Hamilton Lane Launches Global Private Secondary Fund, Amasses $365 Million in Assets
- Hamilton Lane launched the Global Private Secondary Fund, targeting high-net-worth and institutional investors worldwide.
- The fund has raised over $365 million, nearly doubling its initial target due to strong investor demand.
- Hamilton Lane's offerings include a flexible investment approach, enhancing value creation through secondary market investments.
Hamilton Lane Expands Its Investment Offerings with New Global Private Secondary Fund
Hamilton Lane Incorporated, a leading private markets asset management firm based in Conshohocken, Pennsylvania, announces the launch of the Hamilton Lane Global Private Secondary Fund (HLGPS). This fund represents a significant addition to Hamilton Lane's $12 billion evergreen platform and is specifically aimed at accredited high-net-worth and institutional investors across various regions, including Europe, the Middle East, Asia, Latin America, and Canada. The firm reports that HLGPS has already amassed over $365 million in assets, nearly doubling its initial target, driven by robust investor demand.
The HLGPS is strategically designed to provide long-term capital appreciation through a diversified portfolio of mature private equity investments in the secondary market. By focusing on high-quality middle market buyout funds and assets with substantial near-term distribution potential, the fund leverages Hamilton Lane's over 24 years of experience in secondary investments. The firm's flexible investment approach includes quarterly limited liquidity, allowing investors to capitalize on the distinct advantages associated with secondary market investments, such as diversification and J-curve mitigation. These features contribute to increased capital deployment and potential value creation through discounted asset acquisitions.
James Martin, Head of Global Client Solutions at Hamilton Lane, underscores the growing significance of the secondary market within private equity and emphasizes that the oversubscription of HLGPS reflects the heightened demand for evergreen funds globally. Keith Brittain, Co-Head of Secondary Investments, further articulates the firm’s commitment to delivering consistent long-term value through a diverse deal flow sourced from a wide array of general partners, limited partners, and brokers. HLGPS exemplifies Hamilton Lane's strategic expansion into secondary investments, enhancing its offerings to meet the evolving needs of a broader investor base.
In a related development, Hamilton Lane also announces an underwritten public offering of 528,705 shares of Class A common stock, expected to generate approximately $77.5 million in gross proceeds. The proceeds are earmarked for facilitating cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. The firm highlights that while it will not receive any funds from the selling stockholder's shares, the offering is conducted under an effective registration statement filed with the Securities and Exchange Commission (SEC). This dual initiative showcases Hamilton Lane's proactive approach to capital management and its commitment to expanding investment opportunities in the private markets.
