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Laxman Pai, Opalesque Asia: The alternative investment management firm Hamilton Lane closed Hamilton Lane Secondary Fund V at $3.9 billion, exceeding its $3 billion fundraising target and marking its largest fundraise to-date.
The closing of the global and diversified secondary private equity fund comes at a time when investor demand for second-hand stakes in private equity assets has been growing, said a press release from the private markets investment management firm.
The fund invests in single funds, subset portfolios, and complex structured/direct investments.
The Fund V received strong demand from institutional investors, including pension funds, Taft-Hartley plans, sovereign wealth funds, endowments, foundations, family offices, qualified high-net-worth individuals, and other financial institutions from around the Americas, EMEA, Asia, and Israel, said the Philadelphia region's largest private equity firm and fifth-largest money manager.
"Meaningful support from existing investors in the program was complemented by a significant number of new investors globally," it said.
Investors include the $706 million Fort Lauderdale (Fla.) General Employees Retirement System and $240 million Westfield (Mass.) Contributory Retirement System.
Investors that have disclosed commitments to the new fund also include the Public Employee Retirement System of Idaho, the Evangelical Lutheran Church in America Foundation, the Massachusetts Water Resources Authorit...................... To view our full article Click here
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