Institutional Demand Builds for Hamilton Lane's Evergreen Suite

Hamilton Lane reported accelerating institutional demand for its evergreen product suite during its recent fiscal Q4 earnings call, with evergreen AUM exceeding $17.5B as of March 31, up 64% year-over-year, and net inflows topping $1B for the quarter. Guardian Life Insurance Company of America committed $250M to the platform during the period, and a Nordic institutional investor previously allocated only to the firm's closed-end funds added a position in its global multi-strategy evergreen vehicle. Institutions now represent over 25% of new capital flowing into Hamilton Lane's evergreens..

In other GP fundraising, StepStone Group held a $2.2B first close for StepStone Secondary Opportunities Fund VI and simultaneously closed its inaugural GP-led secondaries fund at $200M in initial capital, and. Kayne Anderson Capital Advisors' real estate arm closed Kayne Anderson Real Estate Partners VII at $5.12B, well ahead of its original $3B target.

On the allocator side, Japan's Pension Fund Association for Local Government Officials (Chikyoren), which manages $236.2B in assets, selected Marunouchi Infrastructure Corporation and DigitalBridge Investment Management for a domestic infrastructure mandate. The appointment reflects a broader appetite for infrastructure exposure that I Squared Capital's inaugural ISQ OpenInfra Index, a survey of 250 financial advisors active in alternatives, captures in numbers: three quarters of respondents expect clients to increase private infrastructure allocations by 2027, with digital infrastructure – data centers and AI – the top theme driving client interest.

In people news, Pantheon appointed Leif Lindbäck as a partner in its private equity secondaries team, joining from CVC Capital Partners where he served as co-head of TMT Europe. Allan Polack, former CEO of Denmark's PFA Pension, has reportedly been named chairman of the board of APG Asset Management, the Amsterdam-based manager overseeing €601B on behalf of 4.6 million members. And CIFC Asset Management reportedly appointed Mike Martin as MD of investor solutions, focused on expanding relationships with wealth platforms and RIAs, joining from Bridge Investment Group.

Read on for all the day’s fundraising news headlines.

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