Hamilton Lane has raised $3.8bn for its latest co-investment fund, targeting private equity-backed middle-market deals across North America and Western Europe, according to a report by Bloomberg.
Hamilton Lane Equity Opportunities Fund VI is larger than its predecessor, which raised $2.1bn in 2023. The vehicle will invest alongside private equity sponsors through the firm’s global direct equity platform.
Ken Binick, head of direct equity investments at Hamilton Lane, said the fund is focused on the middle market, where access can be difficult for both smaller and larger investors. Around 70% to 75% of the fund’s capital is expected to be deployed in North America, with the remainder in Western Europe.
The fundraise reportedly attracted a range of institutional investors, including public pension funds, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, family offices and other financial institutions. Around 35% of the vehicle has already been deployed.
Hamilton Lane oversees or supervises about $1tn in assets. Its direct equity platform manages $22.2bn across commingled co-investment funds, evergreen vehicles and discretionary separate accounts.