Rio de Janeiro and Bala Cynwyd, Penn. – Hamilton Lane (NASDAQ:HLNE), a leading private markets asset management firm, today announced the final closing of its second dedicated fund in Brazil, Hamilton Lane Brazil Fund II (or the “Fund”). With approximately R$250 million in commitments, the Fund represents a sizeable increase to its predecessor, which closed at approximately R$150 million in 2014.
The Fund will pursue a similar strategy to its predecessor, seeking primary, secondary and co-investments in buyout and growth opportunities throughout Brazil, including in the healthcare, education, food services and consumer goods sectors. The Fund’s investors comprise a diverse array of Brazilian public and private pension funds and high-net-worth individuals. Prior to its closing, the Fund had already approved nearly R$125 million in more than a half dozen opportunities, representing a diverse and attractive initial portfolio.
“We are pleased to announce the final close of our second fund in Brazil,” said Brian Gildea, Head of Investments at Hamilton Lane. “Despite Brazil’s recent challenges, we believe the economy is on a sustainable growth path, with a strong opportunity set for private markets investors. We have been actively investing in Brazil for more than two decades and consider it to be a key part of our Latin American strategy.”
Ricardo Fernandez Jr., Managing Director and Head of Hamilton Lane’s Rio de Janeiro office, observed: “The improvement in the economy has created a dynamic market in Brazil. Interest rates are at an all-time low, which has created an attractive environment for the asset class as well as for fund managers to source opportunities. We’re seeing a number of opportunities in the secondaries market in particular.”
Hamilton Lane opened its first office in Brazil in September 2011 and has been actively investing in the region since 1997, currently managing approximately $3 billion throughout Latin America. Hamilton Lane has steadily grown its presence and resources in Brazil and today boasts a team of seven investment and business development professionals in the Rio de Janeiro office with extensive experience in the Latin American private markets.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 28 years, the firm currently employs approximately 390 professionals operating in offices throughout North America, Europe, Asia-Pacific, Latin America and the Middle East. Hamilton Lane has approximately $481 billion in assets under management and supervision, composed of approximately $66 billion in discretionary assets and more than $415 billion in advisory assets, as of September 30, 2019. 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. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.
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, 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 us; our ability to comply with investment guidelines set by our clients; 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, 2019 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.