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Global fund-of-funds Hamilton Lane raises $1.5B in co-investment vehicle

Global private asset management firm Hamilton Lane has announced the final closing of Hamilton Lane Co-Investment Fund III at $1.5 billion.

The investors consist of new and existing Hamilton Lane backers including public pension funds, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, high-net-worth individuals and other financial institutions. The fund’s strategy is to provide direct equity capital into buyout and growth transactions, alongside some of the leading general partners.

Co-investment vehicles are created by fund-of-funds to have a parallel exposure to a portfolio firm along with a PE firm which it has backed. 

“With a dedicated co-investment team of over 20 professionals, experience in the space dating back to 1996 and over 200 completed transactions to date, investors were able to see Hamilton Lane as a uniquely experienced and focused option for obtaining co-investment exposure in their portfolios,” Erik Hirsch, chief investment officer of Hamilton Lane said in a press statement.

The latest fund is a successor to Hamilton Lane’s previous co-investment vehicle, Hamilton Lane Co-Investment Fund II which had a corpus of $1.2 billion and was raised in 2008.

Last year, the fund of funds had committed $30 million alongwith one more investor in Malaysia-based India and South-east Asia focused private equity firm Creador.

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