Hamilton Lane closed its largest private credit offering ever with $953 million from a diverse set of institutions from across North America, Asia, EMEA and Latin America.
The Hamilton Lane Strategic Opportunities Fund VII will make direct credit investments, selectively layering in other credit-like investments to create a portfolio biased toward shorter-duration exposures, seeking downside protection and current cash-pay, officials said.
“This is a unique moment for private credit as an asset class,” said Nayef Perry, global co-head of Direct Credit, in a statement. “Volatility concerns and rising interest rates are attracting investors to private credit due to its floating rate nature and historical consistency of performance through up and down markets.”
Part of Hamilton Lane’s Strategic Opportunities offering, an annual fund series that aims to deliver attractive, risk-adjusted returns to investors, the fund itself is structured to demonstrate the stability private credit. Perry describes the landscape as one where private lenders, who are well-equipped to navigate complexity and provide certainty of capital to borrowers will see opportunities.
Prior to joining Hamilton Lane in 2013, Perry was a vice president at GE Capital where he focused on middle-market sponsor-backed leveraged finance transactions.
“Benefits like cash yield, attractive risk-adjusted returns and the ability to carefully navigate volatility are hallmarks of our strategy, and we’re grateful to our limited partners for their continued support,” added Emily Nomeir, managing director, Direct Credit Investments.
Hamilton Lane currently has more than $832 billion in assets under management and supervision, composed of $108 billion in discretionary assets and more than $724 billion in advisory assets, as of June 30, 2022.