Hamilton Lane closes third secondaries fund at $900m hard cap

Launched last year, the LP base comprises a broad range of 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.

The new fund has already committed about $200 million through eight transactions.

"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," said Mario Giannini, Hamilton Lane's CEO, in a statement.

Hamilton Lane, which has more than $160 billion in assets under management, has been investing in the secondary market since 2000. The fund will continue the firm's existing secondaries approach of targeting high-quality fund managers and small fund or portfolio purchases at competitive prices.

Several global secondaries fund have been raised since the beginning of the year, most recently HarbourVest Partners, which closed Dover Street VIII at $3.6 billion - exceeding the $3 billion target - in July. Others include vehicles managed by Adams Street Partners, Stepstone, LGT Capital Partners and Deutsche Bank.

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• Topics
• Fundraising
• Secondaries
• Hamilton Lane
• Secondaries
• Fundraising