Bala Cynwyd, Penn. – Hamilton Lane, a leading global private markets asset management firm, today announced that the New York Credit SBIC Fund (“the Fund”) has successfully completed its first investment. The Fund, in partnership with company management, is providing debt and equity to invest in LeverPoint Management (“LeverPoint”). LeverPoint is a Clifton Park, NY based fund administration business that offers full service accounting, tax and back office support within the alternative investment sector. LeverPoint is a small business with a significant presence in the state capital region and plans to further expand operations in the state.
“LeverPoint represents the first of what we expect to be many attractive investments that we plan on executing across New York State through the SBIC Fund,” said Dave Helgerson, Managing Director of Hamilton Lane. “With the support of our partners, we will continue to identify opportunities to strategically deploy capital from the Fund in an effort to bring jobs and meaningful growth to New York businesses.”
Hamilton Lane first announced the launch of the SBIC Fund in November 2015, upon the successful close of $200 million in total capital, with significant support from anchor investor, the New York State Common Retirement Fund (NYSCRF), as well as a number of other leading institutional investors, including TD Bank, Bank of NY Mellon, HSBC Bank, Deutsche Bank and First Niagara Bank. The Fund primarily provides debt and mezzanine financing to support growing New York-based small businesses. The Fund is the latest addition to Hamilton Lane’s existing credit platform, which the firm has been building out for more than 17 years and boasts a robust network of GPs and entrepreneurs. The main focus of the SBIC Fund is to provide loans to small businesses, which range in size from $1 million to $20 million in earnings and can invest in amounts ranging from $5 million to $20 million.
“This investment in LeverPoint, through the New York Credit SBIC Fund, will help provide a New York business with the resources it needs to continue expanding,” said New York State Comptroller Thomas DiNapoli. “As trustee of the state pension fund, I’m committed to seeking out sound investment opportunities that will grow the pension fund, as well as our state and local economies.”
About Hamilton Lane
Hamilton Lane is an independent alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. The firm has been dedicated to private markets investing for more than two decades and currently has more than 250 employees operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With more than $239 billion in total assets under management and supervision1, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis.
1 As of December 31, 2015