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Ropes & Gray Advises Hamilton Lane on Strategic Opportunities Fund V


Ropes & Gray advised Hamilton Lane on Hamilton Lane Strategic Opportunities Fund V which has attracted more than USD760 million in commitments from a wide range of global LPs including repeat as well as new investors from Asia, the Middle East, Europe and North and South America. 

The Fund announced its final close on 30 July. 

The Series is focused on making credit-oriented investments with consistent cash yield, shorter duration and attractive risk-adjusted returns. Consistent with previous vehicles, the Fund is comprised of a diverse set of institutions, including Taft-Hartley pension funds, insurance companies, high-net-worth individuals and endowments and foundations.

Drew Schardt, Managing Director and Global Head of Private Credit at Hamilton Lane, says: “This latest closing is a further validation of our strategy’s ability to consistently access unique private credit-oriented opportunities on a global level. Having been active in the private credit space for more than two decades, our firm’s experience and strong industry relationships continue to drive robust deal volume and enable us to remain highly selective.” 

“As an asset class, private credit continues to evolve. Growing LP interest in the space has generally been driven by the yield and return characteristics, which are also differentiated in the context of a broader private markets portfolio,” he says.

Jackie Rantanen, Managing Director and Head of Product Management at Hamilton Lane, says: “This marks our fifth successful fundraise for the Strategic Opportunities Series. Thanks to the support of our strong global client base, in total this Series now includes more than 180 unique investors. We view this as a testament to the underlying investment strategy as well as the appealing structure of the Series, which aims to deliver a high level of flexibility and optionality while enabling LPs to leverage Hamilton Lane’s extensive global platform and opportunity set.”
 
Hamilton Lane has long been an active investor in targeted strategies, including credit-oriented direct investments and co-investments. While this vehicle represents the fifth of its kind, it is an extension of Hamilton Lane’s broader credit platform, which the firm has been building for over 20 years and which represents more than USD34 billion in assets under management and supervision as of 31 March, 2019.
 
The Ropes & Gray team advising Hamilton Lane was led by asset management partner Peter Laybourn and included tax & benefits partners Bill Jewett and Jay Milkes, tax & benefits counsel Seth Piken, asset management associates Justin Kliger, Tim Morgan, Ryan Marcus and Youna Kim, and tax & benefits associate Denise Sohn.
 
Ropes & Gray also advised Hamilton Lane on Strategic Opportunities Fund IV, and on Hamilton Lane Strategic Opportunities Fund 2017, also led by asset management partner Peter Laybourn.

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