The business has established Hamilton Lane Private Assets Fund - a multi-strategy vehicle that seeks to generate capital appreciation over the medium and long term. It allows for monthly subscriptions and intends to offer a quarterly tender to provide limited liquidity. 

The fund will aim to invest in a mix of secondaries, direct investments and co-investments in credit and equity across geographies, industries, vintages and general partners. (“Secondaries” refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds.)

Hamilton Lane said that the fund, in contrast with traditional private market offerings, features a lower minimum investment of $50,000 and what it says are “simple 1099 tax reporting.” The firm seeded the fund with $30 million from its balance sheet, alongside an additional $100 million in capital from an anchor investor. PAF is Hamilton Lane’s latest “evergreen” product offering and is available first to certain qualified US investors. 

The firm’s Global Private Assets Fund, launched in May 2019, is open to HNW and wholesale investors in Australia, New Zealand, Canada, parts of Europe, Asia, Latin America and the Middle East. In total, GPA manages about $506 million in assets, as of December 22, 2020.