Hamilton Lane Closes its Largest Fund To-Date, Collecting $3.9 Billion for its Fifth Secondaries Vehicle
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Firm’s largest fund receives strong demand from globally-diverse LP base, well exceeding its target
BALA CYNWYD, Pa., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Leading private markets investment management firm Hamilton Lane (NASDAQ: HLNE) today announced the final close of Hamilton Lane Secondary Fund V, L.P. (the "Fund" or “Fund V”), a global and diversified private equity secondary vehicle. The Fund closed with $3.9 billion of capital commitments, exceeding its $3 billion target and marking Hamilton Lane’s largest fundraise to-date.
Fund V received strong demand from institutional investors, including pension funds, Taft-Hartley plans, sovereign wealth funds, endowments, foundations, family offices, qualified high-net-worth individuals, and other financial institutions from around the Americas, EMEA, Asia and Israel. Meaningful support from existing investors in the program was complemented by a significant number of new investors globally.
“We are thrilled to be announcing this record fundraise and want to extend our gratitude to our investors for their tremendous support. We believe the growth of our secondary business, and in particular the interest in this latest Fund, is an indication that the opportunity set driven by the Hamilton Lane platform is really resonating with the market,” said Tom Kerr, Managing Director and Global Head of Secondaries. “Over the course of three decades, Hamilton Lane has built an extensive global network across the private markets, which continues to differentiate our secondary platform and enables us to identify what we believe are attractive opportunities for investors.”
Hamilton Lane has been active in the secondary space since 2000. The Fund’s predecessor, Secondary Fund IV, closed on $1.9 billion in commitments in 2017. The size of Fund V marks a milestone for Hamilton Lane and represents the continued success of the firm's secondary program, as well as its broader asset management business.
Ryan Cooney, Product Manager of Hamilton Lane’s secondary platform, commented: “This is an exciting time in the secondary market. We have been humbled by the interest and support from a terrific base of LPs from around the world, and we now turn our focus to the evolving opportunity set, and leveraging Hamilton Lane’s broad footprint to find opportunities where we believe our relationships and information provide clear competitive advantages.”
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 29 years, the firm currently employs more than 400 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has approximately $657 billion in assets under management and supervision, composed of approximately $76 billion in discretionary assets and approximately $581 billion in advisory assets, as of December 31, 2020. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.
Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business. All forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different, including risks relating to: our ability to manage growth, fund performance, changes in our regulatory environment and tax status; market conditions generally; our ability to access suitable investment opportunities for our clients; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; defaults by clients and third-party investors on their obligations to fund commitments; our ability to comply with investment guidelines set by our clients; our ability to consummate planned acquisitions and successfully integrate the acquired businesses with ours; our ability to manage risks associated with pursuing new lines of business; our ability to manage the effects of events outside of our control; and our ability to receive distributions from Hamilton Lane Advisors, L.L.C. to fund our payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” detailed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 31, 2020 and in our subsequent reports filed from time to time with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.
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