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Dispersion of Infrastructure Returns

Dispersion of Infrastructure Returns

By TC Rolfstad, Vice President, Real Assets

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Secondary Return Attribution

Secondary Return Attribution

By Ryan Smith, Vice President, Secondaries

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Unicorn Playbook: 2019 Edition

Unicorn Playbook: 2019 Edition

In the investment world, the term “Unicorn” is widely understood to represent a privately-held company that has reached a billion-dollar valuation. In fact, we debated even defining it here. But, for the uninitiated, let’s take a quick trip down memory lane all the way back to…2013. When the venture capitalist Aileen Lee first coined the term that year, 39 such companies were in existence. Much like the mythical beast itself, a private company with a one-billion-dollar valuation was still a statistical rarity at the time. However, in just the past six years, the unicorn ranks have swelled at an ever-increasing rate.

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Private Markets in Asia: A Country-by-Country Guide

Private Markets in Asia: A Country-by-Country Guide

What exactly is the private market landscape in Asia? Just like its cultures, cuisines and languages, Asia's private market landscape is very large and diverse, with enormous regional variations. In this white paper, the first in a series on the private markets in Asia, Managing Director Mingchen Xia and Principal Shannon Chow look at the five key regions that make up the space: China, India, North Asia (Japan and Korea), South East Asia ("SEA") and Australia.

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Pulling Back the Curtain on Real Estate Performance

Pulling Back the Curtain on Real Estate Performance

As investor interest in the real assets sector continues to increase, we thought we’d take the opportunity to pull back the curtain on one specific (often beloved) sub-sector: Real estate.

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The Myth of "Peak Venture"

The Myth of "Peak Venture"

To the casual observer, it may seem like all signs are pointing to “peak venture.” The news is full of stories exposing the excesses of the industry and predicting its imminent collapse. And to be fair, there’s plenty for people to worry about: fundraising for venture is at an all-time high; prices by round are setting records; unprofitable IPOs are back in vogue with public investors willing to bet big on businesses burning through cash; and possibly the most alarming indicator of all, Patagonia is so concerned by its association with the image of VCs that it announced it will no longer allow financial firms to add their logos to their signature fleece vests. An entire generation of aspiring venture capitalists cut off from the one piece of clothing that expresses their love for both casual outdoor adventures and MOIC.

One of the problems with the “peak venture” view is that these same market factors have been in effect for years, and yet the market has continued to take off, seemingly unfazed. Venture and growth equity have consistently outperformed the broader private markets, the developed market buyouts and the public benchmarks over the last one-, five- and ten-year periods. And, in that same period, HBO has filmed five seasons of Silicon Valley – so shouldn’t the euphoria have subsided by now? What’s fueling this market beyond Soylent and raw ambition? To answer that, we zipped up our vests, laced up our Allbirds and dove into our data to better understand what’s driving this growth and how sustainable it could be.

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A Tale of Real Assets: Real Assets Market Overview

A Tale of Real Assets: Real Assets Market Overview

With a 38% increase in Real Assets PPMs received by Hamilton Lane in 2018 versus the prior year, choice – and investor interest – in real assets continues to grow. Our real assets team offers its unique perspective on this this expanding, and increasingly complex, market. Aptly titled A Tale of Real Assets, our inaugural Real Assets Market Overview offers an in-depth review of the space, the disparate strategies and realities within today’s market and a breakdown of the trends and opportunities within each sub-sector.

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Co-Investing: The Struggle is Real

Co-Investing: The Struggle is Real

Some are ardent proponents, others are vehement skeptics. Regardless, with growing public discourse, the level of interest in CI continues to grow. In this white paper, Managing Director Jeff Armbrister discusses the ins and outs of co-investing in the private markets.

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Navigating the Muddy Waters of Real Assets Benchmarking

Navigating the Muddy Waters of Real Assets Benchmarking

By TC Rolfstad, Vice President, Real Assets

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Choose Your Own Downturn

Choose Your Own Downturn

At Hamilton Lane, we spend a lot of time listening. It’s how we stay in tune with the mood in the market and a big part of how we ensure we’re offering our clients and investors the service and support they’re looking for in this asset class. Lately, what we’re hearing as the first, second and third question on the minds of LPs is some version of the following: Volatility has to go up and a downturn is inevitable, so how do I best position my private markets portfolio?

