- Represents Continued Expansion of SBIC Offerings to
Provide Funding to Companies and Regions Across the United
States
CONSHOHOCKEN, Pa., Oct. 16,
2023 /PRNewswire/ -- Leading private markets
investment management firm Hamilton Lane (Nasdaq: HLNE) today
announced the final closing of Hamilton Lane National Small
Business Credit Fund, L.P. and Hamilton Lane New York SBIC Fund II,
L.P. (or "the Funds"). Together, the Funds total $290 million in size,* with commitments from
leading institutional investors across the United States.
Hamilton Lane launched New York SBIC Fund I in 2015, with the
goal of identifying opportunities to strategically deploy capital
to help drive development and advance small businesses in
New York State. Building on the
success of the firm's first SBIC offering, the Funds were launched
in 2022. These offerings seek to follow a consistent strategy and
structure, focusing on providing loans to lower middle market
businesses with EBITDA ranging from $3 to $25
million.
Hamilton Lane is hopeful that this broadened investment mandate
will continue to see similarly attractive opportunities across
expanded regions. The Funds are part of the firm's existing credit
platform, which has more than a 22-year long history of investing
in direct credit and boasts a robust network of sponsor
relationships.
Dave Helgerson, Managing
Director, Direct Equity Investments at Hamilton Lane, said:
"Successfully raising two new SBIC offerings demonstrates the
strength of our platform and our clients' conviction in our ability
to execute small business transactions. With the support of our
partners, we plan to strategically deploy capital from the Funds
and hope to bring meaningful growth and impact to small businesses
in New York State and across the
country."
Trevor Messerly, Managing
Director, Direct Credit Investments at Hamilton Lane, commented:
"The Funds mark another significant milestone in the development of
our SBIC offerings and build on the success of Hamilton Lane's
broader private credit platform. We seek to leverage our size and
scale to source investment opportunities from a diversified pool of
established equity and credit managers, intermediaries and
independent sponsors to support small businesses. Amidst a tighter
lending environment for businesses of this size, our SBIC platform
is uniquely positioned to provide funding to companies and regions
that would otherwise have limited access to private capital."
*This includes capital committed to the funds as well as
confirmed and anticipated SBA leverage issued to the fund for
investments.
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/
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SOURCE Hamilton Lane