Landmark’s next PE secondaries fund has 14-year term

Landmark Partners, StepStone, State of Connecticut Retirement Plans and Trust Funds, private equity, pension funds
Map of New York State in USA. Detail from the World Map. omersukrugoksu/iStock/Getty Images
  • Long fund life, distribution waterfall flagged in LP doc
  • Third-party owner to put up majority of GP commitment
  • Fund targeting $4 bln, with $2.4 bln raised
Secondaries firm Landmark Partners’ next private equity vehicle will have a 14-year fund life, with a possible two-year extension at the GP’s sole discretion, pension documents say. This and other unique terms are listed in an investment evaluation prepared by StepStone for State ...

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.

This content is available for Buyouts subscribers only. Request a free trial to get access for a limited period

If you already have an active Buyouts subscription, please sign in to view this article.

Digital Edition

To read a digital copy of our latest magazine

click here

PE News Briefs