Lindsay Goldberg

Lindsay Goldberg

Lindsay Goldberg was founded in 2001 by Robert Lindsay and Alan Goldberg after careers at Bessemer Holdings, where they refined an investment model centered on partnership with closely held businesses. The firm opened its doors at a moment when megafund buyouts dominated headlines, taking the opposite path: targeting middle-market companies where family owners sought a partner, not just a buyer. The firm has historically structured its funds to align tightly with founder economics, often taking minority or partnership-style positions rather than control-for-control's-sake. The firm invests across industrials, business services, healthcare, and energy services, typically targeting companies with $50 million to $500 million in enterprise value. Lindsay Goldberg structures its deals primarily as direct platform investments, favoring succession-driven transactions, corporate divestitures, and growth equity rounds where it can serve as the first institutional capital. The firm has built portfolio exposure in North America and Western Europe, with confirmed investments including Schurz Communications, a family-controlled broadband and cloud services company it backed in a succession-driven transaction. The approach is capital-intensive and relationship-dependent — the firm often spends years courting a family before a transaction materializes. Lindsay Goldberg has historically raised funds in the multi-billion-dollar range, with its most recent reported flagship reportedly targeting $4 billion. The firm maintains its headquarters in New York and is known for a lean, deliberate partnership structure rather than rapid headcount growth. In April 2024, Lindsay Goldberg closed its fifth flagship fund at its hard cap, attracting commitments from a concentrated group of long-duration limited partners. The firm does not publicly market a multi-family office or wealth advisory arm, keeping the focus on its private equity partnership model. What separates Lindsay Goldberg from a generic middle-market buyout shop is its commitment to not flipping businesses. The firm's stated average hold period extends well beyond the industry's typical three-to-five-year window, functioning more like a permanent capital partner in certain situations. This structural patience, coupled with a strict refusal to participate in auction processes, creates a different kind of franchise — one that competes on trust rather than price.