BDT & MSD Partners is an American merchant bank formed in 2023 through the combination of BDT & Company and MSD Partners (originally founded in 2009 by the principals of MSD Capital, the family office of Michael Dell). The firm provides advisory services and partnership-driven investments across private equity, private credit, and real estate to family- and founder-led businesses, managing over $50 billion in total assets under management.
Deal activity increased 200% year-over-year (3 deals in the last 12 months). Average disclosed round size is $496.0M (across 38 rounds with reported amounts).
Portfolio
35
Fund Size
—
Top Stage
Growth
Last 12 Mo
3
Team
Byron Trott
Chairman, Co-Chief Executive Officer & Co-Chief Investment Officer
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 Neko Health | Series C | $700M | Jul 2026 |
 Metropolis | Series D | $500M | Nov 2025 |
 Beacon | Series B | — | Nov 2025 |
| HHD | Unknown | $7.8M | Feb 2025 |
 Beacon | Series B | $250M | Jan 2025 |
 NinjaOne | Unknown | $500M | Jan 2025 |
 Metropolis Technologies | Unknown | $1.8B | May 2024 |
 FloQast | Series E | $100M | Apr 2024 |
 Guesty | Series F | $130M | Apr 2024 |
| NinjaOne | Series C | $231.5M | Feb 2024 |
 Flexport | Series E | $935M | Jan 2024 |
| Neko Health | Series B | $260M | Jan 2024 |
| Metropolis | Series C | $1.1B | Oct 2023 |
| Neko Health | Series C | $65M | Jul 2023 |
 Chelsea Avondale | Series C | — | May 2023 |
 EquipmentShare | Growth | $290M | Apr 2023 |
 Stripe | Growth | $6.5B | Mar 2023 |
 Forward Networks | Series D | $50M | Jan 2023 |
 Forward | Series D | $50M | Jan 2023 |
| Guesty | Series E | $170M | Aug 2022 |
| AAcrisure, LLC | Unknown | $2.1B | May 2022 |
 Fanatics | Growth | — | Mar 2022 |
 Platform Science | Series C | $115M | Feb 2022 |
 6sense | Series E | $200M | Jan 2022 |
 Rhombus | Series A | $10M | Oct 2021 |
Top Co-Investors
Last updated: 20 October 2026