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peHUB First Read

This Tuesday morning read all about Lady Gaga’s split from her rising tech investor; the difference between public market and private equity performance and fund launches from Hamilton Lane and Rothenberg Ventures.

GrandTetons

Wyoming Earmarks $600M for PE, Snubs Cheyenne Capital

The Wyoming Loan and Investment Board plans to invest $600 million into three separate managed accounts over the next three to five years, with Hamilton Lane and Neuberger Berman each managing $200 million separate accounts. PE shop Cheyenne Capital, which currently manages a separate account for Wyoming, was said to not meet the state’s new requirements due to its size.

Hamilton Lane Acquires Shott Capital Management

Hamilton Lane has acquired Shott Capital Management. Shott Capital Management provides private equity and distribution management services for institutional investors, including major public and private pension plans, foundations, endowments, and other financial institutions. The firm has offices in San Francisco and Boston.

Hamilton Lane Expands European Team with Senior Exec

Global private equity asset management firm Hamilton Lane is expanding its Europe-based presence with the addition of Paul Waller to the newly-created role of partner in its London office. Waller recently retired as a managing partner from 3i after 35 years and will focus primarily on client development and overall firm marketing initiatives.

Hamilton Lane Invests in iLevel

Hamilton Lane has made a “material investment” in iLevel Solutions. Financial terms weren’t announced. Erik Hirsch, Hamilton Lane’s chief investment officer, is also joining iLevel’s board. New York-based iLevel provides private equity software and reporting services.

Hamilton Lane Approved to Manage Silver State Opportunity Fund

Hamilton Lane has been officially approved by the Nevada Capital Investment Corporation and the Nevada Board of Examiners to manage its Silver State Opportunity Fund. As part of the mandate, Hamilton Lane will be responsible for evaluating and selecting venture capital and private equity funds that will invest in Nevada companies and will also be […]

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AnaCap Financial Partners Raises $562m for Fund II

Financial services specialist AnaCap Financial Partners has reached a final close on AnaCap Credit Opportunities Fund II reaching a 350 million pounds ($562.1 million) hard cap. Investors in the Fund include the State of New Jersey, Hamilton Lane and Ohio Public Employees Retirement System. PRESS RELEASE AnaCap Financial Partners (“AnaCap”) has reached a final closing […]

Hamilton Lane Expands into Brazil

Hamilton Lane, which provides PE asset management services, said Thursday that it plans to open an office in Rio de Janeiro. It has hired Ricardo Fernandez Silva Jr. and Filipe Caldas as VPs to expand the firm’s presence in Brazil. Both Fernandez and Caldas were previously with Capital Dynamics.

Slideshow: Carlyle’s Rubenstein, T.H. Lee’s Sperling, AlpInvest’s Doeksen, Others Speak at Buyouts New York

Thomson Reuters’ Buyouts New York conference kicked off today with a star-studded list of speakers. Among the big names on today’s bill were David Rubenstein (pictured), co-founder of The Carlyle Group, Volkert Doeksen, CEO of AlpInvest, Scott Sperling, co-president of Thomas H. Lee Partners, and Erik Hirsch, CIO of Hamilton Lane. Take a peek into […]

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LOC-AID Adds $13M Series C

Boca Raton, Fla.-based LOC-AID has raised $13 million in Series C financing. H.I.G. Ventures led the round, which included participation from Intersouth Partners, and the Florida Growth Fund, which is managed by Hamilton Lane. The new money will help LOC-AID expand its technology, which includes location-based services for fraud prevention, proximity marketing, asset management and check-in services.

Washington State Changes PE Consultant

Big news from the LP world, as we’ve learned that the $74 billion Washington State Investment Board has chosen Hamilton Lane as its new private equity consultant.

The pension system has around $13.5 billion in private equity assets, and had spent the past five years using Capital Dynamics (which, in turn, had taken over for Pacific Corporate Group).

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Erik Hirsch: “GPs Are Essentially Service Providers”

He predicted he’d be misquoted and taken out of context, so I will try not to do that here. Very simply, Eric Hirsch, Chief Investment Officer of Hamilton Lane, believes that limited partners should not view private equity pros as partners. GPs, he said, provide a service to LPs, and should act accordingly.

Speaking in a keynote interview at Buyouts South in Boca Raton, Hirsch noted his comment might get him in trouble with some GPs, but nevertheless made the argument against the idea of a “parternship.” That phrase twists the real meaning of an LP-GP relationship, he said. “The word “partner” makes it seem like an LP needs to support a GP even when things go awry, because they are partners,” he said. When in reality, investors have hired general partners to generate superior returns over a 10-year period and the relationship should be viewed as such.

Liveblogging PEA: Erik R. Hirsch of Hamilton Lane

I’m at the PEA Conference at the Grand Hyatt in New York. The theme is “Where do we go from here?” which seems ironic, since that could have easily been the theme for the PEA Outlook conference in September. If you remember, that took place just days after the Lehman, Merrill and AIG disasters. It’s probably safe to say little has improved since then.

I’ll be attending various panels and liveblogging two events: At 9:40, a one-on-one Q&A with Erik R. Hirsch, the Chief Investment Officer of Hamilton Lane. You can find that here. At 5:05, I’ll liveblog a self-proclaimed “not-so-shy” panel called “Opinions, Opinions, Opinions.” Isn’t that all these conferences are in the first place? You can find that here.. I’ll post updates in between on topics like Cleantech, financial services, portfolio company clean-up, and of course, Pontifications On The Future. I may also be commenting on the events at the official peHUB Twitter.

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