Hamilton Lane Advisors LLC is looking into buying private equity firm Paul Capital. The price of the deal, however, remains to be undisclosed.
In an exclusive report by PeHub, it said that it also remained unclear if Hamilton Lane would only acquire the management company or take over Paul Capital's funds as well.
Investment banking firm Colchester Partners will be advising on the deal, the report said.
According to Bloomberg, Hamilton Lane is an employee owned investment manager established in 1991. It became a secondary firm a decade later. In September, Hamilton Lane announced that it had raised USD900 million for its third secondary fund.
Paul Capital went up for sale early this year following a lackluster fundraising for its tenth fund. PeHub reported that the company only raised USD145 million on its USD2 billion target after nearly a year in the market.
The private equity secondary market has witnessed a number of consolidations recently. British secondary firm Greenpark Capital was bought by StepStone Group, whilst Credit Sussie's Strategic Partners was acquired by The Blackstone Group, PeHub said.
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