(Bloomberg) -- Goldman Sachs Group Inc. veteran Greg Olafson is leaving the firm to join merchant bank BDT & MSD Partners as president, co-head of global credit and co-chief investment officer.
Olafson will join the firm in July and report to its co-chief executive officers Byron Trott and Gregg Lemkau. The executive was most recently global head of private credit within Goldman’s asset management arm.
“His investing acumen will further strengthen our ability to meet the investing needs of founders, business-owning families, and likeminded investors,” said Trott, who is also the company’s co-chief investment officer. Lemkau, who worked at Goldman with Olafson, called his track record “unparalleled.”
Olafson will oversee private credit alongside co-head of global credit Rob Platek, who will relinquish that role at the end of the year to become chairman of global credit. He will also lead investment decisions for the firm’s private capital funds with Trott and Dan Jester, who is also president and co-chief investment officer.
BDT & MSD amassed $14 billion for its most recent private capital fund.
In a memo to staff seen by Bloomberg, Goldman’s Global Head of Asset & Wealth Management Marc Nachmann thanked Olafson for his contributions during his nearly 24-year career at the firm, including for hiring and training several colleagues.
Olafson joined Goldman in 2001 as an associate in the investment banking division and was named partner in 2012, according to the memo. His roles included president of alternatives, with oversight of the firm’s private equity, private credit, growth equity, real estate, infrastructure and sustainable investing efforts. He also led the firm’s European special situations group.
“Greg is a tremendous leader, trusted teammate, smart investor, and all-around great person,” said Alan Waxman, the CEO of Sixth Street Partners, who worked with Olafson at Goldman.
Jean Hsu, the former global head of private debt at California Public Employees’ Retirement System, praised Olafson for his “sharp discernment in evaluating investment opportunities” and his “ability to act decisively.”
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