SIMSBURY, Conn., BOSTON, NEW YORK & LONDON--(BUSINESS WIRE)--Landmark Partners, a leading investor in the private equity, real estate and real asset secondary market, today announced that it has entered into a strategic partnership with OM Asset Management plc (NYSE: OMAM).
OMAM is a global, multi-boutique asset management company with US$218 billion of assets under management as of March 31, 2016. OMAM’s partnership approach, which includes equity ownership at the Affiliate level, aligns the interests of OMAM and its Affiliates to work collaboratively in accelerating their growth. OMAM’s business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm.
Under the terms of the purchase agreement, OMAM will acquire a 60% interest and Landmark’s management team will retain 40% ownership. The transaction is expected to close by August 31.
The decision to partner with OMAM is the culmination of an assiduous thought process aimed at ensuring that the success and industry leadership of Landmark remains robust and sustainable well into the future. Importantly, the objectives of our partner and our agreement are consistent with the interests of our investors.
“We will continue to operate as we have historically and remain operationally autonomous across the organization,” said Timothy L. Haviland, Managing Partner at Landmark. “The stability and continuity of Landmark’s management team is further preserved. There will be no changes to our investment process, investment decision authority or investment teams, nor is anyone leaving. The same extends to all other teams and individuals within Landmark.”
Francisco L. Borges, Managing Partner at Landmark Partners commented, “OMAM provides strategic and operational benefits to Landmark, including global distribution capability and new product development. We are thrilled to enter into this partnership with OMAM, which is structured to ensure alignment with the interests of our investors and organization.”
Peter L. Bain, OMAM’s President and Chief Executive Officer said, “We are delighted to further diversify and expand our footprint into the secondary private equity, real estate and real asset space, with Landmark’s dedicated, experienced and talented team. We look forward to working together and continuing to grow our business.”
Goldman, Sachs & Co. acted as the exclusive financial advisor to Landmark Partners, LLC with respect to this transaction. Ropes & Gray LLP acted as legal advisor to Landmark Partners, LLC on the transaction.
Past performance is not indicative of future results.
About Landmark Partners:
Landmark Partners specializes in secondary market transactions of private equity, real estate and real assets investments, with approximately US$15.5 billion of committed capital as of March 31, 2016. Founded in 1989, the firm has one of the longest track records in the industry and is a leading source of liquidity to owners of interests in real estate, real asset, venture, mezzanine and buyout limited partnerships. Landmark has completed over 500 transactions in more than 25 years and acquired interests in over 1,900 partnerships, managed by over 700 general partners. Landmark Partners has 89 professionals across four offices in Simsbury, Boston, New York and London.
About OMAM
OMAM is a global, multi-boutique asset management company with US$218 billion of assets under management as of March 31, 2016. Its diverse Affiliates offer leading, alpha generating investment products to investors around the world. OMAM’s partnership approach, which includes equity ownership at the Affiliate level and a profit sharing relationship between OMAM and its Affiliates, aligns the interests of the Company and its Affiliates to work collaboratively in accelerating their growth. OMAM’s business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm.