Private equity asset management company Hamilton Lane announced the success of its Hamilton Lane Secondary Fund III with USD 900 million in capital commitments. The initial target for the third secondary private equity fund was only USD 650 million. Hamilton Lane launched Secondary Fund III last year. Its pool of worldwide investors included pension funds, pension plans, family offices, high net-worth individuals, sovereign wealth funds and other financial institutions.
The third secondary fund would continue to look for opportunities in the secondary market. The fund would use Hamilton Lane's approach of making investments in high quality fund managers and portfolio purchases.
Hamilton Lane's Chief Executive Officer Mario Giannini thanked the investors who had supported their third secondary fund. "The strong demand for the fund demonstrates continued interest in the secondaries market by institutional investors and is a testament to Hamilton Lane's successful investment performance in this sector to date," he said in a press release.
Hamilton Lane Secondary Fund III had already committed to investing about USD 200 million in eight deals when the funding round closed.
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