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ALTERNATIVES

Hamilton Lane closes its largest secondary fund at $1.9 billion

Hamilton Lane closed its largest fund ever, the $1.9 billion Hamilton Lane Secondary Fund IV, surpassing its $1.25 billion fundraising target, said Kate McGann, spokeswoman, in an email.

The latest fund is 111% larger than its predecessor fund, Hamilton Lane Secondary Fund III, which closed at its $900 million hard cap in 2013.

Hamilton Lane Secondary Fund IV invests in single funds, subset portfolios and complex structured/direct investments.

Investors include the $4 billion Fresno County (Calif.) Employees' Retirement Association and the $3.2 billion Dallas Employees' Retirement Fund.