Hamilton Lane, Scala Fund Advisory close club fund on $70m

Oscar Geen
31 May 2017

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Hamilton Lane and Scala Fund Advisory have raised $70m for a US and European large buyout mandate from nine Finnish institutions and family offices.

The concept of the fund is to allow Finnish institutions to invest in often oversubscribed and inaccessible buyout funds.

The idea was originated by Scala Fund Advisory and the vehicle, Hamilton Lane Large Cap Buyout Club Fund, will be managed by Hamilton Lane's relationship management team in London. Scala and Hamilton Lane expect to launch another similar vehicle in the future.

Investors
The identity of the investors remains undisclosed but a source close to the situation said the fund's backers comprised family offices, corporate and public pension funds, one foundation and one insurance company.

Investments
The fund will invest around 30% of its capital in secondaries in order to avoid a dip in returns from the initial J-curve when making primary investments, and has made one large secondary investment already, according to a source. It will target four to six primary fund investments in $1bn+ funds in the US and western Europe with a 75-25% split in favour of the US.

People
Hamilton Lane – David Planvig (director of business development).
Scala Fund Advisory – Jerome Bouix (managing partner); Kimmo Eloranta (director).