Goldman Sachs to buy LCN Capital Partners in up to US$410 million deal

Published Aug 18, 01:13 PM UTC

Goldman Sachs has announced its second acquisition in less than 10 days, agreeing to buy LCN Capital Partners in a deal valued at up to US$410 million. The investment bank will pay approximately US$260 million upfront for the private credit firm, with an additional potential payout of up to US$150 million tied to future performance targets and service commitments. This acquisition underscores Goldman Sachs' strategy to expand its private credit capabilities and asset management business. The deal follows a period of consolidation in the financial services industry, particularly in the private lending space. LCN Capital Partners is a specialist in private credit and asset-based lending, and its acquisition will bolster Goldman Sachs' offerings in this growing market segment.