Hamilton Lane has agreed to acquire Denver-based 361 Capital, a boutique alternative asset management firm. No financial terms were disclosed. The deal is expected to close later this quarter.
Bala Cynwyd, Penn. – Jan. 28, 2021 – Leading private markets investment management firm Hamilton Lane (NASDAQ: HLNE) today announced plans to acquire the business of 361 Capital, LLC (“361 Capital”), a Denver-based boutique alternative asset management firm.
The acquisition aims to expand Hamilton Lane’s presence and capabilities in the U.S. private wealth channel. The 361 Capital team, led by Chairman and CEO Tom Florence and President Josh Vail, will remain in Denver, CO, growing Hamilton Lane’s footprint to 18 locations around the world.
The deal is the latest development in Hamilton Lane’s expansion into the private wealth universe, following the recent launch of the Hamilton Lane Private Asset Fund (“PAF”), a closed-end management investment company, available to qualified U.S. investors that offers a portfolio of private equity and private credit assets through a single investment. In addition, the Hamilton Lane Global Private Assets Fund (“GPA”) launched in 2019, and is open to high net worth and wholesale investors in Australia and New Zealand, Canada, and parts of Europe, Asia, Latin America and the Middle East. GPA has seen strong demand to-date, with AUM more than quintupling since inception, an indication of the growing interest in private markets from a broader swath of investors.
Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane, commented: “We recognized the strategic opportunity and benefit of making the private markets accessible to a broader universe of investors, and enabling them to gain access to the asset class’s return potential. Through our GPA and PAF Funds, our strong platform and investment expertise, and our proven ability to service a diverse client base, we are committed to reaching, educating and supporting private wealth investors interested in the private markets. Bringing on the experienced and strong team from 361 Capital furthers our ability to deliver on that objective.”
Tom Florence, chairman and CEO of 361 Capital, said: “Our firms share an overarching commitment to delivering world-class client service, as well as award-winning cultures. We believe our 20 years of experience in the alternative private wealth space, together with Hamilton Lane’s investment platform, reach and deal flow, will be a powerful combination. We are happy to be joining a highly respected global leader in the private markets.”
Closing is expected to occur later this quarter and is subject to customary closing conditions. 361 Capital is being represented by Piper Sandler & Company in the transaction.
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 $547 billion in assets under management and supervision, composed of approximately $73 billion in discretionary assets and over $474 billion in advisory assets, as of September 30, 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.
ABOUT 361 CAPITAL, LLC
Founded in 2001, 361 Capital is a leader in alternative investing. The firm offers a suite of actively managed alternative strategies that seek to deliver meaningful alpha, manage risk and offer diversification potential to investor portfolios.
361 Capital is majority employee-owned with strategic investments from Lovell Minnick Partners and Lighthouse Investment Partners.