Originally targeting $1.25 billion, the Fund received strong demand from the institutional investor community and exceeded its target to close on $1.9 billion, the firm's largest secondary fund to-date. The Fund consists of a diverse base of more than 110 investors from around the globe, including Taft-Hartley pension plans, corporate and public pensions, sovereign wealth funds, family offices, endowments, foundations and other financial institutions.
"As the secondary market evolves, LPs are increasingly looking for differentiation among secondary firms. The Hamilton Lane approach continues to stand out, validated by our successful fundraise," said Tom Kerr, Managing Director and Global Head of Secondaries. "We believe our platform offers distinct competitive advantages in the secondary market, providing access to relationships, information and differentiated deal flow -- all of which allows us to invest selectively as an informed buyer."
Hamilton Lane has been investing in the secondary market for more than 15 years, and Fund IV represents the successful expansion of the firm's secondary program and strong global investment team. Fund IV aims to provide investors with a balanced portfolio by diversifying across proprietarily-sourced single funds, subset portfolios and complex structured/direct investments.
"We are grateful for the strong interest and support from a diverse group of sophisticated global limited partners – both new and existing investors – that led to Fund IV closing oversubscribed and above target," said Ryan Cooney, Product Manager of Hamilton Lane's secondary platform. "What resonated with our investor base and led to the strong interest in our largest-ever fundraise was our ability to find interesting opportunities with quality GPs and assets, and in turn to deploy that capital, reinvest back into our team and platform and strengthen our position in the market."
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 25 years, the firm currently employs more than 290 professionals operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With more than $332 billion in total assets under management and supervision as of December 31, 2016, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com, or follow Hamilton Lane on Twitter: @hamilton_lane.
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SOURCE Hamilton Lane