Hamilton Lane said June 24 that its latest co-investment fund closed on about $1.7 billion. Hamilton Lane Co-Investment Fund IV will provide direct equity capital into buyout and growth transactions alongside GPs.
Hamilton Lane Closes Latest Co-Investment Fund above Target
The firm’s fourth co-investment fund is the largest to-date, with approximately $1.7B in total commitments from investors around the world
Bala Cynwyd, Penn. – June 24, 2019 – Hamilton Lane (NASDAQ: HLNE) today announced the final closing of Hamilton Lane Co-Investment Fund IV (“the Fund”). The Fund closed above its target, with approximately $1.7B in total commitments from a wide range of global investors including public pensions, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, high-net-worth individuals and other financial institutions.
This fund represents the fourth dedicated vehicle of its kind and is a key component of Hamilton Lane’s co-investment activity globally. The Fund’s strategy is to provide direct equity capital into buyout and growth transactions alongside leading general partners, as well as unique diversification across enterprise value, geography and industry.
Jackie Rantanen, Managing Director and Head of Product Management, commented: “As interest in co-investing continues to grow, we believe the combination of Hamilton Lane’s scale, data and technology advantages and global platform offers a differentiated and positive experience for our investors. We were able to close the Fund above target thanks to the strong interest from a diverse group of LPs, well over half of whom were repeat investors from our last co-investment fund.”
Head of Investments Brian Gildea commented: “While co-investing continues to offer interesting diversification and investment opportunities for LPs, it can also present challenges from an executional perspective. Our 23-year track record of strong performance and transactional expertise has helped to make us a trusted partner to leading GPs, and our platform has provided unique access for LPs to this area of the private markets. We’re proud of our position as one of the largest co-investors globally, having deployed more than $1.3 billion across our equity co-investment platform in 2018 alone.”
The Fund is supported by a dedicated team of 22 co-investment professionals around the world, and is an extension of Hamilton Lane’s broader co-investment global equity platform, which includes commingled co-investment funds and discretionary separate accounts, and represents over $4.9 billion in assets under management and supervision as of March 31, 2019.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 27 years, the firm currently employs approximately 370 professionals operating in offices throughout North America, Europe, Asia-Pacific, Latin America and the Middle East. With approximately $484 billion in total assets under management and supervision as of March 31, 2019, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. 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, risk, 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 us; our ability to comply with investment guidelines set by our clients; 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, 2019 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.