Business
Hamilton Lane Launches New Fund to Expand Access to Private Markets for Individual Investors in the U.S.
New ‘40 Act vehicle provides qualified U.S. investors access to a diversified, multi-strategy, core private markets portfolioOpen to qualified U.S. investors,
About this update from Hamilton Lane Incorporated
[{"type":"text","content":"New ‘40 Act vehicle provides qualified U.S. investors access to a diversified, multi-strategy, core private markets portfolioOpen to qualified U.S. investors, the vehicle is the latest in the firm’s evergreen product suite, following a global offering to investors outside of the U.S., including Australia & New Zealand, Canada, and parts of Europe, Asia, Latin America and the Middle East BALA CYNWYD, Pa., Jan. 07, 2021 (GLOBE NEWSWIRE) -- Leading private markets investment management firm Hamilton Lane (NASDAQ: HLNE) today announced the launch of the Hamilton Lane Private Assets Fund (“PAF” or the “Fund”), a closed-end investment vehicle registered under the Securities Act of 1933 and the Investment Company Act of 1940 (“’40 Act”). This registration makes the Fund more widely available to qualified U.S. clients, including certain high-net-worth (“HNW”) investors and their wealth advisors, who now have access to a diversified, institutional-quality portfolio of private equity and private credit assets through a single investment. The Fund is a multi-strategy vehicle that seeks to generate capital appreciation over the medium and long term. As an evergreen product, PAF allows for monthly subscriptions and intends to offer a quarterly tender to provide limited liquidity. The Fund will aim to invest in a mix of secondaries, direct investments and co-investments in credit and equity across geographies, industries, vintages and general partners. Compared to traditional private market offerings, the Fund features a lower minimum investment of $50,000 and simple 1099 tax reporting, targets fee-efficient investments, and provides the potential for attractive risk-adjusted returns and limited administrative burden. Drew Schardt, PAF Investment Committee Member, said: “This is a significant milestone in support of our goal to broaden accessibility to the attractive return potential as well as the wealth creation potential the private markets can offer. We are thrilled to announce the launch of the Private Assets Fund, which is a client-friendly option for family offices and HNW investors seeking diversified exposure to this asset class. In addition to greater flexibility compared to traditional private market vehicles, our unique fund structure allows for limited liquidity1 in a historically illiquid asset class and direct access to private...