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Laxman Pai, Opalesque Asia: Private markets fund manager Hamilton Lane announced that it closed a direct equity fund with nearly $2.1 billion in total commitments, making it the fifth dedicated vehicle of its kind and the largest to date.
According to a press release from the Pennsylvania-based asset management firm the sum exceeds both the firm's $2 billion fundraising target and the $1.7 billion it raised for a predecessor vehicle that closed in 2019.
The Hamilton Lane Equity Opportunities Fund V has received commitments from a wide range of global investors including public pensions, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, high-net-worth individuals, and other financial institutions, the release said.
Fund V's strategy is focused on providing investors with diversified exposure to unique and differentiated deals through an efficient fee structure. Including the Fund, Hamilton Lane's Direct Equity platform has raised approximately $3.7 billion since the outset of the fundraising in mid-2020.
Demetrius Sidberry, Managing Director of the Direct Equity Investment Team, said: "Our ability to successfully raise the Fund demonstrates both the power of our scale and platform and our clients' conviction in our ability to execute. Our 26-year track record of strong performance and transactional expertise has helped to make us a trusted partner to leading GPs, and our platform has provided unique access for LPs ...................... To view our full article Click here
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