Law360, New York (June 14, 2016, 2:26 PM EDT) -- One of the firms being created by the breakup of financial service company Old Mutual PLLC announced on Tuesday morning that it will pay approximately $240 million for 60 percent equity interest in secondary private equity firm Landmark Partners.OM Asset Management, one of four companies being formed from the South African firm, will pay the sum in cash at closing for its share of Landmark with a potential for an additional payment based on the growth of the business through 2018, the companies announced. The transaction is expected to close in the third quarter of 2016.“Landmark is precisely the... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
A unit of equity firm PLLC has completed its deal it pay $ 500 m for 60 % of equity shares in Landmark Partners , a secondary private equity firm .