In an announcement, Hamilton Lane said it has acquired Shott Capital Management. Shott is a private equity firm that provides in kind stock distribution management services to institutional investors. Hamilton Lane confirmed the sale but did not disclose the terms of the deal.
Currently, Shott Capital has US$2.7 billion committed to private equity while it has a current net asset valuation of US$1.1 billion. With the acquisition, Hamilton Lane increases the total managed assets to US$173.7 billion.
As part of the deal, two managing directors of Shott, namely Stepehn Minutoli and Roderick Berry would be joining the management team of Hamilton Lane. The two would be part of the acquisitions division and would retain their levels as managing directors.
The acquisition would allow Hamilton Lane to provide investment services to the institutional private equity clientele of Shott Capital as well as offer their clients management of newly introduced public portfolio company securities.
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