Hamilton Lane has closed its largest-ever fund, raising $5.6bn in commitments for its latest secondaries vehicle.
The US-based private markets specialist said its Secondary Fund VI exceeded its original $5bn target and had garnered support from both new and existing investors, including corporate and public pension funds, sovereign wealth funds, endowments, foundations, private wealth platforms and other financial institutions from over 30 countries around the world.
The firm did not say what it would use the proceeds on.
Tom Kerr, co-head of investments and global head of secondary investments, said: “The circumstances driving appetite for liquidity in the market continue to grow, and we are excited to sit in a compelling position with what we believe is one of the most experienced and cohesive secondary platforms.
“Fund VI is a continuation of our longstanding secondary franchise, and we continue our mission of seeking to find differentiated secondary opportunities at attractive inflection points where we have familiarity and a competitive angle.”
The fund’s predecessor, Secondary Fund V, closed on $3.9 billion in commitments in 2021. Hamilton Lane’s secondaries platform had around $20.9 billion in assets under management as of March 31, 2024.
