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The University of Connecticut’s men’s basketball team weren’t the only Huskies who celebrated a notable achievement this past March. On March 1, UConn law school alum Francisco L. Borges was appointed president and a managing partner of Landmark Partners Inc., a Simsbury, Connecticut, investment management firm. It’s a move that Landmark expects will push forward its transition into direct equity markets.
With this new appointment, Borges becomes Landmark’s first African American president-a position that was created specifically for him. Among his primary duties will be expanding Landmark Partners’ exposure on the West Coast, in Europe and Asia. “My role is to help lead the growth of this firm, leveraging on its success and performance over the past 14 years.”
Though many investment management firms choose to expand by moving from equity investments into secondary markets, Landmark is doing just the opposite. The firm, which opened its doors in 1984, manages investments for a variety of institutional clients-including public and private pension funds, insurance companies, private foundations and endowments.
It currently specializes in so-called “alternative investments,” such as venture capital, buyouts and mezzanine financing (investments in the subordinated debt of privately owned companies).
As Borges sees it, a combination of his experience, leadership and strategic planning background is what attracted Landmark Partners to him. Indeed, Borges’ background in both the public and private sector makes him uniquely qualified to take Landmark’s experience in secondary markets to the next level. He spent six years in the upper ranks of Financial Guaranty Insurance Co. (a GE Capital Services subsidiary), where he oversaw everything from FGIC’s secondary markets programs to the strategic guidance of its government services companies.
A former politician, Borges also has hands-on experience steer-ing public pension funds-a key client for Landmark Partners. During his two terms as treasurer for the state of Connecticut, from 1986 to 1994, Borges more than doubled the size of the state’s pension and trust portfolio from $4.5 billion to nearly $10 billion.