News & Analysis

Dallas ERF re-ups with Hamilton Lane

The $3bn pension has backed at least four of the alternative investment manager's previous vehicles.

-

Employees’ Retirement Fund of Dallas has backed Hamilton Lane‘s latest secondaries fund, which is seeking $1.25 billion.

The Texan pension committed $30 million to Hamilton Lane Secondary Fund IV, according to minutes from its 8 November board of trustees meeting.

Dallas ERF has an on-target 5 percent current allocation to private equity and has invested in at least four of the Philadelphia-based firm’s previous vehicles, including its two preceding secondaries funds.

Hamilton Lane Secondary Fund IV launched in July 2015 and held a first close on $229 million last January, according to PEI data. Public Employee Retirement System of Idaho and City of Fort Lauderdale General Employees’ Retirement System have also backed the vehicle with $50 million and $10 million commitments, respectively.

The firm’s secondaries strategy involves targeting high-quality fund managers and small fund or portfolio purchases at attractive prices, according to its website.

Founded in 1991, Hamilton Lane had $40 billion in discretionary assets under management as of 30 September. The firm employs more than 285 staff in 12 global offices.