Private equity asset management firm Hamilton Lane has held the final closing of its third secondary private equity fund, Hamilton Lane Secondary Fund III.
Originally targeting USD650m, the fund received substantial interest from the institutional investor community and was oversubscribed, but opted to close at its original hard cap of USD900m.
Launched in 2012, the fund consists of investors from around the globe, including public and corporate pension funds, US union pension plans, family offices and high-net-worth investors, sovereign wealth funds, endowments and foundations, insurance companies and other financial institutions.
"We are pleased to announce the close of Hamilton Lane’s third secondary fund, thanks to support from a diverse base of leading investors," says Mario Giannini (pictured), chief executive officer of Hamilton Lane. "The strong demand for the fund demonstrates continued interest in the secondaries market by institutional investors and is a testament to Hamilton Lane’s successful investment performance in this sector to date."
Hamilton Lane has been actively investing in the secondary market since 2000. The fund will be a continuation of Hamilton Lane’s differentiated secondaries approach that targets high quality fund managers and small fund or portfolio purchases at attractive prices.
"We continue to see quality deal flow driven by our strong general partner relationships and global footprint," says Tom Kerr, managing director and head of Hamilton Lane’s secondary team.
At the time of closing, the fund had already committed nearly USD200m through eight transactions, which are diversified across vintage year, strategy and maturity.
