# BDT & MSD BDC Management

BDT & MSD BDC Management is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Assets under management:** Undisclosed
- **Website:** bdtmsd.com

## Regulatory record

- **CRD number:** 330624
- **SEC file number:** 801-130297
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/330624

## About

BDT & MSD BDC MANAGEMENT, LLC is an SEC-registered investment adviser in New York, NY, registered since 2024. The firm manages approximately $7.2 billion in regulatory assets. It has 498 employees and 231 investment advisers.

## Sectors

- Private Credit

## People

- Byron D. Trott — Chairman and Co-CEO
- Gregg Lemkau — Co-CEO

## Questions

### Who runs investment decisions at BDT & MSD BDC Management?

The firm is led by Byron Trott as Chairman and Co-CEO alongside Gregg Lemkau as Co-CEO. While specific BDC-level investment committee members are not publicly listed, credit investment decisions draw on the broader BDT & MSD platform's senior partners, who collectively manage the combined firm's capital across private equity and credit strategies.

### How does BDT & MSD BDC Management source deal flow?

Deal flow derives overwhelmingly from the network of family offices, founders, and operating executives within the BDT & MSD ecosystem. The firm's merchant-banking model — built on decades of advisory and minority equity relationships with family-owned and closely held businesses — gives it visibility into private credit opportunities before a competitive auction begins.

### How is BDT & MSD BDC Management related to Michael Dell's MSD Partners?

MSD Partners merged with BDT Capital Partners in 2023, forming BDT & MSD Partners. The combined platform includes Michael Dell's family investment entity, Byron Trott's merchant bank, and their respective credit arms. The BDC benefits from the integrated platform's permanent-capital base and sourcing network.

### Does BDT & MSD BDC Management participate in syndicated loans or only directly originated deals?

The firm's public filings indicate a preference for directly originated and relationship-sourced private credit transactions rather than broadly syndicated loans. The emphasis on proprietary origination aligns with the parent platform's model of bespoke, relationship-driven capital deployment.

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Last updated: 2026-06-03T20:00:00.000Z

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