Hamilton Lane has raised around half of the $400 million target for its second impact fund, the firm said yesterday. The listed private markets manager has held an interim close on $198 million amid “increased interest in impact investing strategies,” said managing director and co-head of impact, Jackie Rantanen. The fund was launched in April.
According to a statement by Hamilton Lane in July, the vehicle’s $95 million predecessor, Impact Fund I, had made 13 direct investments “in businesses with positive social and environmental themes” and three primary fund commitments.
The press release announcing the launch of the second impact fund does not mention a target, but one source with knowledge of the situation said it plans to raise up to $400 million.