495511,"shares":222644,"shareType":"SH","priorValue":3012373,"priorShares":222644},{"issuer":"SERVICETITAN INC","titleOfClass":"SHS CL A","cusip":"81764X103","value":1300215,"shares":18388,"shareType":"SH","priorValue":1166902,"priorShares":18388},{"issuer":"OFFICE PPTYS INCOME TR","titleOfClass":"COM OF BENEFICIA","cusip":"67623C307","value":182019,"shares":10707,"shareType":"SH"},{"issuer":"TRISALUS LIFE SCIENCES INC","titleOfClass":"COM","cusip":"89680M101","value":181995,"shares":39999,"shareType":"SH","priorValue":159996,"priorShares":39999}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}