Hamilton Lane Closes its Largest Fund To-Date on $5.6 Billion for Secondary Fund VI, Exceeding Target

Rhea-AI Summary

Hamilton Lane has successfully closed its largest fund to date, raising $5.6 billion for Secondary Fund VI, surpassing its $5 billion target. This new fund exceeds the previous Secondary Fund V by over 40%, which closed at $3.9 billion in 2021. The firm's impressive fundraising efforts reflect strong support from a diverse group of investors, including corporate and public pension funds, sovereign wealth funds, and other financial institutions from over 30 countries. The firm's secondary platform now represents approximately $20.9 billion in assets under management as of March 31, 2024.

Positive

• Hamilton Lane raised $5.6 billion, surpassing the $5 billion target.
• The fund exceeded the previous Secondary Fund V by over 40%.
• Strong support from diverse investors in over 30 countries.
• Secondary platform now represents $20.9 billion in AUM as of March 31, 2024.
• Demonstrates a strong market-leading position within the asset class.

Negative

• Potential risks associated with managing a significantly larger fund.
• Increased competition in the secondary market could impact returns.
• Market conditions driving liquidity appetite may fluctuate.

News Market Reaction

+0.84%

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+0.84% News Effect

On the day this news was published, HLNE gained 0.84%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

• Firm's largest ever fundraise closes on $5.6 billion in commitments from a diverse international investor base
• Fund closing surpasses predecessor by more than 40%

CONSHOHOCKEN, Pa., June 18, 2024 /PRNewswire/ -- Leading private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced the final closing of Hamilton Lane Secondary Fund VI ("the Fund" or "Fund VI") with $5.6 billion in commitments, marking the largest fundraise in the firm's history.

Fund VI materially exceeded its original $5 billion target, seeing strong support from a diverse group of new and existing investors, including corporate and public pension funds, Taft-Hartley plans, sovereign wealth funds, endowments, foundations, private wealth platforms and other financial institutions from over 30 countries around the world.

Tom Kerr, Co-Head of Investments and Global Head of Secondary Investments, commented: "The success of this fundraise represents a significant milestone for Hamilton Lane and is a direct result of our market-leading position within the asset class. The circumstances driving appetite for liquidity in the market continue to grow, and we are excited to sit in a compelling position with what we believe is one of the most experienced and cohesive secondary platforms. Fund VI is a continuation of our longstanding secondary franchise, and we continue our mission of seeking to find differentiated secondary opportunities at attractive inflection points where we have familiarity and a competitive angle."

Ryan Cooney, Managing Director on the Secondary Investment Team, commented: "We are incredibly proud to announce the outstanding success of the fundraise for Secondary Fund VI, Hamilton Lane's largest fund to-date, and wish to express our gratitude for the trust and support from existing and new investors from around the globe. Our high-caliber investor base recognizes us for our differentiated deal flow, large network of touch points and an analytical investment approach that is backed by one of the industry's largest databases. Fund VI is off to a tremendous start and we are further encouraged by the robust pipeline of opportunities."

Hamilton Lane has been active in the secondary space for more than 24 years, aiming to provide investors with significant capital appreciation by delivering attractive risk-adjusted returns. The Fund's predecessor, Secondary Fund V, closed on $3.9 billion in commitments in 2021. Today, the firm's secondaries platform represents approximately $20.9 billion in assets under management* as of March 31, 2024.

*Total secondary AUM includes discretionary and non-discretionary active commitments.

About Hamilton Lane

Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 700 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has over $920 billion in assets under management and supervision, composed of more than $124 billion in discretionary assets and approximately $796 billion in non-discretionary assets, as of March 31, 2024. 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 our website or follow Hamilton Lane on LinkedIn.

View original content:https://www.prnewswire.com/news-releases/hamilton-lane-closes-its-largest-fund-to-date-on-5-6-billion-for-secondary-fund-vi-exceeding-target-302174872.html

SOURCE Hamilton Lane

FAQ

What is the latest fund closed by Hamilton Lane?

Hamilton Lane closed its largest fund to date, Secondary Fund VI, with $5.6 billion in commitments.

How much did Hamilton Lane raise for Secondary Fund VI?

Hamilton Lane raised $5.6 billion for Secondary Fund VI.

When did Hamilton Lane announce the closing of Secondary Fund VI?

Hamilton Lane announced the closing of Secondary Fund VI on June 18, 2024.

How does Secondary Fund VI compare to its predecessor?

Secondary Fund VI closed with $5.6 billion, over 40% more than the $3.9 billion raised by Secondary Fund V.

What is the asset under management for Hamilton Lane's secondary platform?

Hamilton Lane's secondary platform represents approximately $20.9 billion in assets under management as of March 31, 2024.