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DFO Management
DFO Management, LLC (formerly MSD Capital) is an American family office that manages the capital of Michael Dell and his family. The firm, which is based in New York City and has offices in Santa Monica and West Palm Beach, was formed in 1998.
In 1998, Michael Dell recruited John C. Phelan and Glenn R. Fuhrman to form MSD Capital to manage his family's wealth. For over 20 years, Phelan and Fuhrman had been co-managing partners of MSD Capital, until the end of 2019 when Fuhrman retired. In 2021, Gregg Lemkau joined as CEO and has run the firm since. Phelan continued as chief investment officer until his retirement in June 2022.
In December 2022, MSD Capital was restructured to form DFO Management.
According to information on MSD Capital's website, the firm has a broad investment mandate and has the flexibility to invest in a wide variety of asset classes. Since its founding in 1998 through 2019, MSD Capital has generated more than $17 billion in profits.
Based on the most recent Form 13F filings by MSD Capital, its holding of the equity of public companies include PVH Corp., the apparel company that owns brands including Calvin Klein and Tommy Hilfiger, and Dine Brands Global, known for its IHOP and Applebee's restaurants.
Among MSD Capital's real estate holdings are the luxury resorts Four Seasons Resort Maui and Four Seasons Resort Hualalai, both located in Hawaii.
In 2008, MSD Capital joined a consortium to acquire the assets of IndyMac Bank for around $13.9 billion, renaming it OneWest Bank.
In 2013, MSD Capital participated in the $24 billion acquisition of Dell Inc. by Michael Dell and Silver Lake, as well as Dell's $60 billion merger with EMC in 2016 and the company's 2018 IPO.
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DFO Management
DFO Management, LLC (formerly MSD Capital) is an American family office that manages the capital of Michael Dell and his family. The firm, which is based in New York City and has offices in Santa Monica and West Palm Beach, was formed in 1998.
In 1998, Michael Dell recruited John C. Phelan and Glenn R. Fuhrman to form MSD Capital to manage his family's wealth. For over 20 years, Phelan and Fuhrman had been co-managing partners of MSD Capital, until the end of 2019 when Fuhrman retired. In 2021, Gregg Lemkau joined as CEO and has run the firm since. Phelan continued as chief investment officer until his retirement in June 2022.
In December 2022, MSD Capital was restructured to form DFO Management.
According to information on MSD Capital's website, the firm has a broad investment mandate and has the flexibility to invest in a wide variety of asset classes. Since its founding in 1998 through 2019, MSD Capital has generated more than $17 billion in profits.
Based on the most recent Form 13F filings by MSD Capital, its holding of the equity of public companies include PVH Corp., the apparel company that owns brands including Calvin Klein and Tommy Hilfiger, and Dine Brands Global, known for its IHOP and Applebee's restaurants.
Among MSD Capital's real estate holdings are the luxury resorts Four Seasons Resort Maui and Four Seasons Resort Hualalai, both located in Hawaii.
In 2008, MSD Capital joined a consortium to acquire the assets of IndyMac Bank for around $13.9 billion, renaming it OneWest Bank.
In 2013, MSD Capital participated in the $24 billion acquisition of Dell Inc. by Michael Dell and Silver Lake, as well as Dell's $60 billion merger with EMC in 2016 and the company's 2018 IPO.