- Reflects Next Stage of Growth for Industry-Leading Private
Markets Investment Management Firm
- Elevates Several Key Professionals, Highlighting Firm's Deep
Reserve of Talent
CONSHOHOCKEN, Pa., July 20, 2023 /PRNewswire/ -- Hamilton Lane
(Nasdaq: HLNE), a leading global private markets investment
management firm, today announced a series of senior leadership
changes designed to position the firm for continued growth and
long-term success on a global scale. The elevation of these key
professionals to take on more expansive roles illustrates the
firm's strong operational foundation, investment expertise and
collaborative, performance-driven culture.
"We are delighted to strengthen Hamilton Lane's leadership team
with a group of long-tenured, experienced professionals who bring
innovative perspectives, strategic insights and a forward-looking,
global mindset to our firm," said Hamilton Lane CEO Mario Giannini. "In recognizing and elevating
this talented group, we are helping to ensure that Hamilton Lane
continues to serve as a valued partner to our clients around the
world, and as a steady engine of transformation and growth within
our asset class."
- Jeffrey Armbrister has been appointed to serve as
Hamilton Lane's Chief Financial Officer, succeeding Atul Varma, who is leaving the firm to pursue
other interests. Varma will continue in his role as CFO until
August 8 and will remain with the
firm as a senior advisor over the next several months to facilitate
an orderly transition. For the last five years, Armbrister has led
the firm's Direct Equity investment business, which earlier this
year closed its latest fund on more than $2
billion of investor commitments. He has been with Hamilton
Lane since 2018 and brings a proven track record of
transaction-based investing and operational experience leading both
investment and finance teams, and working with management teams and
corporate boards to execute strategic initiatives, grow businesses
and solve complex problems.
- Andrew
(Drew) Schardt will become a Vice Chairman of
Hamilton Lane, while retaining his role as Head of Investment
Strategy. In both of these capacities Schardt will continue to
implement executive-level initiatives while maintaining broader
leadership responsibilities across the firm's global investment
platform. Schardt will also step into the role of Head of Direct
Equity, replacing Armbrister. Schardt has held a number of senior
investment positions at Hamilton Lane, including on the Direct
Equity team, where he began his 15-year career at the firm.
- In addition, Hamilton Lane is pleased to announce that,
effective September 5, Ken
Binick will join the firm as Managing Director and Head
of Execution on the Direct Equity team, reporting to Schardt.
Binick, who most recently served as Co-Head of the Co-Investment
business at Portfolio Advisors, brings a distinguished investment
track record and extensive operational, team management and
transactional experience to the Direct Equity team.
- Richard Hope, Hamilton
Lane's Head of EMEA, will assume the additional role of Co-Head of
Investments, alongside Tom Kerr. In
this new capacity, Hope, who is based in London, will take on broad leadership and
management responsibilities across the global investment platform.
Hope joined Hamilton Lane in 2011 and has led the firm's efforts
across Europe, the Middle East and Africa, playing an instrumental role in
advancing Hamilton Lane's geographic expansion and in broadening
its investment activities outside the U.S. Hope's continued
leadership is complementary to those ongoing expansionary
efforts.
- Nayef Perry will assume
sole leadership of the firm's credit business as Head of Direct
Credit, after previously serving as Co-Head alongside Schardt.
Since joining Hamilton Lane in 2013, Perry has been instrumental in
building the firm's credit platform and capabilities, including
management of its 25+ person global Direct Credit team. Most
recently, Perry was a key driver behind the launch of the Senior
Credit Opportunities Fund, an evergreen credit vehicle. His
leadership mandate will include seeking new opportunities to build
on Hamilton Lane's success and continue to expand its credit
platform.
The changes are effective as of August 8,
2023.
The most recent senior leadership changes follow Hamilton Lane's
appointment in May of Andrea
Kramer as Chief Operating Officer. She joined the firm
in 2005 and has significant experience across every facet of the
business, serving as Head of the Fund Investment team, an
Investment Committee member, and on a number of fund advisory
boards. Prior to Hamilton Lane, Kramer worked as a General Partner
at Exelon Capital Partners; as a Senior Business Development
Manager for Philadelphia Gas Works; and as a Fund Manager for Murex
Corporation.
"We wish Atul well on his future endeavors and thank him for his
contributions to our firm," Giannini said. "Today, we remain
focused on growing our organization thoughtfully and strategically,
on staying competitive in an ever-changing environment, and on
continuing to challenge, develop and retain our talented bench of
professionals to help create even greater long-term value for our
clients, investors, shareholders and employees."
ABOUT HAMILTON LANE
Hamilton Lane (Nasdaq: HLNE) is one of the largest private
markets investment firms globally, providing innovative solutions
to institutional and private wealth investors around the world.
Dedicated exclusively to private markets investing for more than 30
years, the firm currently employs approximately 600 professionals
operating in offices throughout North
America, Europe,
Asia Pacific and the Middle East. Hamilton Lane has nearly
$857 billion in assets under
management and supervision, composed of $112
billion in discretionary assets and approximately
$745 billion in non-discretionary
assets, as of March 31, 2023.
Hamilton Lane specializes in building flexible investment programs
that provide clients access to the full spectrum of private markets
strategies, sectors and geographies. For more information, please
visit www.hamiltonlane.com or follow Hamilton Lane on
LinkedIn: https://www.linkedin.com/company/hamilton-lane/.
Forward-Looking Statements
Some of the statements in this release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Words such as "will", "expect", "believe", "estimate",
"continue", "anticipate", "intend", "plan" and similar expressions
are intended to identify these forward-looking statements.
Forward-looking statements discuss management's current
expectations and projections relating to our financial position,
results of operations, plans, objectives, future performance and
business. All forward-looking statements are subject to known and
unknown risks, uncertainties and other important factors that may
cause actual results to be materially different, including risks
relating to: our ability to manage growth, fund performance,
competition in our industry, changes in our regulatory environment
and tax status; market conditions generally; our ability to access
suitable investment opportunities for our clients; our ability to
maintain our fee structure; our ability to attract and retain key
employees; our ability to manage our obligations under our debt
agreements; defaults by clients and third-party investors on their
obligations to fund commitments; our exposure and that of our
clients and investors to the credit risks of financial institutions
at which we and they hold accounts; our ability to comply with
investment guidelines set by our clients; our ability to
successfully integrate acquired businesses with ours; our ability
to manage risks associated with introducing new types of investment
structures, products or services or entering into strategic
partnerships; our ability to manage redemption or repurchase rights
in certain of our funds; our ability to manage, identify and
anticipate risks we face; our ability to manage the effects of
events outside of our control; and our ability to receive
distributions from Hamilton Lane Advisors, L.L.C. to fund our
payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more
information regarding these risks and uncertainties as well as
additional risks that we face, you should refer to the "Risk
Factors" detailed in Part I, Item 1A of our Annual Report on Form
10-K for the fiscal year ended March 31,
2023 and our subsequent reports filed from time to time with
the Securities and Exchange Commission. The forward-looking
statements included in this release are made only as of the date
hereof. We undertake no obligation to update or revise any
forward-looking statement as a result of new information or future
events, except as otherwise required by law.
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SOURCE Hamilton Lane