Hamilton Lane reported annualized gains of 17.48% for its Private Assets Fund (PAF), which reached $1 billion in assets in the three years since its inception on Aug. 31.
With $117 billion in assets under management, Nasdaq-listed Hamilton Lane has reported 8% asset growth for the year ending June 30, with evergreen funds such as PAF contributing to the gains.
PAF includes limited liquidity in the form of quarterly limited repurchase offers and as a 40 Act registered continues offered closed-end vehicle is at the core of the firm’s Evergreen Platform, which totals $4.6 billion in AUM. The strategy is a mix of direct equity, secondaries and private credit investments and aims to deliver medium and long-term capital appreciation, officials said. Since inception, Hamilton Lane has completed 82 deals alongside 72 GPs in the fund through Aug. 31.
The fund’s management is led by two long-time Hamilton Lane executives: Jackie Rantanen, head of investor relations, and Stephan Brennan, head of private wealth solutions.
“For PAF to reach $1 billion in AUM just as we mark three years since its launch underscores our commitment to expanding investor access and illustrates the effectiveness of the Fund’s multi-manager, multi-strategy approach,” said Rantanen. “We are proud of the growth and performance we’ve seen across the Evergreen Platform and are excited to continue building on that success.”
Also on the Evergreen Platform are the Global Private Assets Fund and the Senior Credit Opportunities Fund. The Senior Credit Opportunities Fund (SCOPE) launched in 2022 and manages $305.5 million on behalf of retail investors in Canada, Europe, Latin America and Southeast Asia. The Global Private Assets (GPA) Fund was established in 2019 to serve high-net-worth and wholesale investors in Australia and New Zealand, Asia, Canada, Europe, Latin America and Middle East and now totals $3.2 billion.
Rantanen added that a major trend Hamilton Lane is paying attention to is creating and developing access points for investors to deploy capital to the private markets. “As this asset class becomes more and more accessible within the marketplace, it’s more important than ever for investors to be educated on how to access alternatives,” she said.
Brennan said the focus is on creating high-quality, investor-driven products as well as educating and providing advisors, and in turn their clients, with the tools, resources and information they need to confidently and knowledgeably invest in the private markets.
“It’s important to us that, as our Private Wealth Platform grows, we can continue to guide advisors and their clients along that journey with us,” he said.