Hamilton Lane to Buy Back Outside Investor Shares From Cascade Investment, LLC

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Jul 13, 2015, 08:00 ET

BALA CYNWYD, Penn., July 13, 2015 /PRNewswire/ -- Hamilton Lane, a leading global private markets asset management firm, today announced that it will buy back 100 percent of Cascade Investment, LLC's ownership position in the firm. This recapitalization will meaningfully expand Hamilton Lane employee ownership, resulting in more than 100 employees controlling the vast majority of the firm's equity.

Cascade is the personal investment arm of Bill Gates, co-founder of Microsoft.

Hamilton Lane entered into a partnership with Cascade in 2003, whereby Cascade acquired a minority stake and joined Hamilton Lane's board of directors. The partnership has been a successful one. Hamilton Lane's business has grown dramatically since 2003 and today the company serves hundreds of investors around the world, while managing and overseeing approximately $225 billion in capital. With its now more than 235 employees across 11 offices, Hamilton Lane ranks as one of the largest asset managers in the private markets.

"We thank Cascade for this relationship and we look forward to remaining strategically aligned," said Hartley Rogers, chairman of Hamilton Lane. "The past 12 years have seen Hamilton Lane grow from a firm of only 40 employees to a true global leader in this asset class."

Added Mario Giannini, chief executive officer of Hamilton Lane: "We are strong believers in the power of broader employee ownership – something all too rare in our industry. We see this transaction as the logical next step in our firm's evolution."

"We want to thank Hamilton Lane for the very successful partnership over the last 12 years," said Michael Larson of Cascade. "While our direct economic interest has come to an end, our partnership has not. We look forward to watching Hamilton Lane continue to grow and thrive."

About Hamilton Lane

Hamilton Lane is an independent alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. The firm has been dedicated to private markets investing for more than two decades and currently has more than 235 employees operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With over $224 billion in total assets under management and supervision¹, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis.

For more information, please visit www.hamiltonlane.com.

¹As of March 31, 2015

SOURCE Hamilton Lane