Hamilton Lane, a leading global private markets investment firm, has marked a significant milestone as its Private Assets Fund (PAF) achieved $1 billion in Assets Under Management (AUM) as of August 31, 2023. This achievement comes on the back of exceptional historical performance, with the fund delivering an impressive annualized return of 17.48%.
Designed to cater to qualified U.S. investors, wealth advisors, and institutions, PAF offers a diversified private equity portfolio. What sets PAF apart is its innovative approach to addressing the liquidity concerns often associated with standard private equity funds. The fund provides quarterly limited repurchase offers, offering investors more flexibility and accessibility.
PAF is a '40 Act-registered, closed-end investment vehicle, making it a regulated and continually marketed fund. It is a key component of Hamilton Lane's Evergreen Platform, a platform with over $4.6 billion in AUM, further solidifying Hamilton Lane's position as a major player in the private markets.
Additionally, the fund adopts a multi-manager, sector-diverse strategy, aiming for medium- and long-term capital appreciation through investments in direct equity, secondaries, and private credit on a global scale. PAF is focused on delivering private wealth clients the historically robust returns that institutional investors have enjoyed over the years, leveraging the firm's 30 years of dedicated focus on private markets.
Hamilton Lane's Evergreen Platform also includes the Global Private Assets Fund (GPA) and the Senior Credit Opportunities Fund (SCOPE). GPA, which opened its doors to high-net-worth and wholesale investors in various regions in 2019, now manages an impressive $3.2 billion as of August 31, 2023. SCOPE, launched in 2022, caters to qualified high-net-worth investors and advisers in select regions and currently oversees $305.5 million.
Jackie Rantanen, Head of Client Solutions, expressed pride in PAF's rapid growth, emphasizing the fund's multi-manager, multi-strategy approach. Steve Brennan, Head of Private Wealth Solutions, underlined Hamilton Lane's commitment to democratizing private market investments and empowering investors worldwide.
Hamilton Lane's Private Assets Fund is classified as a non-diversified fund under the Investment Company Act of 1940, emphasizing its focus on private markets. It's important for investors to carefully evaluate the fund's goals, risks, fees, and expenditures before making an investment.
This milestone reinforces Hamilton Lane's position as a powerhouse in the global private market landscape.