Hamilton Lane Nears Final Close for its Largest Secondaries Fund

Hamilton Lane, a leading private equity firm renowned for its successful fund management, anticipates the imminent final close of its latest flagship secondaries fund. Co-chief executive Erik Hirsch revealed during the firm’s fiscal Q3 2024 earnings call that they are poised to surpass the previous fund size significantly. The Hamilton Lane Secondary Fund VI, launched in 2021 with a $5 billion target, has already secured $3.5 billion from investors.

The fund, which reached its fifth close in June last year, has been steadily attracting investments, with Hirsch expressing confidence in exceeding its target. This momentum follows the success of its predecessor, Hamilton Lane Secondary Fund V, which closed in early 2021 with $3.9 billion raised against a $3 billion target. Notably, Hamilton Lane has a history of achieving its largest funds during final closes, a trend expected to continue with this latest raise.

In the quarter ending December 2023 alone, Fund VI brought in over $485 million and generated $6.1 million in retroactive fees, underscoring investor confidence and the fund’s potential for robust returns. With Hamilton Lane’s track record of managing successful funds and the enthusiastic response from investors, the final close of Fund VI is poised to be a significant milestone for the firm.