Goldman Sachs to Acquire LCN Capital Partners for $410 Million

The transaction includes an upfront payment of $260 million, with an additional $150 million in deferred compensation contingent upon LCN meeting specific performance and service benchmarks. Approximately 80% of the total acquisition cost will be paid in Goldman Sachs stock. The deal, which remains subject to regulatory approval, is expected to close by the end of 2026.

LCN was founded in 2011 by Edward V. LaPuma and Bryan York Colwell, who will join the Goldman Sachs Asset Management real estate team alongside their staff. The firm’s portfolio covers industrial, retail, and office spaces across North America and Europe, utilizing strategies such as triple-net leases and build-to-suit agreements. Goldman CEO David Solomon noted that the acquisition enhances the firm's ability to offer diversified returns to institutional and wealth management clients while providing corporate partners with expanded financing options. This purchase follows closely on the heels of Goldman’s recent move to acquire NEOS Investments for up to $2.25 billion, signaling an aggressive push to scale the bank's specialized investment platforms.