Hamilton Lane has raised $200 million for its inaugural Small Business Investment Company fund. Investors included the New York State Common Retirement Fund, TD Bank, Bank of NY Mellon, HSBC Bank, Deutsche Bank and First Niagara Bank. The SBIC fund will focus on New York-based small businesses in various sectors.
Bala Cynwyd, Penn. – November 10, 2015 – Hamilton Lane, a leading global private markets asset management firm, today announced it has successfully closed on $200 million in private capital for its first Small Business Investment Company (SBIC) Fund, with significant support from anchor investor, the New York State Common Retirement Fund (NYSCRF), as well as a number of other leading institutional investors, including TD Bank, Bank of NY Mellon, HSBC Bank, Deutsche Bank and First Niagara Bank.
Through the SBIC Program, the U.S. Small Business Administration (SBA) provides funding to qualified investment management firms with expertise in certain sectors or industries. The New York Credit SBIC Fund (“the Fund” or “the SBIC Fund”) will provide $200 million in debt and mezzanine financing to generate attractive investment returns while supporting small business growth throughout the state of New York.
“We are excited to be part of the SBA program and to have the support of such reputable institutional investors,” said Erik Hirsch, CIO of Hamilton Lane. “We continue to be committed to bringing our global platform and world-class resources to bear in order to develop leading investment solutions and help our clients access unique private markets investment opportunities.”
The SBIC Fund is the latest addition to Hamilton Lane’s existing credit platform, which the firm has been building out for more than 17 years and which now boasts a robust network of GPs and entrepreneurs, giving Hamilton Lane access to a significant amount of direct equity and credit deal flow. The Fund will start investing in small businesses across a variety of industry sectors in accordance with SBIC investment guidelines, targeting companies that are based in or have material operations in the state of New York.
About Hamilton Lane
Hamilton Lane is an independent alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. The firm has been dedicated to private markets investing for more than two decades and currently has more than 250 employees operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With more than $239 billion in total assets under management and supervision1, 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.
1 As of September 30, 2015