American Infrastructure Said Exploring Sale of Landmark Dividend

American Infrastructure Funds is exploring the sale of Landmark Dividend LLC, a company that acquires and develops real estate and infrastructure such as data-center and solar projects, according to people with knowledge of the matter.

The firm is working with a financial adviser that has begun contacting potential suitors including other infrastructure funds, said the people, who asked not to be identified because the talks are private. Landmark Dividend could fetch $400 million to $500 million, some of the people said.

Landmark Dividend, led by Chief Executive Officer Arthur “Tim” Brazy, manages more than $3 billion across private ...