Landmark Partners closes $3.25 bln for 15th secondary PE fund

Landmark Partners has closed its oversubscribed 15th secondary private equity fund at $3.25 billion, sweeping past its initial $2.5 billion target.

LEP XV’s limited partners include sovereign wealth funds, public pensions, corporate pensions, insurance companies, asset managers, and global foundations.

Landmark Equity Partners XIV raised $2 billion in 2008, generating an average IRR of 17.66 percent and an average multiple of 1.33x, as of June 30, 2014, according to Bison data.

Kirkland & Ellis advised Landmark Partners in the LEP XV fundraising.

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