Insight

Landmark loses long-time partner Ian Charles

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MIT, MassPRIM, Massachusetts,
Sailboats sit on a dock at the MIT Sailing Pavilion on the Charles River in front of the Boston skyline on January 8, 2015. Reuters/Brian Snyder - RTR4KLI2

Ian Charles, a long-time executive at secondaries firm Landmark Partners, has left to start his own shop, sources told Buyouts. 

Charles worked at Landmark from 2006 to this month. Prior to Landmark, Charles co-founded secondary advisory shop Cogent Partners, which was acquired by Greenhill & Co. in 2015. 

Charles, 41, declined to comment about his future plans.

It’s not clear if Charles’s departure will trigger any key man provisions in the funds. Landmark closed its 16th flagship fund last year on $7 billion. No one from Landmark returned a request for comment. 

The secondary industry has seen a good amount of movement over the past few years. Yann Robard, former head of secondaries at Canada Pension Plan Investment Board, left and in 2015 formed Whitehorse Liquidity Partners. 

Tjarko Hektor, who co-led secondaries at AlpInvest Partners, left and formed New 2nd Capital in 2015. And Mike Bego, former partner at Willowridge Partners, left and in 2015 formed Kline Hill Partners, which focuses on small secondaries deals. 

Update: This story was updated to clarify Charles’s role with Landmark. 

Action Item: Check out Landmark’s Form ADV here: https://bit.ly/2kqDaGe