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