Landmark Partners has promoted five people in its private equity team as the firm seeks more than $6 billion across two funds.
The most senior promotion at the Simsbury, Connecticut-headquartered firm is Kathryn Regan’s move to managing director, according to a spokeswoman.
Regan is an almost two decade Landmark veteran and has worked on a range of portfolio acquisitions, fund recapitalisations, joint venture partnerships and primary commitments.
The firm has also promoted Ibrahim Majeed to director; Alvin Butler and Sean Silva to vice-president; and Tamir Yewdaev to senior associate.
Majeed joined Landmark in 2008 from Goldman Sachs, where he worked in the structured product division; Butler joined Landmark in 2014 from mezzanine investor Penta Mezzanine Fund; Silva works in the quantitative research group and joined the firm from Cambridge Associates; and Yewdaev joined Landmark in 2014 from Cogent Partners, now Greenhill Cogent.
The firm is raising Landmark Equity Partners XVI, which is seeking $4 billion and has a $4.7 billion hard-cap, according to materials from a 25 October New Mexico State Investment Council meeting. The fund’s predecessor, Landmark Equity Partners XV, closed on $3.3 billion in 2014, according to PEI data. Landmark Equity Partners XVI recently sourced a $100 million commitment from New Mexico State Investment Council and will invest globally with a focus on the US and Europe.
The firm is also raising Landmark Real Estate Partners VIII targeting $2 billion – the largest amount ever sought for the asset class. The firm’s previous real estate fund closed on its $1.6 billion hard-cap in May 2015.
Landmark’s five most recent funds have generated a 12 percent net internal rate of return and a 1.3x return multiple, according to the New Mexico pension materials.
Landmark has committed $11 billion in private equity through over 325 deals: $4.1 billion in real estate through over 100 deals, and $450 million through eight deals.