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Hamilton Lane launches first SBIC Fund

Private markets asset management firm Hamilton Lane has successfully closed on USD200 million in private capital for its first Small Business Investment Company (SBIC) Fund, with significant support from anchor investor, the New York State Common Retirement Fund (NYSCRF).

A number of other institutional investors participated, including TD Bank, Bank of NY Mellon, HSBC Bank, Deutsche Bank and First Niagara Bank.
Through the SBIC Program, the US Small Business Administration (SBA) provides funding to qualified investment management firms with expertise in certain sectors or industries. The New York Credit SBIC Fund will provide USD200 million in debt and mezzanine financing to generate attractive investment returns while supporting small business growth throughout the state of New York.
"We are excited to be part of the SBA program and to have the support of such reputable institutional investors," says Erik Hirsch, CIO of Hamilton Lane. "We continue to be committed to bringing our global platform and world-class resources to bear in order to develop leading investment solutions and help our clients access unique private markets investment opportunities."
The SBIC Fund is the latest addition to Hamilton Lane's existing credit platform, which the firm has been building out for more than 17 years and which now boasts a robust network of GPs and entrepreneurs, giving Hamilton Lane access to a significant amount of direct equity and credit deal flow. The Fund will start investing in small businesses across a variety of industry sectors in accordance with SBIC investment guidelines, targeting companies that are based in or have material operations in the state of New York.

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