Hamilton Lane, a private markets asset management firm, has held the final close of its new Impact Fund, pulling in over $95m.
The exact figure for the fund was not disclosed.
Hamilton Lane Impact Fund will have a dual focus and will target attractive investment returns and positive social and environmental impact.
It will back companies around the world either through direct or secondary investments. Target sectors include health and wellness, energy and environment, community development, and financial empowerment.
By leveraging its network of GP relationships, the Impact Fund will make buyout, growth, venture and real assets investments, it claims.
The vehicle will primarily invest into developed markets, with the opportunity to impact emerging markets.
Limited partners for the fund include large private pension funds, financial institutions, high-net-worth individuals, endowments and other institutions.
Hamilton Lane managing director and head of product management Jackie Rantanen said, “As impact investing continues to gain attention and traction from all investor types, the private markets industry has responded in kind, helping address some of the world’s most pressing environmental and social challenges, while seeking to generate meaningful returns.”
Earlier in the year, Hamilton Lane raised over $1.7bn for its fourth flagship secondaries fund.
Copyright © 2020 AltAssets