Hamilton Lane, Scala Fund Advisory close club fund on $215m

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; the vehicle, Hamilton Lane Large Cap Buyout Club Fund III, will be managed by Hamilton Lane's relationship management team in London.
Scala and Hamilton Lane launched the first edition in 2017, raising $70m from nine LPs and another $111m from 13 LPs for the same strategy in 2018.

The new vehicle was registered in Luxembourg in May this year.

Investors
The LP base is understood to consist of Finnish pension funds, foundations, trade unions and family offices.

Investments
The fund will invest a portion of its capital in secondaries and credit co-investments in order to avoid a dip in returns from the initial J-curve when making primary investments. The first edition of this fund followed a similar strategy, investing $3.7m in Hamilton Lane Secondary Fund IV at the beginning of its investment period.

The new vehicle will target investments in $1bn+ buyout funds in North America and western Europe, with a bias towards the US.

People
Hamilton Lane – Richard Hope (managing director).
Scala Fund Advisory – Jerome Bouix (managing partner); Kimmo Eloranta (director).

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