Hamilton Lane files for IPO

The number of shares and price range are still to be confirmed by the firm which has about $274bn of assets under advisement and $40bn AUM.

Hamilton Lane plans to raise up to $200 million in an initial public offering on NASDAQ.

The number of shares to be offered and the price range are still undetermined, while the firm intends to use some of the IPO proceeds to purchase membership units in Hamilton Lane Advisors from its existing owners, according to a filing with the SEC.

A spokeswoman for Hamilton Lane declined to comment, citing legal restrictions.

The firm has raised $573 million out of a $1.25 billion target for Hamilton Lane Secondary Fund IV, which launched in July 2015, according to filings with the SEC.

Hamilton Lane offers customised separate accounts, specialised funds, advisory services, distribution management services, and reporting monitoring data and analytics services. It had about $57 million in net income on about $180 million in revenue in the year ended 31 March, according to the filing.

Hamilton Lane has about $40 billion of assets under management and about $274 billion of assets under advisement. It has 280 employees, including more than 90 investment professionals operating 11 offices.

Its client and investor base included more than 350 institutions and intermediaries as of 30 September.

Hamilton Lane is currently owned by an investor group, members of management and current and former employees. Mario Giannini has been chief executive since 2001.

JPMorgan and Morgan Stanley will act as join book-running managers for the offering.