Hamilton Lane Approved by Nevada Capital Investment Corporation and Nevada Board of Examiners to Manage Silver State Opportunity Fund

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Sep 04, 2012, 08:30 ET

BALA CYNWYD, Pa., Sept. 4, 2012 /PRNewswire/ -- Hamilton Lane, an independent financial institution that provides discretionary and non-discretionary private-equity asset management to sophisticated investors, today announced that it has been officially approved by the Nevada Capital Investment Corporation (NCIC) and the Nevada Board of Examiners to manage its Silver State Opportunity Fund, which through its investments will help to increase economic development and employment in the state.

As part of the mandate, Hamilton Lane will be responsible for evaluating and selecting venture capital and private equity funds that will invest in Nevada companies, and will also be investing directly into Nevada businesses as a co-investor. Hamilton Lane will have complete discretionary authority based on sound investment and return criteria.

The firm will open an office in Las Vegas, Nevada, to be managed by Vice President Miguel Luina.

"We are honored to have been approved by NCIC and the Nevada Board of Examiners to manage the Silver State Opportunity Fund," said David Helgerson, Managing Director at Hamilton Lane. "We have managed several successful and sustainable in-state private equity programs in Idaho, New York, Florida and California, all of which have generated positive returns and made a significant impact on regions needing capital. We look forward to drawing on that experience to drive further private capital investment to the state of Nevada."

The Hamilton Lane team will also be responsible for developing an investment plan; selecting private equity funds that will invest in Nevada businesses; identifying and evaluating direct co-investment opportunities in Nevada companies; providing mentoring and networking opportunities for Nevada entrepreneurs; and developing a collaborative partnership between Nevada System of Higher Education institutions, investors and private industry.

"We are pleased to have Hamilton Lane here in Nevada. The selection of Hamilton Lane by the board was based in part on their outstanding track record and stated commitment to assisting the NCIC in our mission of generating higher investment returns for Nevada K-12 schools, while at the same time increasing economic development and employment in Nevada," said Kate Marshall, Chair of the Nevada Capital Investment Corporation Board of Directors. "During the investment process, Hamilton Lane clearly demonstrated its ability to build a successful and sustainable private equity program in Nevada, which is critically important to Nevada's economy."

About Hamilton Lane

Hamilton Lane is an independent financial institution that provides discretionary and non-discretionary private equity asset management services to sophisticated investors worldwide. With offices in several U.S. cities, London, Hong Kong, Rio de Janeiro, Tel Aviv, Tokyo and Singapore, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private equity asset class on a global and customized basis.

Founded in 1991, Hamilton Lane now has 170 employees and more than $163 billion in total assets under management and supervision, with approximately half of the client base in the U.S. and half overseas.

About NCIC

The primary purpose of the Nevada Capital Investment Corporation is to identify and invest in new businesses located in Nevada, businesses looking to expand in Nevada, or businesses seeking to relocate in Nevada utilizing the "prudent investor" standard through the services of a professional fund manager whose investment objectives must promote greater returns for the state's Permanent School Fund and secondarily increase economic development and employment in Nevada.

For more information about the Nevada Capital Investment Corporation, go to NevadaTreasurer.gov, and then click on the NCIC link in the top navigation bar.

SOURCE Hamilton Lane