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Does investing in PE have to be this hard to get to?

Does investing in PE have to be this hard to get to?

Traditionally, the benefits of private equity investing have been enjoyed by long-term, well established, institutional investors with a dedicated presence in the asset class. That’s because the private markets have a high barrier to entry, they’re largely illiquid, and require teams of resources and expertise to make informed decisions. But, does it have to be that hard to get to?

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Intention, Retention & Measurement: What it Takes to Move the Needle on Women in the Private Markets

Intention, Retention & Measurement: What it Takes to Move the Needle on Women in the Private Markets

By Kate McGann, Vice President, Public Relations

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Impact Investing  in the Private Markets

Impact Investing in the Private Markets

For the private markets, 2018 was marked by some record highs in terms of fundraising and deal flow, some worrisome trends in the way of compressed outperformance versus the public markets, as well as some welcome developments – such as LPs increasingly investing in their own infrastructure. (High fives all around on that front!) Generally, the markets performed well once again, and investors remain positive on the industry overall, with most planning to maintain or increase their allocations as shown in our 2018/2019 Private Markets Survey.

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New Years Resolution: New Year, New Data & Technology

New Years Resolution: New Year, New Data & Technology

The arrival of a new year presents each of us with an opportunity to consider change. With the books closed on 2018 and a new year just underway, Griff Norville, Principal, suggests that this may be an opportune time to make some changes that will positively impact your organization in 2019 and beyond.

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2018/2019 Private Markets Survey

2018/2019 Private Markets Survey

Our fifth annual Private Markets Survey captures insights and opinions from industry-leading investors and fund managers from around the world for a telling look into the private markets.

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2018 Greatest Hits

2018 Greatest Hits

Take a walk down memory lane with us as we look back at our most popular pieces of content from 2018.

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2018/2019 GP Dashboard

2018/2019 GP Dashboard

Hamilton Lane's fifth annual GP Dashboard captures the opinions and expectations of a global, diverse group of general partners and offers telling information about where the GP community believes the private markets are headed.

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Insights From Inaugural AVCJ Women in Asian Private Equity Forum

Insights From Inaugural AVCJ Women in Asian Private Equity Forum

By Shannon Chow, Principal

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What’s Top of Mind for Today’s LP

What’s Top of Mind for Today’s LP

By Mike Koenig, Chief Client Officer

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U.S.-China Trade War: The topic du jour, but is it really consequential for private markets investors?

U.S.-China Trade War: The topic du jour, but is it really consequential for private markets investors?

In this article, Head of Investments Brian Gildea provides our take on today's most hotly-debated topic and outlines six factors for investors to consider during a trade war.

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Real Asset Redux: Diversifying Beyond Just Real Estate

Real Asset Redux: Diversifying Beyond Just Real Estate

The real assets world has evolved beyond just real estate, with so many niche sub-asset classes – all with varying market sizes and differing return drivers – the question of how they all fit together can be a complex one. In this white paper, Real Asset Product Manager Radhika Cobb outlines how a diversified real assets exposure can offer important benefits in a long-term investment portfolio when approached in a thoughtful manner.

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As ESG and Impact Investing Enters the Mainstream, Investors Strive for Measurable Metrics
Hamilton Lane Partners with Drexel University to Bring PE Experience to the Classroom

Hamilton Lane Partners with Drexel University to Bring PE Experience to the Classroom

By Therese Hipkins, Bryan Jenkins and Katie Moore

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Discussions with Senior Women in Private Real Estate Investing at Kayo Conference Series

Discussions with Senior Women in Private Real Estate Investing at Kayo Conference Series

By Radhika Cobb, Vice President, Real Assets

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Private Markets and the Menace of Volatility

Private Markets and the Menace of Volatility

For the last several years, the global financial markets have benefited from benign fundamentals, plentiful liquidity and rising asset prices. However, as of late, volatility has resurfaced and strategies designed to benefit from a low volatility bull market have been called into question. In this article, Head of Research Mike Ryan analyzes the relationship of volatility and buyout performance from prior cycles to see what it might tell us about this cycle.

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