Secondaries PE major Landmark Partners could be put on block by owner at about $1bn valuation


Secondaries private equity major Landmark Partners could reportedly be put on the block by owner BrightSphere Investment Group with hopes of a $1bn valuation.

BrightSphere is exploring the sale amid pressure for returns from its largest shareholder, hedge fund Paulson & Co, Reuters said, citing unnamed people it said were familiar with the matter.

Landmark raised $7bn for its most recent flagship secondaries fund and co-investment vehicle, Landmark Partners XVI, in 2018, and collected $3.3bn for its eighth real estate secondaries fund the same year.

The firm, which was founded in 1990, has raised a total of about $28bn of committed capital for its funds.

Landmark filed to raise Fund XVII in the summer with the US SEC, but no target was given.

Earlier this year Landmark Partners revealed it had raised $296m towards its second infrastructure investment fund.

The Connecticut-headquartered firm is targeting $1.5bn for Fund II, according to a report from Infrastructure Investor.

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