BrightSphere looks to sell Landmark stake

BrightSphere Investment Group is mulling the sale of its 60% stake in Landmark Partners in a potential $1 billion deal, according to Reuters. Founded in 1989, Landmark is a secondaries investor active in private equity, real estate and infrastructure. BrightSphere, which was formerly known as OM Asset Management, paid at least $240 million to acquire its controlling stake in Landmark in 2016, with the potential for additional future payments based on certain growth milestones.

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