Landmark Partners Sells Majority Interest to OM Asset Management
Ropes & Gray represented Landmark Partners, LLC, a leading investor in the private equity, real estate and real asset secondary market, in the sale of a majority interest in Landmark to OM Asset Management plc (OMAM).
Under the terms of the agreement, OMAM will acquire a 60 percent interest and Landmark’s management team will retain 40 percent ownership. The transaction, announced June 14, is expected to close by August 31.
Founded in 1989, Landmark is a leading source of liquidity to owners of interests in real estate, real asset, venture, mezzanine and buyout limited partnerships. OMAM is a global, multiboutique asset management company with $218 billion of assets under management as of March 31, 2016.
The Ropes & Gray asset management M&A team included M&A partners William Mone and Michael Roh, labor & employment partner Megan Bisk, and tax partner Christopher Leich.