The latest news about investment products, new structures and service offerings that might be of interest to the wealth management industry.

Hamilton Lane
Private markets investment management firm Hamilton Lane, which is listed on the Nasdaq exchange, has held the final closing of a fund with $953 million of commitments. 

The entity is called the Hamilton Lane Strategic Opportunities Fund VII. Commitments came from a range of institutions, including returning and new investors across North America, Asia, Europe, the Middle East, Africa and Latin America.

The fund mainly uses direct credit investments, selectively adding credit-like investments to create a portfolio biased toward shorter-duration exposures, seeking downside protection.

“This is a unique moment for private credit as an asset class. Volatility concerns and rising interest rates are attracting investors to private credit due to its floating rate nature and historical consistency of performance through up and down markets,” Nayef Perry, global co-head of direct credit at the firm, said. “Additionally, periods of market uncertainty tend to negatively impact the public credit markets, which creates opportunities for private lenders who are well-equipped to navigate complexity and provide certainty of capital to borrowers.”

Hamilton Lane has more than $832 billion in assets under management and supervision, composed of $108 billion in discretionary assets and more than $724 billion in advisory assets, as of June 30, 2022. The firm recently took a strategic stake in CAIS, the alternative investments platform firm based in the US.