What does Landmark Partners do?

What does Landmark Partners do?

Landmark is a private equity and real estate investment company specializing in secondary funds. The firm has one of the longest track records in the industry and is a leading source of liquidity to owners of interests in venture, mezzanine, buyout, and real estate limited partnerships.

What does Blackstone strategic partners do?

Strategic Partners is Blackstone’s dedicated secondary and fund solutions platform. Since 2000 Strategic Partners has raised over $43 billion dedicated to private equity, infrastructure and real estate fund investing.

What are real estate secondaries?

Simply put, secondaries are investments made in existing assets, structures or situations that bring fresh equity, reset an investment’s clock and re-align its ownership. Real estate is an attractive corner of the secondary market, particularly given the advent of transactions known as GP-led recapitalizations.

What is a secondary sale in private equity?

A secondary sale is the sale by an existing stockholder of shares in a private company to a third party that does not occur in connection with an acquisition of the company. When a lot of secondary sales happen together as part of the same transaction, it is sometimes referred to as a liquidity round.

Is Blackstone a limited partner?

Blackstone Inc. U.S. Blackstone Inc. is an American alternative investment management company based in New York City. In 2019, Blackstone converted from a publicly traded partnership into a C-type corporation.

Is Blackstone a general partner?

General partners are typically the managing directors in a private equity firm. They make decisions related to making, monitoring, and disposing of investments. The general partners hold a stake in Blackstone through Blackstone Group Management LLC and Blackstone Partners LLC.

What is a fund recapitalization?

Recapitalization is the process of restructuring a company’s debt and equity mixture, often to stabilize a company’s capital structure. The process mainly involves the exchange of one form of financing for another, such as removing preferred shares from the company’s capital structure and replacing them with bonds.

What is real estate recapitalization?

Recapitalization is a strategy used to reorganize a business’s capital structure by replacing equity with debt. In this way, franchisees can borrow against their existing businesses to free up capital that can be used to open new franchise units.

What is Jeremy Coller worth?

He is a member of the Advisory Council of The Elders, the international peace and human rights NGO founded by Nelson Mandela. In 2019 the Sunday Times Rich List gave Coller’s net worth to be £320 million.

What is SBO in private equity?

The term secondary buyout (SBO) refers to a transaction involving the sale of a portfolio company by one financial sponsor or private equity firm to another. This kind of buyout indicates the end of the seller’s control or involvement with the company. Secondary buyouts have historically been perceived as panic sales.

Are BlackRock and Blackstone related?

By 1992, Blackstone had a stake equating to about 35% of the company, and Schwarzman and Fink were considering selling shares to the public. The firm adopted the name BlackRock in 1992, and by the end of that year, BlackRock was managing $17 billion in assets.

Why did Blackstone buy Ancestry?

Blackstone says she and others needn’t worry. “We invested in Ancestry because it is a clear leader in its industry with a digital subscription business that has continued to grow significantly,” said Matt Anderson, a spokesman for the investment firm with more than $600 billion in assets under management.

What kind of assets does Landmark Partners manage?

With approximately $19.6 billion of AUM as of March 31, 2021, Landmark Partners, an Ares company, has pioneered and innovated within secondary markets across three decades and a range of alternative asset classes, including private equity, real estate and infrastructure.

What was the value of the landmark acquisition?

The transaction is valued at $1.08 billion, including approximately $787 million in cash and approximately $293 million in Ares Operating Group Units, in each case subject to certain adjustments.

When does the Ares acquisition of Landmark Partners close?

The transaction is expected to close in the second quarter of 2021 and is subject to customary closing conditions, including regulatory approvals. RBC Capital Markets, LLC and Credit Suisse Securities (USA) LLC acted as financial advisors to Ares and Kirkland & Ellis LLP served as legal counsel.