Hamilton Lane has held the final closing of Hamilton Lane Strategic Opportunities Fund 2017 with approximately USD435 million in commitments from a wide range of global investors, far exceeding the initial target of USD250 million.
Structured as an annual series with a single-year investment period, the Fund is focused on making credit-oriented investments with consistent cash yield. The 2017 Fund is comprised of a diverse set of institutions, including Taft-Hartley pension funds, insurance companies, endowments/foundations and high net worth individuals, including a number of existing as well as new investors from Asia, the Middle East, Europe and North and South America.
“The opportunity in the private credit market is meaningful and we expect it to continue to evolve and grow,” says Drew Schardt, Managing Director and Global Head of the Private Credit Team at Hamilton Lane. “Hamilton Lane’s deep experience in this space coupled with our strong private market relationships continues to drive robust deal volume, enabling us to remain highly selective. We believe the Strategic Opportunities series provides our clients with a flexible credit solution and unique access to these high-quality private market transactions.”
“We’re proud to have closed our third Strategic Opportunities Fund after a successful fundraise, and welcome a great mix of investors onto our growing platform,” says Emily Nomeir, Principal and Co-Head of the Product Management Group at Hamilton Lane.
“LPs are being thoughtful in their approach to credit, and the structure of this Fund aims to deliver a high level of flexibility and optionality, while still enabling them to leverage the Hamilton Lane platform. In our recent Private Markets survey, nearly two-thirds of LPs says they planned to increase allocations to private credit, and we saw that investor appetite reflected in the strong demand for the 2017 Fund.”
Hamilton Lane has long been an active investor in targeted strategies, including credit-oriented direct investments and co-investments. While the Fund represents the third dedicated vehicle of its kind, it is an extension of Hamilton Lane’s broader credit platform, which the firm has been building for nearly 20 years and represents over USD20 billion in assets under management and supervision as of December 31, 2016.
