Hamilton Lane Closes on National and New York-Focused Small Business Credit Funds, Totaling $290M of Capital

Rhea-AI Summary

Hamilton Lane announces final closing of Hamilton Lane National Small Business Credit Fund and Hamilton Lane New York SBIC Fund II.

Positive

• Hamilton Lane successfully raised two new SBIC offerings, demonstrating the strength of their platform and clients' conviction in their ability to execute small business transactions.
• The Funds total $290 million in size, with commitments from leading institutional investors across the United States.
• The Funds focus on providing loans to lower middle market businesses with EBITDA ranging from $3 to $25 million.
• Hamilton Lane's broadened investment mandate aims to bring meaningful growth and impact to small businesses in New York State and across the country.

Negative

• None.

• Represents Continued Expansion of SBIC Offerings to Provide Funding to Companies and Regions Across the United States

CONSHOHOCKEN, Pa., Oct. 16, 2023 /PRNewswire/ -- Leading private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced the final closing of Hamilton Lane National Small Business Credit Fund, L.P. and Hamilton Lane New York SBIC Fund II, L.P. (or "the Funds"). Together, the Funds total $290 million in size,* with commitments from leading institutional investors across the United States.

Hamilton Lane launched New York SBIC Fund I in 2015, with the goal of identifying opportunities to strategically deploy capital to help drive development and advance small businesses in New York State. Building on the success of the firm's first SBIC offering, the Funds were launched in 2022. These offerings seek to follow a consistent strategy and structure, focusing on providing loans to lower middle market businesses with EBITDA ranging from $3 to $25 million.   

Hamilton Lane is hopeful that this broadened investment mandate will continue to see similarly attractive opportunities across expanded regions. The Funds are part of the firm's existing credit platform, which has more than a 22-year long history of investing in direct credit and boasts a robust network of sponsor relationships. 

Dave Helgerson, Managing Director, Direct Equity Investments at Hamilton Lane, said: "Successfully raising two new SBIC offerings demonstrates the strength of our platform and our clients' conviction in our ability to execute small business transactions. With the support of our partners, we plan to strategically deploy capital from the Funds and hope to bring meaningful growth and impact to small businesses in New York State and across the country."

Trevor Messerly, Managing Director, Direct Credit Investments at Hamilton Lane, commented: "The Funds mark another significant milestone in the development of our SBIC offerings and build on the success of Hamilton Lane's broader private credit platform. We seek to leverage our size and scale to source investment opportunities from a diversified pool of established equity and credit managers, intermediaries and independent sponsors to support small businesses. Amidst a tighter lending environment for businesses of this size, our SBIC platform is uniquely positioned to provide funding to companies and regions that would otherwise have limited access to private capital."

*This includes capital committed to the funds as well as confirmed and anticipated SBA leverage issued to the fund for investments.

ABOUT HAMILTON LANE

Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs over 600 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has nearly $818 billion in assets under management and supervision, composed of $117 billion in discretionary assets and approximately $701 billion in non-discretionary assets, as of June 30, 2023. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/

View original content:https://www.prnewswire.com/news-releases/hamilton-lane-closes-on-national-and-new-york-focused-small-business-credit-funds-totaling-290m-of-capital-301957030.html

SOURCE Hamilton Lane

FAQ

What is the size of the Funds?

The Funds total $290 million in size.

What types of businesses do the Funds provide loans to?

The Funds focus on providing loans to lower middle market businesses with EBITDA ranging from $3 to $25 million.

What is Hamilton Lane's investment strategy with the Funds?

Hamilton Lane aims to bring meaningful growth and impact to small businesses in New York State and across the country.

Who are the investors in the Funds?

The Funds have commitments from leading institutional investors across the United States.

What is the purpose of the SBIC platform?

The SBIC platform provides funding to companies and regions that would otherwise have limited access to private capital.