A Core Private Markets Portfolio Through a Single Allocation
The Hamilton Lane Private Secondary Fund (HLPSF) seeks to provide access to a diversified portfolio of mature private equity investments through a single allocation and a low minimum investment.
Leveraging Hamilton Lane’s extensive experience and scale, HLPSF is an evergreen fund and '40 Act registered investment vehicle designed to provide a diversified portfolio of mature private equity investments positioned for value creation. We believe with our substantial primary capital deployment, we are uniquely positioned to capitalize on the attractive long-term growth potential trends of the secondary market.
Important Risk Information
Shares are speculative and illiquid securities involving substantial risk of loss. Shares are not listed on any securities exchange and it is not anticipated that a secondary market for Shares will develop. Shares are subject to substantial restrictions on transferability and resale and may not be transferred or resold except as permitted. Although the Fund may offer to repurchase a limited amount of Shares from time to time, Shares will not be redeemable at a Shareholder’s option nor will they be exchangeable for Shares or shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate Shares. Shares are appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment and for whom an investment in the Fund does not constitute a complete investment program. The Fund has no operating history. The Board may elect to repurchase less than the full amount that a Shareholder requests to be repurchased and may under certain circumstances elect to postpone, suspend or terminate an offer to repurchase Shares.
Unique deal flow and investments
Hamilton Lane has developed a $20B AUM secondary platform over 24 years and HLPSF offers these opportunities in a continuous evergreen fund. We now have relationships with 15,800 managers and a database which monitors 61,000 private funds1, giving us deep sourcing networks and a strong information advantage.
Potential to achieve diversification
HLPSF provides private wealth investors with access to high-quality private market investments diversified across strategies, industries, vintages and geography, in a single fund with quarterly limited liquidity.
Investor-friendly fund structure
HLPSF is designed to eliminate the challenges of traditional private markets structures and investing via a single allocation, giving investors the potential to benefit from immediate deployment, quarterly redemptions and diversification.
1As of 9/30/2024
The Hamilton Lane Evergreen Advantage
Hamilton Lane is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 34 years, we have an extensive platform that drives unique and differentiated investment deal flow and access to best-in-class general partners. The scale of our platform, combined with our investment and portfolio management expertise, enables us to construct diversified portfolios for our investors.
How can Hamilton Lane help you achieve your investment objectives?
- 34 years of unmatched expertise
- Clients have access to the same investment teams that work with the largest institutions in the world
- Diversify your daily liquidity holdings with a vehicle that employs longer-term leverage to enable possible additional yield potential
*The Hamilton Lane Private Secondary Fund is new and therefore does not have a performance history for a full calendar year as of the most recent quarter end. Performance for periods prior to February 27, 2025 reflects the performance of the Hamilton Lane Private Secondary Fund DE Holdings LLC with an inception date of September 2024. Past performance is not a guarantee of future returns and current performance may be lower or higher than the figures shown. Returns shown net of all fees and expenses. Consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund and is available at www.hamiltonlane.com/psf or by calling 888-882-8212. Read carefully before investing. Expense ratios as of the most recent prospectus | 1.57%; R 2.97%; Y 1.27%.
Target Portfolio Construction
Single allocation exposure seeking to provide access to a diversified portfolio of mature private equity investments positioned for value creation.
- Our investment approach targets a broad spectrum of secondary opportunities, from GP-led, structured transactions to the purchase of individual fund interests
- Flexible approach across transaction types given our strong competitive position in both the LP and GP markets
- Primarily focused on developed markets, with more weight towards North America
- Focus on hard to access, high quality mid market buyout funds where our relationship advantage is prioritized
Target portfolios presented herein are subject to change without notice, are not intended as individual investment advice, and should not be considered as a solicitation to buy or sell any security.
For previous monthly reports, please visit our archive.
Contact Us
For general inquiries, please reach us at 866-361-1720 or evergreenproductsupport@hamiltonlane.com.
