Private markets opening up

Hamilton Lane has opened two private-markets funds to a wider pool of investors through interval-fund structures with lower minimums and periodic cash-outs. (hamiltonlane.com) The firm said on April 22 that it launched the Hamilton Lane Credit Income Fund and converted the Hamilton Lane Private Infrastructure Fund into interval funds for U.S. institutional and private-wealth investors. Both funds offer daily net asset value pricing, 1099 tax reporting, quarterly limited liquidity, and minimums as low as $2,500 in some share classes. (hamiltonlane.com) Hamilton Lane said its Credit Income Fund had already gathered more than $350 million in commitments by April 20, less than a month after the fund was declared effective by the U.S. Securities and Exchange Commission on March 24. The credit fund invests in middle-market senior loans sourced through Hamilton Lane’s multi-manager platform. (hamiltonlane.com, hamiltonlane.com) An interval fund is a registered fund that sells shares continuously but only buys some of them back on set dates, usually each quarter. That structure gives individual investors a way into assets such as private credit and infrastructure without the long lockups common in traditional private-market funds. (hamiltonlane.com, hamiltonlane.com) Hamilton Lane is building on a broader push into evergreen products, which are designed to stay open to new money instead of closing after a fundraising period. The firm said in March that the Credit Income Fund would be the 12th fund on its Evergreen Platform, which serves thousands of advisers and manages $16 billion in assets under management. (hamiltonlane.com) The infrastructure vehicle started in October 2024 and will keep its strategy of co-investments and secondaries after the conversion. Hamilton Lane said the fund targets middle-market deals across telecommunications, transportation, power and energy, environmental services, and renewables. (hamiltonlane.com, msn.com) Hamilton Lane also tied the infrastructure fund to its March 17 strategic investment in Republic, saying the fund is now available in tokenized form on Republic’s digital investment platform. That adds another route for smaller investors to buy into a strategy that was previously harder to access. (hamiltonlane.com, hamiltonlane.com) For wealth managers, the practical change is not just access but packaging: daily pricing, tax forms used in standard brokerage accounts, and quarterly repurchase offers make private assets look more like familiar fund products. For Hamilton Lane, the expansion adds work across underwriting, fund operations, distribution, and investor relations as more retail and adviser money moves into private markets. (hamiltonlane.com, hamiltonlane.com) The immediate test is whether demand keeps building after the first $350 million. Hamilton Lane’s bet is that private credit and infrastructure can keep moving out of institutional portfolios and into ordinary client accounts, one quarterly liquidity window at a time. (hamiltonlane.com)