Arrow Partners, the family office of Barry Diller and the von Furstenberg family, acquired a minority stake in hedge fund-of-funds manager Landmark Investors from Baron Advisors. Neither Sebastian Stubbe, a Landmark partner, nor Jeffrey T. Yager, a spokesman for Baron Advisors, returned calls seeking terms of the deal.
Landmark manages private hedge funds of funds specializing in value investment and shareholder activism that are not available to the public. "Acquiring a stake in Landmark is the culmination of a longstanding relationship with the firm," Alexandre von Furstenberg, spokesman for Arrow, said in a statement. "Beyond consistently ranking in the top 5% of their peer group without resorting to leverage or speculative tactics, Landmark attracted us with their discipline and specialized approach." Landmark principals Ahmed Fattouh, John Salib and Mr. Stubbe will remain with the firm after the ownership change.