Hamilton Lane announced its CEO succession plan as Mario Giannini prepares to step down after 22 years at the helm.
Effective Jan. 1, 2024, Erik Hirsch and Juan Delgado-Moreira will become co-CEOs at the firm, which boasts $818 billion in assets under management and supervision. Giannini will join Hartley Rogers as executive co-chairman. Rogers has been chairman of the board since 2005, officials said.
“With Erik and Juan stepping into the roles of co-CEOs, I am both confident and excited about the future of Hamilton Lane, knowing we’ve identified the right leaders to build upon the strength of our current foundation and guide us through the next evolution of our business,” said Giannini. “Personally, I look forward to continuing to play an active role, spending time and deepening relationships with clients, opining on the markets and helping set the strategic direction of the firm.”
Both Hirsch and Delgado-Moreira are long-time executives at Hamilton Lane. Delgado-Moreira will be appointed to the board of directors and will primarily focus on leading Hamilton Lane’s global sales efforts and client service organization, while Hirsch will lead the firm’s strategic direction and manage its operations. The two will jointly lead the firm’s global investment team.
Hirsch joined Hamilton Lane back in 1999 and is based in Conshohocken, Penn. He leads the firm’s strategic and technology initiatives and serves on the investment committee and is a member of the board of directors. He had been chief investment officer at the firm from 2003 to 2016.
Delgado-Moreira joined in 2005 and is based in Hong Kong, where he serves as vice chair. He is also on the investment committee and oversees international investment activities and client relationships. His focus is on expanding Hamilton Lane’s presence across the globe.
Hamilton Lane’s business has been expanding. Earlier this year, Hamilton Lane held the final close of its fifth co-investment, direct equity fund with roughly $2.1 billion in committed capital, making it the largest dedicated vehicle for the firm. Hamilton Lane Equity Opportunities Fund V is focused on offering diversified exposure to unique and differentiated deals through an efficient fee structure. Hamilton Lane’s direct equity platform since mid-2020 has raised roughly $3.7 billion.
On the credit side, Alternatives Watch caught up with Hamilton Lane’s Nayef Perry on the unfolding opportunity within the market that he and his team have been active in this year.
“This new structure reinforces the foundation of our firm as we continue to expand our leadership position in global private markets. I am incredibly grateful to Mario for his leadership through decades of tremendous transformation and look forward to continuing our active roles in advancing the best interests of Hamilton Lane’s clients, employees, shareholders and business partners,” Rogers said. “Today’s announcement reflects a thoughtfully considered transition plan – one that elevates two long-standing partners to well-deserved roles. Erik and Juan have been instrumental in shaping Hamilton Lane into the outstanding firm it is today through their respective contributions to our investment success, product innovation and global reach.”