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Hamilton Lane third co-investment fund closes above target

Private equity firm Hamilton Lane has held the final closing of Hamilton Lane Co-Investment Fund III. The Fund received significant interest from the global institutional investor community and was oversubscribed relative to its target fundraising amount, closing at its hard cap of USD1.5 billion. 

This pool of capital will rank Hamilton Lane among the largest managers of co-investment capital in the world.

The Fund consists of new and existing Hamilton Lane investors from around the globe, including public pension funds, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, high-net-worth individuals and other financial institutions. The Fund's strategy is to provide direct equity capital into buyout and growth transactions, alongside some of the leading general partners. It provides unique diversification across enterprise value, geography, and industry.

"With a dedicated co-investment team of over 20 professionals, experience in the space dating back to 1996 and over 200 completed transactions to date, investors were able to see Hamilton Lane as a uniquely experienced and focused option for obtaining co-investment exposure in their portfolios," says Erik Hirsch, Chief Investment Officer of Hamilton Lane. "We are pleased to see our investors realise the benefits of our global market presence and deep relationships among leading general partners.  We are grateful for their support."

Hamilton Lane has been an active co-investor for nearly 20 years. The Fund is a continuation of the success of Hamilton Lane's previous co-investment vehicle, Hamilton Lane Co-Investment Fund II ("Fund II"), a 2008 vintage year fund with USD1.2 billion in capital. According to Preqin, Fund II is among the top performing co-investment funds with a 1.9x net multiple of investment capital (MOIC) and 22 percent net internal rate of return (IRR). 

"Our extensive network among general partners, and our ability to be a trusted partner to them, has resulted in a franchise that is well-positioned to continue as a true leader in the co-investment field," says Brian Gildea, Managing Director of the Global Co-Investment team at Hamilton Lane.  

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