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Landmark nears $3.25bn PE fund close – exclusive

Landmark Equity Partners XV is expected to hold a final close in December and has already deployed $1.2bn.

By
Chelsea Stevenson
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Landmark Partners expects to hold a final close on its 15th private equity secondaries fund on $3.25 billion in December, according to a source familiar with the matter.

Landmark Equity Partners XV launched in 2012 with a $2.5 billion target, according to PEI’s Research and Analytics division. The fund had collected $1.41 billion as of January, including a $100 million commitment from the New Mexico State Investment Council and a $60 million commitment from the Ohio Police & Fire Pension Fund.

Fund XV has already completed nine transactions totalling $1.2 billion of invested capital, the source added. In July, the fund acquired a stake in Candover 2005 from CDP Investissements, a wholly-owned subsidiary of the Caisse de dépôt et placement du Québec.

Landmark declined to comment.

The firm closed its prior private equity secondaries fund on $1.93 billion in 2010, according to PEI data. Its private equity team is led by managing partners Francisco Borges and Timothy Haviland, who are based in Simsbury, Connecticut.