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Hamilton Lane raises $516 mln for ninth fund-of-funds

Hamilton Lane Advisors closed its ninth fund-of-funds at $516 million, beating its $400 million target.

The limited partners of Hamilton Lane Private Equity Fund IX LP include public pension funds, Taft-Hartley pension plans, endowments and foundations.

The fund-of-funds will target small-to-mid-cap funds and be a mix of primaries, secondaries and co-investments.

According to the Bala Cynwyd, Pennsylvania-based alternative investment firm, Fund IX is Hamilton Lane’s largest fund-to-funds ever.

Hamilton Lane’s previous fund-of-funds closed at $426.8 million, sweeping past its $400 million target. No information was available on the fund-of-funds’ performance.

Photo: Hundred-dollar bills are counted. Reuters/Amr Abdallah Dalsh