IMPORTANT RISK INFORMATION
Investors should carefully consider the investment objectives, risks, charges and expenses of the Hamilton Lane Private Secondary Fund before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus or by calling 1 (888) 882-8212. Please read the prospectus carefully before investing.
The Fund operates as a continuously offered non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended.
An investment in the Fund is generally subject to market risk, including the loss of the entire principal amount invested. An investment in the Fund represents an indirect investment in the securities owned by the Fund.
Some of the principal risks of the Fund include, risks in investments in portfolio funds, taxation, failure to qualify as a regulated investment company, prepayment risk, inflation and interest risks, business and structure related risks, management related risks, closed-end fund, temporary investments, cybersecurity risk, and potential future conversion to an interval fund. The Fund may engage in the use of leverage, derivative instruments, hedging, and other speculative investment practices that may accelerate losses. For a complete description of the Fund’s principal investment risks, please refer to the prospectus.
The Fund has limited operating history and the shares have no history of public trading.
The Fund is not a liquid investment. No Shareholder will have the right to require the Fund to redeem its Shares. The Fund from time to time intends to offer to repurchase Shares pursuant to written tenders by the Shareholders. The Adviser anticipates recommending to the Board that, under normal market circumstances, the Fund conduct repurchase offers of no more than 5% of the Fund’s net assets. The Adviser currently expects to recommend to the Board that the Fund conducts its first repurchase offer following the second full quarter after the effective date of the Fund’s registration (or earlier or later date as the Board may determine) and thereafter quarterly. Any repurchases of Shares will be made at such times and on such terms as may be determined by the Board from time to time in its sole discretion. There can be no assurance that the Fund will conduct repurchase offers in any particular period and Shareholders may be unable to tender Shares for repurchase for an indefinite period of time.
In determining whether the Fund should offer to repurchase Shares from Shareholders of the Fund pursuant to repurchase requests, the Board may consider, among other things, the recommendation of the Adviser as well as a variety of other operational, business and economic factors.
Valuation of the Fund’s Interests in Portfolio Funds:
The valuations reported by the Portfolio Fund Managers, based upon which the Fund determines its month-end net asset value and the net asset value per Share may be subject to later adjustment or revision. Because such adjustments or revisions, whether increasing or decreasing the net asset value of the Fund at the time they occur, relate to information available only at the time of the adjustment or revision, the adjustment or revision may not affect the amount of the repurchase proceeds of the Fund received by Shareholders who had their Shares repurchased prior to such adjustments and received their repurchase proceeds, subject to the ability of the Fund to adjust or recoup the repurchase proceeds received by Shareholders under certain circumstances.
Non-Diversified Status Risk:
Although the Fund is allocated across sectors and asset classes, it is a non-diversified fund and subject to risks associated with concentrated investments in a specific industry or sector and therefore may be subject to greater volatility than a more diversified investment.
Secondary Investments Risk:
The market for investments in Secondary Investments is inefficient and highly illiquid, and no efficient market is expected to develop during the term of the Fund. There can be no assurance that the Fund will be successful in consummating the types of transactions contemplated, that it will otherwise be able to identify sufficient secondary investment opportunities or other opportunities consistent with its investment objectives, that it will acquire sufficient Secondary Investments or other investments on attractive terms, or that it will otherwise be successful in implementing its investment objectives or avoiding losses (up to and including the loss of the entire amount invested).
Diversification does not guarantee a profit or protect against a loss in a declining market.
PINE Distributors LLC is the distributor of the Hamilton Lane Private Secondary Fund. Hamilton Lane Advisors, LLC. is the investment adviser to the Hamilton Lane Private Secondary Fund. PINE Distributors LLC is not affiliated with Hamilton Lane Advisors, LLC. Learn more about PINE Distributors LLC at FINRA's BrokerCheck.
HMLAN-4356240-04/25