(Reuters) – Hamilton Lane (NASDAQ:) raised $5.6 billion from its Hamilton Lane Secondary Fund VI, exceeding its initial target, the investment management firm said late on Tuesday.
The fundraise, the largest in the company’s history, received strong support from a diverse group of new and existing investors, with the fund exceeding its $5 billion target, the company said in a statement.
The company did not specify what it would use the funds received for.
Geopolitical pressures and economic uncertainty have recently dampened investor sentiment, negatively impacting private equity fundraising globally.
Hamilton Lane Secondary Fund VI (Fund VI), part of the company’s secondary platform, follows the fundraising of its Secondary Fund V, which had $3.9 billion in commitments in 2021.
As of March 31, Hamilton’s secondary platform represented $20.9 billion in assets under management.
“Circumstances driving the appetite for liquidity in the market continue to grow, and we are pleased to take a compelling position with what we believe is one of the most experienced and cohesive secondary platforms,” Tom Kerr, Co-Head of Investments and Global Partnerships. Head of the secondary investment department, the message says.