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City Ave District’s largest private equity firm raises $278M for new fund

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Alternative asset manager Hamilton Lane said it has raised more $278 million for its Private Equity Fund X.

 

The City Ave District-based firm described its new product as a global and diversified private equity multi-strategy fund.

 

Primarily targeting small and midsize funds and transactions, Hamilton Lane said Fund X aims to provide investors with a balanced portfolio of private market investments by diversifying across primaries, secondaries and equity and credit co-investments, as well as identifying those managers believed to be capable of creating and driving value through operational improvements at the portfolio company level. The fund’s investor base is comprised of a diverse mix of limited partners, including public pension funds, Taft-Hartley pension plans, endowments, foundations and other institutions.

“Even with an overall shift in investor preference more towards customized separate accounts or single strategy-focused funds, the multi-strategy structure continues to fit the needs of certain investors, as evidenced by our long history of raising multi-strategy funds,” Hamilton Lane Managing Director and Head of Product Management Jackie Rantanen said in a statement.

 

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By   – Reporter, Philadelphia Business Journal
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