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Landmark launches seventh real estate secondaries fund

by Andrea Waitrovich

Landmark Partners has launched Landmark Real Estate Fund VII with a $1 billion fundraising goal. The firm aims to hold a final close by Sept. 30, 2014. The value-added fund will make secondary investments in vehicles investing globally and unconstrained by property type . Landmark Real Estate Fund VI closed in March 2011 with $720 million in equity commitments. The fund acquires secondary stakes in private real estate funds, partnerships and real estate operating companies in the secondary market. Such purchases are made at a discount to face value, usually from pension funds or endowments that have decided to exit investments early.

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