Market Overview

2021 Market Overview

The Hamilton Lane Market Overview reviews the trends, challenges and opportunities found in today’s global financial markets. This year’s theme – a spin on Aesop’s fable of The City Mouse and the Country Mouse – explores the bifurcation of the market and investment environment resulting from the COVID-19 pandemic and other notable events of the past year.

We invite you to join us as we share the story of what transpired in the private markets and the broader global economy in 2020, and what is likely to happen in 2021. We spin a good yarn and, like our friend Aesop, leave you with a lot to consider.



The Big Ideas:

Growth Vs. Value

In the private markets, buyout has been historically viewed as “value” and venture as “growth.” Tilting your portfolio one way or the other was generally more of a function of your access to top-tier venture than of your view of growth versus value. That dynamic has changed.

The "Real" Risk

Let’s cut to the chase: The real risk in the private markets is related to liquidity and upside capture. It is not related to risk of loss, particularly in buyout, infrastructure and credit. Understanding and assessing the risks you are taking is crucial to investing well in the private markets.

Western Europe is the New Venture

Investors tend to think about Western Europe as similar to the U.S., just a little smaller. But that characterization overlooks some important attributes that distinguish the markets – and liken it to venture. This might require a re-think of how you invest in Europe.

2020 was a story of two different realities, and surely many public market investors know that story all too well. Consider how a portfolio overweighted to video communications and online shopping compared to one overweighted to the travel industry? Depending on which side of that equation you were on, the past year (solely looked at from an investment returns perspective) was either positive – or dramatically less so.

Recent Content

Insights

Weekly Research Briefing: Flip Flops

The inexpensive foot coverings are great for summer strolling and poolside patio navigating, but they are not ideal for path hiking or street running. Equally put, White House tariff flip flopping could be good for some short-term traders, but the lack of certainty is not helpful for long term investors or managers of any sized business.

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News | 4 Min Read

Hamilton Lane Incorporated Reports Fourth Quarter Fiscal 2025 Results

Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the third fiscal quarter ended March 31, 2025.

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News | 2 Min Read

Funds Managed by Hamilton Lane Invest in IMM Infra Private Equity Fund

Funds managed by Hamilton Lane have invested through a secondary transaction in the IMM Investment Infra 8th Private Equity Fund.

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