Ares Management has lost a partner and member of its Landmark private equity secondaries investment committee, the third partner to leave the firm since it agreed to acquire Landmark Partners last year.
Charlie Tingue, a partner who had been based in Landmark’s London office since 2013, left the firm last Friday, according to two sources familiar with the matter. He is understood to be on a period of gardening leave with no set next destination.
It is understood that Tingue is a key person on both Landmark Equity Partners XVI and Landmark Equity Partners XVII, though no key person event has been triggered. Fund XVII launched in July 2020 and has raised at least $799.35 million out of a $6 billion target, according to Secondaries Investor data.
He no longer appears on Ares’ website and his LinkedIn profile shows he left the firm this month.
Tingue joined Landmark in 2008 and focused on private equity secondaries. He was promoted to partner in 2018 and was responsible for originating, underwriting and negotiating private equity secondaries deals, as Secondaries Investor reported at the time.
The departure comes eight months after another partner in the private equity secondaries group, John Stott, left the firm. Stott’s resignation came a month after Ares closed its acquisition of Landmark.
In February 2021, real-estate-focused partner Ira Shaw left the firm for Crow Holdings Capital, a Dallas-based investment manager.
Gregory Lombardi, a managing director at Landmark, left the firm to join BlackRock in February this year, according to his LinkedIn profile.
Ares completed its $1.08 billion acquisition of Landmark in June, having agreed to buy the private equity and real estate secondaries firm in March last year. Secondaries became the fifth strand of the credit giant’s business. As part of the deal, Landmark’s 16 partners were to participate in a management incentive plan under which they had to meet targets related to fundraising and revenue generation, as Secondaries Investor reported.
In January, the firm completed its acquisition of Spring Bridge Partners, bringing former Coller Capital investment professionals Sebastien Burdel and Luca Salvato on board to focus on GP-led processes.
A spokesman for Ares did not return a request for comment by press time. Tingue could not be reached for comment.