Goldman Sachs to buy LCN Capital Partners in up to US$410 million deal

Goldman Sachs agreed to acquire commercial real estate investment manager LCN Capital Partners for up to $410 million, paying about $260 million at closing plus an earn-out up to $150 million tied to performance and milestones. About 80% of consideration will be in Goldman Sachs stock. Closing is expected before year-end 2026, pending regulation. LCN manages about $3 billion in assets as of June 30, 2026.

Goldman Sachs Group agreed to acquire LCN Capital Partners, a real-estate investment manager focused on sale-leaseback and net lease strategies. Goldman will pay about $260 million upfront, plus up to $150 million deferred and contingent based on performance. About 80% will be in equity. The deal is expected to close by end-2026, pending approvals.

Goldman Sachs said it will acquire commercial real estate investor LCN Capital Partners in a deal worth up to $410 million. Goldman will pay about $260 million upfront, with up to $150 million more based on performance and service targets. About 80% of consideration will be in stock, and the deal is expected to close by end-2026.

JPMorgan (JPM), Morgan Stanley (MS) and Goldman Sachs (GS) rose after hours after the Fed stress test results. Each raised quarterly dividends and announced buybacks. JPM approved a $50B repurchase and lifted its dividend to $1.65. MS raised to $1.15 and reauthorized up to $20B buybacks. GS increased to $5. Fed said all 32 banks stayed above CET1 minimums.

Goldman Sachs said on Aug. 12 it will buy NEOS Investments for up to $2.25 billion, pending regulatory approval, to add 19 options-income ETFs and about $30 billion in assets. NEOS runs crypto income ETFs including BTCI, XBCI and NEHI, which generate monthly distributions via covered calls on Bitcoin-linked ETPs. The deal targets completion by early 2027.

Goldman Sachs said it partnered with Nvidia to help set up independent compute platforms aimed at mobilizing more than $500 billion of third-party capital for AI infrastructure, subject to final agreements. Goldman will support debt placement via private credit and public markets, and provide junior capital and private credit financing through asset management. Other partners include Apollo, BlackRock, Blackstone, Brookfield and KKR.