Arrow Partners, a New York-based family office of Barry Diller and the von Furstenberg family, has bought Landmark Investors, an alternative...

Arrow Partners, a New York-based family office of Barry Diller and the von Furstenberg family, has bought Landmark Investors, an alternative asset management firm, from Baron Advisors, for an undisclosed sum.

Landmark Investors has a number of specialised funds of hedge funds dedicated to value investing and shareholder activism. The firm deploys capital with managers that have a bottoms-up, fundamental methodology and a focus on cash attributes, applying a “private equity approach to the public markets.”

“Acquiring a stake in Landmark is the culmination of a long-standing relationship with the firm,” said Alexandre von Furstenberg of Arrow.

He added: “Beyond consistently ranking in the top five per cent of their peer group without resorting to leverage or speculative tactics, Landmark attracted us with their discipline and specialized approach. We feel that the partners' experience in private equity and M&A gives them a much deeper perspective on value investing than typical public market allocators.”