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Private Equity

Landmark Partners raises $7 billion for secondary private equity fund

Landmark Partners closed the $7 billion Landmark Equity Partners XVI, its latest secondary private equity fund.

The fund, which acquires interests in existing private equity funds, partnerships and other structured entities, well exceeded its original $4 billion target, the alternatives money manager announced in a news release Thursday.

The prior secondary fund, Landmark Equity Partners XV, closed at its hard cap of $3.25 billion in January 2015.

Investors include the $209.2 billion New York State Common Retirement Fund, Albany; the $98.2 billion North Carolina Retirement Systems, Raleigh; the $34 billion Connecticut Retirement Plans & Trust Funds, Hartford; the $28.3 billion Texas Employees Retirement System, Austin; the $24.3 billion New Mexico State Investment Council, Santa Fe; the $16.5 billion Hawaii Employees' Retirement System, Honolulu; and the $2.8 billion San Antonio Fire & Police Pension Fund.