Hamilton Lane Incorporated completed the acquisition of 361 Capital, LLC from Lighthouse Investment Partners, LLC and Lovell Minnick Equity Partners III, L.P. managed by Lovell Minnick Partners LLC and others.
April 31, 2021
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Hamilton Lane Incorporated (NasdaqGS:HLNE) entered into an asset purchase agreement to acquire 361 Capital, LLC from Lighthouse Investment Partners, LLC and Lovell Minnick Equity Partners III, L.P. managed by Lovell Minnick Partners LLC and others for $13 million on January 28, 2021. The 361 Capital team, led by Chairman and Chief Executive Officer, Tom Florence and President Josh Vail, will remain in Denver. Upon the closing, the investment personnel and other key personnel of 361 Capital will become employees of Hamilton Lane. Transaction is subject to customary closing conditions and expected to be closed later in the current quarter. As of February 2, 2021, the transaction is expected to close during the Hamilton fiscal fourth quarter. As of February 4, 2021, the transaction is expected to close on March 31, 2021. Piper Sandler & Co. acted as financial advisor for 361 Capital, LLC.
Hamilton Lane Incorporated (NasdaqGS:HLNE) completed the acquisition of 361 Capital, LLC from Lighthouse Investment Partners, LLC and Lovell Minnick Equity Partners III, L.P. managed by Lovell Minnick Partners LLC and others on April 1, 2021. In April 2021, Hamilton Lane Incorporated paid $10 million in cash and the remaining $3 million will be paid in two equal installments on the first and second anniversaries of the closing. Hamilton Lane Incorporated's Denver office is led by Managing Director Tom Florence, who previously served as Chief Executive Officer of 361 Capital, with support from Managing Directors Blaine Rollins and Josh Vail.
Hamilton Lane Incorporated is a private market investment management company. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it enables them to access a diversified set of such investment opportunities worldwide. The Company offers a variety of investment solutions to address its clientsâ needs across a range of private markets, including private equity, private credit, real estate, infrastructure, natural resources, growth equity, venture capital and impact. These solutions are constructed from a range of investment types, including primary investments in funds managed by third-party managers, direct investments alongside such funds and acquisitions of secondary stakes in such funds, with a number of its clients utilizing multiple investment types. These solutions are offered in a variety of formats covering some or all phases of the private market's investment program.
Hamilton Lane Incorporated completed the acquisition of 361 Capital, LLC from Lighthouse Investment Partners, LLC and Lovell Minnick Equity Partners III, L.P. managed by Lovell Minnick Partners LLC and others.