- Erik Hirsch and Juan
Delgado-Moreira Elevated to Co-Chief Executive Officers
- Mario Giannini to Transition
to Executive Co-Chairman alongside Hartley Rogers
CONSHOHOCKEN, Pa., Sept. 12,
2023 /PRNewswire/ -- Hamilton Lane (Nasdaq:
HLNE), a leading global private markets investment management firm,
today announced that long-time executives Erik Hirsch and Juan
Delgado-Moreira have been appointed Co-Chief Executive
Officers, effective January 1, 2024.
They succeed Mario Giannini, who,
after 22 years as Hamilton Lane's CEO, will join Hartley Rogers as
Executive Co-Chairman. Rogers has served as Chairman of the Board
since 2005.
"We're thrilled to be making this announcement today – at a time
when Hamilton Lane is as strongly positioned as it's ever been in
terms of our global platform and scale, new and differentiated
product lines, growing client base and deep leadership bench,"
Giannini said. "With Erik and Juan stepping into the roles of
Co-CEOs, I am both confident and excited about the future of
Hamilton Lane, knowing we've identified the right leaders to build
upon the strength of our current foundation and guide us through
the next evolution of our business. Personally, I look forward to
continuing to play an active role, spending time and deepening
relationships with clients, opining on the markets and helping set
the strategic direction of the firm."
"I'm very proud of all that we've accomplished at Hamilton Lane
over the past 20 years. This new structure reinforces the
foundation of our firm as we continue to expand our leadership
position in global private markets. I am incredibly grateful to
Mario for his leadership through decades of tremendous
transformation and look forward to continuing our active roles in
advancing the best interests of Hamilton Lane's clients, employees,
shareholders and business partners," Rogers said. "Today's
announcement reflects a thoughtfully considered transition plan –
one that elevates two long-standing partners to well-deserved
roles. Erik and Juan have been instrumental in shaping Hamilton
Lane into the outstanding firm it is today through their respective
contributions to our investment success, product innovation and
global reach."
Effective as of January 1, 2024,
Delgado-Moreira will be appointed to the Board of Directors, and
will primarily focus on leading Hamilton Lane's global sales
efforts and client service organization, while Hirsch will lead the
firm's strategic direction and manage its operations. The two will
jointly lead the firm's global investment team. Hirsch and
Delgado-Moreira are both long-tenured Hamilton Lane executives who
have held a variety of positions throughout their careers and have
a detailed and nuanced understanding of the firm's many business
lines. Their combined experience, highly complementary investment
and strategic management skill sets, and track record of leadership
bring a broad and differentiated set of perspectives and strongly
position the firm to capitalize on many compelling opportunities to
enhance profitability and scale.
- Erik Hirsch joined
Hamilton Lane in 1999 and is based in Conshohocken. He leads the firm's strategic
and technology initiatives, serves on the firm's Investment
Committee, and is a member of the company's Board of Directors. He
served as the firm's Chief Investment Officer from 2003 to 2016.
Prior to joining Hamilton Lane, Erik was a corporate investment
banker in the Mergers & Acquisitions department of Brown
Brothers Harriman & Co. He began his career as a municipal
financial consultant with Public Financial Management (PFM). Hirsch
earned his B.A. from the University of
Virginia and is a trustee of the University of Virginia's College Foundation, as
well as a board member of University of
Virginia's Center for Politics and the Philadelphia 76ers Youth Foundation. Hirsch
serves as a board member of Novata, a public benefit corporation,
and is an observer on the board of directors of TIFIN, an innovator
of fintech solutions.
- Juan Delgado-Moreira,
PhD, CFA, joined Hamilton Lane in 2005. He serves as Vice Chair and
is based in Hong Kong, where he is
an Investment Committee member and oversees international
investment activities and client relationships. His primary focus
is on expanding Hamilton Lane's presence across the globe. Prior to
joining Hamilton Lane, Delgado-Moreira was an Investment Manager at
Baring Private Equity Partners Ltd. in London, focused on mid-market private equity
in Europe. Previously, he held
senior research positions at U.K. institutions such as the
University of Essex and was a
lecturer and Fulbright Scholar at Stanford
University. Delgado-Moreira received a Ph.D. in Research
Methods and Statistics and a B.A. in Political Science and
Sociology from the Universidad Complutense de Madrid, Spain. He is a Chartered Financial
Analyst and a member of the CFA Institute.
ABOUT HAMILTON LANE
Hamilton Lane (Nasdaq: HLNE) is one of the largest private
markets investment firms globally, providing innovative solutions
to institutional and private wealth investors around the world.
Dedicated exclusively to private markets investing for more than 30
years, the firm currently employs over 600 professionals operating
in offices throughout North
America, Europe,
Asia Pacific and the Middle East. Hamilton Lane has nearly
$818 billion in assets under
management and supervision, composed of $117
billion in discretionary assets and approximately
$701 billion in non-discretionary
assets, as of June 30, 2023. Hamilton
Lane specializes in building flexible investment programs that
provide clients access to the full spectrum of private markets
strategies, sectors and geographies. For more information, please
visit www.hamiltonlane.com or follow Hamilton Lane on
LinkedIn: https://www.linkedin.com/company/hamilton-lane/.
FORWARD-LOOKING STATEMENTS
Some of the statements in this release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Words such as "will," "expect," "believe," "estimate,"
"continue," "anticipate," "intend," "plan" and similar expressions
are intended to identify these forward-looking statements.
Forward-looking statements discuss management's current
expectations and projections relating to our financial position,
results of operations, plans, objectives, future performance and
business. All forward-looking statements are subject to known and
unknown risks, uncertainties and other important factors that may
cause actual results to be materially different, including risks
relating to: our ability to manage growth, fund performance,
competition in our industry, changes in our regulatory environment
and tax status; market conditions generally; our ability to access
suitable investment opportunities for our clients; our ability to
maintain our fee structure; our ability to attract and retain key
employees; our ability to manage our obligations under our debt
agreements; defaults by clients and third-party investors on their
obligations to fund commitments; our exposure and that of our
clients and investors to the credit risks of financial institutions
at which we and they hold accounts; our ability to comply with
investment guidelines set by our clients; our ability to
successfully integrate acquired businesses with ours; our ability
to manage risks associated with introducing new types of investment
structures, products or services or entering into strategic
partnerships; our ability to manage redemption or repurchase rights
in certain of our funds; our ability to manage, identify and
anticipate risks we face; our ability to manage the effects of
events outside of our control; and our ability to receive
distributions from Hamilton Lane Advisors, L.L.C. to fund our
payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more
information regarding these risks and uncertainties as well as
additional risks that we face, you should refer to the "Risk
Factors" detailed in Part I, Item 1A of our Annual Report on Form
10-K for the fiscal year ended March 31,
2023 and in our subsequent reports filed from time to time
with the Securities and Exchange Commission. The forward-looking
statements included in this release are made only as of the date
hereof. We undertake no obligation to update or revise any
forward-looking statement as a result of new information or future
events, except as otherwise required by law.
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SOURCE Hamilton Lane