Landmark Partners’ seventh real estate secondaries fund is on pace to be oversubscribed. Although Landmark officials declined to comment, a source familiar with the matter told sister publication Secondaries Investor that the fund has received more interest than it has capacity to handle.
Landmark Real Estate Partners VII was launched earlier this year with a $1 billion target. As of August, it had collected $670 million in commitments, after holding a first close on $560 million in April. The fund is expected to close within the next few months.
Limited partners in Fund VII include the Oklahoma Teachers' Retirement System and the Board of Regents of the State of Iowa, according to PERE's Research & Analytics division. The Nebraska State Investment Council also is an LP in the fund. It initially committed $40 million from its defined benefit portfolio but decided to commit an additional $7.5 million from its endowment fund in September.
To read the rest of the story, visit our sister site Secondaries Investor.
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