Landmark Partners racks up $7 bln for PE secondaries fund

Landmark Partners has closed its latest private equity secondaries fund at $7 billion, beating its $4 billion target. The investors of Landmark Equity Partners XVI include public pensions, corporate pensions, insurance companies, asset managers and foundations. In January 2015, Landmark closed its previous secondaries fund at a hard cap of $3.25 billion.

PRESS RELEASE

Simsbury, Boston, Dallas, New York and London – Landmark Partners, a leading investor in the private equity, real estate and infrastructure secondary market, today announced that Landmark Equity Partners XVI (“LEP XVI”), together with its secondary co-investment affiliates, held its final close on September 28, 2018, with commitments of US$7 billion. LEP XVI exceeded its initial target of US$4 billion.

LEP XVI continues Landmark’s dedicated secondaries investment strategy of acquiring interests in existing private equity funds, partnerships and other structured entities globally. The final close of LEP XVI brings Landmark’s total committed capital to approximately US$27 billion.

Francisco L. Borges, Chairman and Managing Partner said, “We have committed to invest US$2.8 billion of LEP XVI’s capital, across 17 secondary transactions. These transactions provide liquidity to investors in these assets and expose Landmark’s investors to a diversified private equity portfolio projected to generate attractive returns. In addition to the capital already deployed, we have a robust pipeline of prospective investments.”

LEP XVI is comprised of institutional investors globally including: public pensions, corporate pensions, insurance companies, asset managers and foundations.

“We thank our existing investors for their continued support and are grateful for the strong partnerships we have built with new investors,” said Timothy L. Haviland, President and Managing Partner. “Our growing investor base contributes to our largest ever fundraise and demonstrates a shared confidence in our investment strategy.”

Landmark’s prior private equity secondary fund, Landmark Equity Partners XV (“LEP XV”) was oversubscribed and closed on its hard-cap of US$3.25 billion in January 2015. LEP XV completed its deployment in 2017. Landmark’s most recent real estate secondary fund, Landmark Real Estate Fund VIII closed on US$3.3 billion in March 2018 and remains the largest real estate secondaries fund raised globally to date.

Past performance is not a guarantee of future returns.

There can be no assurance that LEP XVI will be able to achieve its investment objectives or that it will be able to implement its strategy.
This does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any Fund.
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About Landmark Partners
Landmark Partners specializes in secondary market transactions of private equity, real estate and infrastructure investments, with approximately US$27 billion of committed capital as of September 30, 2018. Founded in 1989, the firm has one of the longest track records in the industry and is a leading source of liquidity to owners of interests in real estate, real asset, venture, mezzanine and buyout limited partnerships. Landmark Partners has more than 100 professionals across five offices in Boston, Dallas, London,
New York and Simsbury, Connecticut.
www.landmarkpartners.com