Hamilton Lane raises over $300m for credit-oriented fund

The fund-of-funds manager has added more capital to its global lending platform.

Hamilton Lane has raised $303.6 million for its Hamilton Lane Strategic Opportunities Fund IV 2018, according to two SEC filings published on January 9.

An onshore vehicle had garnered $159.3 million from four institutions as of January 22, according to one filing.

The other vehicle had attracted $144.4 million backed by 12 investors, according to the other filing. It is not clear if those funds have the same institutions committed to both vehicles.

Erik Hirsch, vice chairman and head of strategic initiatives at Hamilton Lane said that the firm is in the market with several specialized funds under its opportunity series during the latest earnings call on November 7, 2017.

“These include the fourth co-investment fund, the 2018 vintage credit-oriented fund and the tenth private equity fund of funds,” Hirsch said.

Last year’s fund, Hamilton Lane Strategic Opportunities Fund 2017, is structured for short-term investments. The investment period for the fund is one year, according to a statement from the firm published on June 14, 2017.

It garnered $435 million in commitments from global investors, including a $2.5 million commitment from the Municipal Authority of Westmoreland County Employees Pension Plan.

A managing director at Hamilton Lane previously said in an interview that the firm will use the series to invest in an array of different industries, opportunistically looking at transactions on a deal-by-deal and relative value basis, as per previous PDI reporting.

Previously, Hamilton Lane held a final closing of $210 million for its Strategic Opportunities Fund 2016, surpassing the $150 million target in June 2016, according to a statement from the firm.

The firm has launched four funds for the strategic opportunities series since 2015, targeting credit-oriented investments with cash yield.

Its assets under management were sized at $405 billion in total as of September 2017, according to the latest earnings report.

Hamilton Lane declined to comment on the latest fund.