Hamilton Lane raises $1.3B at first close of seventh secondaries fund

Hamilton Lane has raised roughly $1.3 billion at the first close of its seventh secondaries fund, the firm's largest fund to date. The vehicle will invest across direct secondaries, company-led tender offers, bespoke structured investments, and select primary financings in growth-stage tech companies.

The firm is also in the market with its debut GP-led strategy. It anticipates a first close before the end of 2026.

Secondaries fundraising is running hot. Adams Street recently closed its eighth global secondary fund at $2.7 billion — 35% above target — while other managers continue building dedicated LP-interest and GP-led vehicles.

With exits scarce and distributions slow, investors are turning to secondaries to generate liquidity. Hamilton Lane's record fund, paired with a new GP-led strategy, shows large managers are widening their playbook to capture that demand.