Hamilton Lane collects $229m for latest secondaries fund

The firm launched its biggest secondaries fund to date in August last year seeking $1.25bn.

Hamilton Lane has raised about a fifth of its $1.25 billion target for its latest dedicated secondaries fund, its largest to date.

The Philadelphia-based alternative investment manager has collected about $229 million for Hamilton Lane Secondary Fund IV from 11 investors, according to a 7 January filing with the Securities and Exchange Commission.

Hamilton Lane Secondary Fund IV was registered last August, according to a UK regulatory filing.

Investors in the fund include Fort Lauderdale General Employees’ Retirement System, which approved a $10 million commitment to the fund, as Secondaries Investor previously reported.

Hamilton Lane’s previous secondaries fund, Hamilton Lane Secondary Opportunity Fund III, launched in 2012 and surpassed its $650 million target, closing on its $900 million hard-cap in September 2013, according to PEI’s Research and Analytics division.

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

Hamilton Lane is also seeking $400 million for Hamilton Lane Private Equity Fund IX, its latest fund of funds, which can invest up to 20 percent in secondaries.

The firm declined to comment.

Founded in 1991, Hamilton Lane has over 250 staff in offices across the US, Europe, Asia, Latin America and the Middle East. The firm had more than $239 billion in assets under management and supervision as of 30 September, according to its website.