Hamilton Lane has closed its fifth secondary fund at $3.9 billion, beating its $3 billion target. Hamilton Lane Secondary Fund V’s limited partners include pension funds, Taft-Hartley plans, sovereign wealth funds, endowments, foundations, family offices and qualified high-net-worth individuals.
BALA CYNWYD, PENN. – Feb. 16, 2021 – 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.