Goldman Sachs has agreed a deal to acquire investment manager LCN Capital Partners (LCN) for an undisclosed price.
LCN originates, negotiates, invests in and manages sale-and-leaseback, build-to-suit and net lease investments across North America and Europe.
The company had approximately $3bn in assets under supervision as of 30 June 30 2026, primarily from institutions, insurers and high-net-worth individuals.
Upon completion of the transaction, LCN co-founders Edward V LaPuma, Bryan York Colwell and the LCN team will join the real estate business within Goldman Sachs Asset Management.
David M. Solomon, chairman and CEO of Goldman Sachs, said: “LCN’s differentiated platform is highly attractive for our asset and wealth management clients who want diversified sources of returns and offers corporate clients innovative capital solutions. Their focus complements our private real estate team’s broad 30-year track record and will expand our ability to serve our insurance, institutional and wealth client segments.”
LaPuma added: “Our team, our strategy and our commitment to our partners, both capital and corporate, remain unchanged – what changes is the scale of our ambition. By combining LCN’s origination network and investment discipline with Goldman Sachs’ unrivaled corporate relationships, global distribution and client experience teams, we can better serve our investing and tenant partners at a scale no independent firm could match – and become an industry leading platform in triple net lease investing.”
Goldman Sachs was advised by Goldman Sachs Global Banking & Markets as financial adviser and Wachtell, Lipton, Rosen & Katz and DLA Piper as legal counsel. LCN was advised by RBC Capital Markets as financial adviser and McDermott Will & Schulte as legal counsel.
