Business
Hamilton Lane Closes on National and New York-Focused Small Business Credit Funds, Totaling $290M of Capital
Represents Continued Expansion of SBIC Offerings to Provide Funding to Companies and Regions Across the United StatesCONSHOHOCKEN, Pa., Oct. 16, 2023
About this update from Hamilton Lane Incorporated
[{"type":"text","content":"Represents Continued Expansion of SBIC Offerings to Provide Funding to Companies and Regions Across the United StatesCONSHOHOCKEN, Pa., Oct. 16, 2023 /PRNewswire/ -- Leading private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced the final closing of Hamilton Lane National Small Business Credit Fund, L.P. and Hamilton Lane New York SBIC Fund II, L.P. (or \"the Funds\"). Together, the Funds total $290 million in size,* with commitments from leading institutional investors across the United States.\n\nHamilton Lane launched New York SBIC Fund I in 2015, with the goal of identifying opportunities to strategically deploy capital to help drive development and advance small businesses in New York State. Building on the success of the firm's first SBIC offering, the Funds were launched in 2022. These offerings seek to follow a consistent strategy and structure, focusing on providing loans to lower middle market businesses with EBITDA ranging from $3 to $25 million. \nHamilton Lane is hopeful that this broadened investment mandate will continue to see similarly attractive opportunities across expanded regions. The Funds are part of the firm's existing credit platform, which has more than a 22-year long history of investing in direct credit and boasts a robust network of sponsor relationships. \nDave Helgerson, Managing Director, Direct Equity Investments at Hamilton Lane, said: \"Successfully raising two new SBIC offerings demonstrates the strength of our platform and our clients' conviction in our ability to execute small business transactions. With the support of our partners, we plan to strategically deploy capital from the Funds and hope to bring meaningful growth and impact to small businesses in New York State and across the country.\"\nTrevor Messerly, Managing Director, Direct Credit Investments at Hamilton Lane, commented: \"The Funds mark another significant milestone in the development of our SBIC offerings and build on the success of Hamilton Lane's broader private credit platform. We seek to leverage our size and scale to source investment opportunities from a diversified pool of established equity and credit managers, intermediaries and independent sponsors to support small businesses. Amidst a tighter lending environment for businesses of this size, our SBIC platform is uniquely positioned ...