Goldman Landow Capital: A Mission Born from Market Disruption

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Goldman Landow Capital was founded in January 2013 by Wall Street veteran Lew Goldman, who set out to demonstrate that owners of U.S. Treasury securities could enhance portfolio returns—without taking on the kinds of risks that led to steep losses during the credit crisis.

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At the time, Lew recognized a growing challenge: access to dealer balance sheets was becoming increasingly restricted, and the U.S. Treasury trading ecosystem was becoming fragmented. A solution was needed—one that could restore liquidity to the market while preserving the safety and simplicity of Treasury ownership.

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This insight shaped Goldman Landow’s mission: to introduce liquidity by offering yield enhancement strategies that do not introduce additional risk.

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Lew’s vision was clear: the key to unlocking liquidity lay in lowering or stabilizing borrowing costs for speculators—the market’s liquidity engine—while simultaneously compensating lenders of U.S. Treasury securities in a way that benefits both sides.

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After years of research, collaboration with academics, and extensive dialogue with industry experts and U.S. Treasury Beneficial Owners, Lew developed a breakthrough: a simple, two-step repo process. This strategy locks in borrowing costs and generates yield enhancement for lenders—all while eliminating the two primary risks associated with securities lending: counterparty risk and cash collateral reinvestment risk.

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