Hamilton Lane Passes Half-Way Mark On Latest FoFs

Firm: Hamilton Lane

Fund: Hamilton Lane Private Equity Fund VIII LP

Target: $400 Million

Amount Raised So Far: $215 Million

Hamilton Lane, one of the nation’s largest private equity advisory firms, with about $24 billion in assets under management, has so far raised $215 million of its $400 million target for one of its news funds of funds, Hamilton Lane Private Equity Fund VIII LP, according to two recent government filings.

About $150 million of the new fund was raised in the United States, while $65 million was raised from overseas investors as part of a related vehicle that is registered in the Cayman Islands.

According to a presentation with the Fresno County Employees’ Retirement Association, the firm raised $262 million for its vintage 2010 Fund VII and $494 million for its 2007 vintage Fund VI. It also raised $600 million for its latest secondary fund and $1.2 billion for its latest co-investment fund.

According to the presentation, Fund VI was returning a net IRR of 7 percent and a 1.2x return multiple. Fresno County had $70 million committed to Fund VI. Some of Fund VI’s holdings include $20 million in Platinum Equity Capital Partners II LP, $15 million in KPS Special Situations Fund III LP, $15 million with Kohlberg Investors VI LP, and $15 million American Securities Opportunities Fund LP.

Earlier this year, the Nevada Permanent School Fund chose Hamilton Lane to manage its $50 million Silver State Opportunity Fund.  The firm manages many such in-state private equity programs.

Hamilton Lane is based in Bala Cynwyd, Pa., and has 170 employees. The firm is among the largest private equity advisers in the world, advising public pensions, foundations and other large investors on their private equity assets, which together total $143 billion. It has offices in several U.S. cities, as well as London, Rio de Janeiro, Hong Kong, Tel Aviv, Singapore and Tokyo.