Hamilton Lane, a private markets investment management firm based in Bala Cynwyd, Pa., has launched a new diversified fund for high-net-worth investors in the U.S., the firm announced today.
The Hamilton Lane Private Assets Fund is a closed-end investment vehicle designed to provide high-net-worth qualified investors with a diversified, institutional-quality portfolio of private equity and private credit assets through a single investment, Hamilton Lane said in a press release.
The fund is available to U.S. investors and is the latest in the firm’s product suite, following a global offering to investors outside of the U.S., including Australia, New Zealand, Canada and parts of Europe, Asia, Latin America and the Middle East, Hamilton Lane said.
The fund is a multi-strategy vehicle designed to generate capital appreciation over the medium and long term. As an evergreen product, it allows for monthly subscriptions and intends to offer a quarterly tender to provide limited liquidity, the firm said. Investments will be made in a mix of secondaries, direct investments and co-investments in credit and equity across geographies, industries, vintages and general partners.
Hamilton Lane said that compared to traditional private market offerings, the fund features a minimum investment of $50,000 and simple 1099 tax reporting, targets fee-efficient investments, and provides the potential for attractive risk-adjusted returns and limited administrative burden.
“This is a significant milestone in support of our goal to broaden accessibility to the attractive return potential as well as the wealth creation potential the private markets can offer,” Drew Schardt, fund investment committee member, said in a statement. This is “a client-friendly option for family offices and high-net-worth investors seeking diversified exposure to this asset class.”
The fund includes “limited liquidity in a historically illiquid asset class and direct access to private companies through a single investment into a fully-built portfolio,” he said.
Hamilton Lane seeded the fund with $30 million from the firm’s balance sheet, alongside an additional $100 million in capital from an anchor investor, the firm said.
