- Private Assets Fund Delivers 17.48% Annualized
Since-Inception Return and Reaches $1
Billion in Total AUM Since Launching in Q3 2020
- Global Evergreen Platform Growth Continues with $4.6 Billion in AUM, Underscoring the Firm's
Commitment to Expanding Access to Private Markets
CONSHOHOCKEN, Pa., Oct. 3, 2023 /PRNewswire/ -- As strong historical
performance and demand for new opportunities for return drive
investor interest in the private markets, Hamilton Lane's (NASDAQ:
HLNE) Private Assets Fund ("PAF" or the "Fund") has returned
17.48% annualized and reached $1
billion in AUM in its three years since inception as of
August 31, 2023.
The Fund delivers a diversified private equity portfolio to
qualified U.S. clients, including individual investors, their
wealth advisors and institutions. PAF seeks to eliminate some of
the challenges of traditional private equity fund structures,
including offering limited liquidity in the form of quarterly
limited repurchase offers by the Fund. PAF, a '40 Act registered,
continuously offered, closed-end investment vehicle, is part of
Hamilton Lane's expanding Evergreen Platform, which is one of the
world's largest with more than $4.6
billion in AUM globally.
As a multi-manager, sector-diverse vehicle with a global mix of
direct equity, secondaries and private credit investments, the Fund
seeks to deliver medium and long-term capital appreciation. Backed
by the firm's more than 30 years of exclusive focus on private
markets, PAF aims to deliver the historically outsized returns of
private markets to private wealth investors that have traditionally
been offered to institutional investors.
In addition to PAF, Hamilton Lane's Evergreen Platform
currently comprises the following:
- The Global Private Assets Fund ("GPA"), which launched in 2019
and is open to high-net-worth and wholesale investors in
Australia and New Zealand, Asia, Canada,
Europe, Latin America and the Middle East. In total, GPA manages
$3.2 billion as of August 31, 2023.
- The Senior Credit Opportunities Fund ("SCOPE"), which launched
in 2022 and is open to qualified high-net-worth investors and their
advisors in Canada, Europe, Latin
America and Southeast Asia.
In total, SCOPE manages $305.5
million as of August 31,
2023.
Jackie Rantanen, Head of Investor
Solutions, commented: "For PAF to reach $1
billion in AUM just as we mark three years since its launch
underscores our commitment to expanding investor access and
illustrates the effectiveness of the Fund's multi-manager,
multi-strategy approach. We are proud of the growth and performance
we've seen across the Evergreen Platform and are excited to
continue building on that success."
Steve Brennan, Head of Private
Wealth Solutions, commented: "At Hamilton Lane, we are committed to
making private market investments accessible to a broader universe
of investors around the world. To us that means focusing on
creating high-quality, investor-driven products as well as
educating and providing advisors, and in turn their clients, with
the tools, resources and information they need to confidently and
knowledgeably invest in the private markets. It's important to us
that, as our Private Wealth Platform grows, we can continue to
guide advisors and their clients along that journey with us."
Hamilton Lane's Private Assets Fund is exclusively focused on
the private markets and is therefore defined as a non-diversified
fund by the Investment Company Act of 1940. For more information on
Hamilton Lane's Evergreen Platform, please click here.
ABOUT HAMILTON
LANE
Hamilton Lane (Nasdaq: HLNE) is one of the
largest private markets investment firms globally, providing
innovative solutions to institutional and private wealth investors
around the world. Dedicated exclusively to private markets
investing for more than 30 years, the firm currently employs over
600 professionals operating in offices throughout North America, Europe, Asia
Pacific and the Middle
East. Hamilton Lane has nearly $818
billion in assets under management and supervision, composed
of $117 billion in discretionary
assets and approximately $701 billion
in non-discretionary assets, as of June 30,
2023. Hamilton Lane specializes in building flexible
investment programs that provide clients access to the full
spectrum of private markets strategies, sectors and geographies.
For more information, please visit www.hamiltonlane.com or follow
Hamilton Lane on LinkedIn:
https://www.linkedin.com/company/hamilton-lane/.
IMPORTANT RISK INFORMATION ABOUT PAF
Investors
should consider the Private Assets Fund's investment objectives,
risks, charges, and expenses carefully before investing. For a
prospectus that contains this and other information about the
Fund, call 1 (888) 882-8212. Investing in the Fund involves risk
including loss of principal.
• The Fund operates as a non-diversified, closed-end management
investment company under the Investment Company Act of 1940, as
amended. • Though the Fund intends to repurchase shares quarterly,
you may not have access to the money you invest for an extended
period of time. • The Fund is not a liquid investment. • You may
not be able to sell your shares at the time or in the quantity of
your choosing regardless of how the Fund performs. • Investors
should understand that the Fund's shares are not currently listed
on or available for trading through a securities exchange, and a
market for trading on an exchange may never be available to
investors. There is currently no secondary market, and no such
market is expected to develop. • Because you may not be able to
sell your shares at the time or in the quantity of your choosing,
you may not be able to reduce your exposure to the Fund in a market
downturn. • Shares are appropriate only for those investors who can
tolerate a high degree of risk and do not require a liquid
investment and for whom an investment in the Fund does not
constitute a complete investment program. • The amount of
distributions that the Fund may pay, if any, is uncertain. Past
performance is not an indicator of future results.
Hamilton Lane Advisors LLC is the Advisor to the Hamilton
Lane PAF. PAF is distributed by UMB Distribution Services,
LLC. UMB and Hamilton Lane are unaffiliated.
FORWARD-LOOKING STATEMENTS
Some of the statements in this release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Words such as "will," "expect," "believe," "estimate,"
"continue," "anticipate," "intend," "plan" and similar expressions
are intended to identify these forward-looking statements.
Forward-looking statements discuss management's current
expectations and projections relating to our financial position,
results of operations, plans, objectives, future performance and
business. All forward-looking statements are subject to known and
unknown risks, uncertainties and other important factors that may
cause actual results to be materially different, including risks
relating to: our ability to manage growth, fund performance,
competition in our industry, changes in our regulatory environment
and tax status; market conditions generally; our ability to access
suitable investment opportunities for our clients; our ability to
maintain our fee structure; our ability to attract and retain key
employees; our ability to manage our obligations under our debt
agreements; defaults by clients and third-party investors on their
obligations to fund commitments; our exposure and that of our
clients and investors to the credit risks of financial institutions
at which we and they hold accounts; our ability to comply with
investment guidelines set by our clients; our ability to
successfully integrate acquired businesses with ours; our ability
to manage risks associated with introducing new types of investment
structures, products or services or entering into strategic
partnerships; our ability to manage redemption or repurchase rights
in certain of our funds; our ability to manage, identify and
anticipate risks we face; our ability to manage the effects of
events outside of our control; and our ability to receive
distributions from Hamilton Lane Advisors, L.L.C. to fund our
payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more
information regarding these risks and uncertainties as well as
additional risks that we face, you should refer to the "Risk
Factors" detailed in Part I, Item 1A of our Annual Report on Form
10-K for the fiscal year ended March 31,
2023 and in our subsequent reports filed from time to time
with the Securities and Exchange Commission. The forward-looking
statements included in this release are made only as of the date
hereof. We undertake no obligation to update or revise any
forward-looking statement as a result of new information or future
events, except as otherwise required by law.
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SOURCE Hamilton Lane