Landmark promotes five

The promotions include one to MD as the secondaries specialist gears up to raise more than $6bn across a private equity and real estate funds.

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.

Kathryn Regan
Kathryn Regan
Ibrahim Majeed
Ibrahim Majeed
Alvin Butler
Alvin Butler
Sean Silva
Sean Silva
Tamir Yewdaev
Tamir Yewdaev

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.