Goldman Sachs agrees to buy LCN Capital Partners for about $260 million

Goldman Sachs agreed to acquire LCN Capital Partners, a triple net lease investment manager focused on sale-leaseback and build-to-suit real estate.

• LCN oversees about $3 billion in assets under supervision as of June 30, 2026, with clients spanning institutions, insurers, and wealthy individuals.
• Upfront consideration is about $260 million, with up to $150 million deferred and contingent on performance and service commitments.
• Roughly 80% of total consideration will be paid in equity.
• Closing is expected by end-2026, with LCN’s co-founders and team joining Goldman Sachs Asset Management’s real estate business.