Goldman Sachs buys LCN for up to $410M
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- Goldman Sachs agreed to buy LCN Capital Partners for up to $410 million.
- Goldman will pay $260 million upfront, with up to $150 million tied to future targets.
- The deal adds about $3 billion in commercial real estate assets to Goldman’s investment business.
Goldman Sachs agreed to buy LCN Capital Partners for up to $410 million.
Goldman will pay about $260 million when the deal closes, with another $150 million linked to future targets.
About 80% of the total purchase price will be paid in Goldman Sachs stock, according to the bank.
LCN had about $3 billion in assets under supervision as of June 30, with operations across North America and Europe.
Following the announcement, Goldman Sachs shares were down about 2.1% at $1,029.55 on August 18.
The deal follows Goldman’s planned $2.25 billion acquisition of NEOS Investments, announced six days earlier.