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OMAM to take majority stake in Landmark Partners for about $240 mln

OM Asset Management has agreed to acquire a majority stake in secondary private equity firm Landmark Partners.

OMAM will pay Landmark about $240 million in cash.

The deal is expected to be completed in the third quarter of this year.

Since its inception in 1989, Landmark has closed over 500 transactions with committed capital of $15.5 billion. The firm has also taken stakes in 1,900 partnerships, managed by over 700 general partners.

Managing Partners Francisco L. Borges and Timothy L. Haviland lead the 89-member team based in Boston, London, New York and Simsbury, Connecticut.

As of March 31, 2016, OMAM manages $218 billion in assets.

Photo of a handshake. Courtesy of Reuters/Laszlo Balogh