Hamilton Lane has launched an evergreen investment vehicle focused on the secondary market for accredited high-net-worth individuals and their advisers, as well as institutional investors. Attracting strong investor demand, the Hamilton Lane Global Private Secondary Fund ( HLGPS ) has already surpassed US$365 million in assets under management, nearly doubling its launch target size.

The fund is available in parts of Europe, the Middle East, Asia, and Latin America, as well as in Canada. It seeks to provide investors with long-term capital appreciation primarily by building a diversified portfolio of secondary investments. HLGPS offers access to high-quality private market investments diversified across strategies, industries, vintages, and geography, in a single vehicle with quarterly limited liquidity.

The fund’s strategy focuses on middle-market buyout funds and assets, with significant near-term distribution potential. It also employs a flexible approach across secondary transaction types by leveraging Hamilton Lane’s over 24 years of experience in the secondary market and substantial capital deployment.

In comparison to primary investments, secondary investments can typically present benefits such as diversification, J-curve mitigation, knowledge of underlying assets, increased pace of capital deployment, and value through discounts.

“The secondary market has evolved into a permanent fixture in private markets and is one of the fastest growing strategies today, as evidenced by this fund being oversubscribed,” says James Martin, head of global client solutions at Hamilton Lane. “Building on our experience helping institutional investors access this space, HLGPS aims to deliver the compelling benefits of secondaries to a wider set of investors. As the demand for evergreen funds continue to grow globally, we continue to strengthen our offering across strategies.”

The fund is the latest addition to Hamilton Lane’s evergreen platform, which now has over US$12 billion in assets under management.