Landmark Partners has closed its fourteenth private equity secondary fund with $1.93 billion in commitments, a source familiar with the situation said. The fund had a target of $2 billion. Landmark had planned a final close for the first quarter of this year and made it in just under the buzzer, officially closing the fund [...]

UPDATE: The story has been updated to include comment from the firm.

Landmark Partners has shelved fundraising efforts for its new hybrid secondaries fund, a source close to the situation said.

The Simsbury, Conn.-based secondaries firm launched Hybrid Secondary Fund LP earlier this year to invest in private equity funds which are less than 50% funded. The fund had a $400 million target. Merrill Lynch acted as its placement agent.

Thanks to considerable drops in the stock market, private equity investors face the Denominator Effect, an issue Landmark Partners addresses in a new white paper. The Denominator Effect has caused overcommitted private equity investors to refrain from making new commitments or dramatically reduce their future investment page. The Landmark Partners white paper addresses why, in [...]

If there’s one kind of alternative asset investment that looks worse than private equity, it’s probably real estate (you could argue hedge funds too, I suppose, but they don’t have multi-year lock-up periods). As such, investors are looking with greater interest at secondary investments which target real estate funds. There are at least four real [...]