Access to primary, secondary and direct investments across infrastructure, real estate and natural resources
The Real Assets Investment Team focuses on global real asset investment opportunities that have the potential to generate consistent distribution yields and compelling risk-adjusted total returns. We remain highly selective, while seeking to deploy capital in situations in which we believe we have a competitive advantage in gaining access to and evaluating high-quality assets alongside leading general partners and operators. We believe this approach, coupled with thoughtful and deliberate portfolio construction, provides our clients with diversified and well-managed exposure to global real assets.
- Highly selective, investing in only 3.33% of $189.60B+ worth of transactions reviewed from 2019-2023
- Actively investing in real assets since 1999, the team today manages more than $13.9 billion of AUM and $175.5+ billion of AUS
- Unique access within the sector due to investment relationships with 130+ individual managers, leading to visibility on differentiated, often off-market opportunities across sub-sectors1
1As of 9/30/2023. Includes any investment with an investment strategy of real estate, infrastructure, or natural resources.
Deal Spotlights
Project Polaris
Who they are
A leading, independent renewable power producer across Italy, the U.S., Japan and India that has developed and built 15GW and 13GW of solar energy, respectively.
Why it matters
Ambitious targets for sourcing renewable power are being set across the globe due to increasing demand and net-zero emission targets. The company will benefit from incentives such as the REPowerEUplan and the U.S. Inflation Reduction Act.
The bottom line
The company has a strong asset base, with 1.3GW of solar PV assets in operation and late-stage construction, in addition to durable cash flows through 10 to 25-year PPA or tariff agreements. It also had an additional 400MW of capacity expected to achieve CoD in 2024 and 2025 for additional upside. This was an oversubscribed opportunity structured as preferred equity with a mid-teens target return.
The HL advantage
Despite limited capacity, we gained significant allocation to the opportunity through our long-standing relationship with the sponsor.
Project Castle
Who they are
Leading owner and operator of WtE facilities in North America, comprised of three business segments across waste processing and services, energy and metals.
The bottom line
The company controls ~75% of WtE market share in North America with high barriers to entry, protecting it from new entrants. Additionally, the company has a large, diversified legacy customer base with long-term contracts and several near-term growth opportunities.
Managing Director Peter Larsen dives deeper into the HL advantage in this deal spotlight video.
Project Gateway
Who they are
U.S. transportation lessor and solutions provider with a fleet of over 100k owned trailers, marine chassis and containers across 71 locations.
Why it matters
The rise of e-commerce and transportation volumes has bolstered demand for the company’s technology-based equipment leasing solution.
The bottom line
The sponsor and in-place management team have exhibited the ability to capture growth initiatives by reshaping the company through both acquisitions and organic initiatives.
The HL advantage
Our status as a preferred partner to the sponsor and our ability to execute in a short timeframe provided us with a full commitment to an oversubscribed transaction that saw several peers cut back. Further, our direct access to a number of competing businesses allowed for extensive reference-checking on the business, market dynamics and investment thesis.
We leverage our global platform, information advantages and deep sector expertise in real estate, infrastructure and natural resources to identify what we believe to be the best risk-adjusted investment opportunities for our clients and managed accounts.
Head of Real Assets Investments
Greater insight driven by a robust technology platform
Hamilton Lane’s continued investment in private markets technology solutions provides unparalleled access to information including a database with more than 21,000+ funds, 13,660 unique managers, and 152,100+ companies, properties and assets. Further, each year the firm participates in over 1,300 meetings with general partners on average, and reviews 1,100+ PPMs. Together, these insights help enable Hamilton Lane to be a more informed investor and a valuable strategic partner to managers, thereby providing access to unique opportunities.
*As of 12/31/23