Private markets investment manager HamiltonLane has launched two new ‘evergreen’ infrastructure funds, open to institutional and accredited retail investors.
The Hamilton Lane Global Private Infrastructure Fund (HLGPI) is available to investors in EMEA, Australia, Canada, Latin America and Southeast Asia.
The Hamilton Lane Private Infrastructure Fund (HLPIF) is a continuously offered closed-ended investment vehicle available to US investors and managers.
HLGPI and HLPIF are total return strategies, targeting both capital appreciation and income, designed to provide exposure to an institutional-quality, global portfolio of infrastructure assets. With a focus on identifying and capturing strategic opportunities in the infrastructure sector, including direct co-investment and secondary investments, the funds aim to deliver attractive returns and downside protection, paired with liquidity in the form of monthly or quarterly redemptions.
Hamilton Lane’s head of infrastructure investment, Dominik von Scheven, said the funds will target small to mid-cap infrastructure investments with en enterprise value of up to $2.5bn (€2.3bn).
Von Scheven said: “We are looking for a net IRR return of 10% to 12%, with a yield profile of 3% to 5%, so we need to have strong visibility on cash flows. And we’re also looking for assets that have a have a dominant position in its their respective markets.”
he added that the funds will focus on core-plus and value-add infrastructure assets “that share the traditional characteristics of infrastructure, including high barriers to entry and durable cash flows through contracted revenue streams”. Both HLGPI and HLPIF seek to capitalise on “unique opportunities” across the power, transportation, data and telecommunications, environmental and energy sectors, he added.
Brent Burnett, head of infrastructure and real assets at Hamilton Lane, said: “We are thrilled to announce the launch of HLGPI and HLPIF. Infrastructure is one of the fastest-growing asset classes in the private markets space, underpinned by the fundamentally infrastructure-enabled themes of energy transition and the continued rollout of AI which we believe will continue to create investment opportunities for years to come.”
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