The investment bank Goldman Sachs Group Inc announced on Tuesday that it has reached an agreement to acquire LCN Capital Partners, an investment manager specializing in sale‑and‑leaseback transactions, build‑to‑order construction, and triple‑net leases in the real estate sector. As of June 30, 2026, the company manages assets worth approximately $3 billion. The initial transaction amount is approximately $260 million, with up to $150 million in deferred and contingent payments tied to long‑term performance metrics and service delivery obligations. Approximately 80 percent of the total transaction amount will be paid in Goldman Sachs shares.

Goldman Sachs Chairman and CEO David Solomon stated that the unique LCN platform is extremely attractive to clients of the wealth management division seeking diversified sources of income, and it offers innovative solutions in the field of capital raising to corporate clients. LCN operates in North America and Europe, organizing and managing investments in sale-and-leaseback transactions, turnkey construction, and net‑rate leasing. The organization serves institutional investors, insurers, and high‑net‑worth individuals, employing a strategy that combines corporate credit and real estate.

Founded in 2011, LCN has raised funds through ten investment funds. The company’s average annual net return since its founding is ten point eight percent, and all funds are in the first or second quartile among private real estate funds in terms of the net multiplier on invested capital and distributions relative to paid‑in capital. LCN co‑founders Edward LaPuma and Brian York Colwell, together with their team, will join the real estate division of Goldman Sachs Asset Management after the deal is completed. LaPuma noted that combining LCN’s deal‑search network and investment discipline with Goldman Sachs’ corporate connections, global distribution, and client‑service teams will enable better service to investment partners and tenants on a scale unattainable by an independent company.. It is expected that the deal will be closed by the end of 2026, provided that regulatory approval is obtained and other closing conditions are met. RBC Capital Markets acted as LCN’s financial advisor, and McDermott Will & Schulte provided legal support. Goldman Sachs Global Banking & Markets acted as the financial advisor to Goldman Sachs, while Wachtell, Lipton, Rosen & Katz and DLA Piper served as legal advisors.

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The material has been prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.