Private markets firm, Hamilton Lane, and life insurer, Guardian, have announced a long-term strategic partnership.
Through this partnership, Hamilton Lane will manage Guardian's existing private equity portfolio of nearly $5bn. Guardian will also commit to invest approximately $500m per year in private equity for the next 10 years through Hamilton Lane. This commitment maintains Guardian's typical annual contribution to the asset class and supports its general account target allocation goals. This will include $250m in seed capital for tactical new Evergreen initiatives to support the continued growth of Hamilton Lane's Global Evergreen Platform.
Hamilton Lane will also partner with Guardian's dually registered broker-dealer and registered investment adviser, Park Avenue Securities (PAS), to deliver investment solutions and provide strategic support and education to PAS clients. PAS has over 2,400 advisers, covering approximately $58.5bn of client AuM.
Erik Hirsch, co-CEO at Hamilton Lane, commented: "We are excited to announce this strategic and innovative partnership with Guardian, a firm that embodies our values of putting our clients' needs first and long-term commitment to delivering high-quality solutions to those we serve. This partnership is a testament to the strength of our insurance solutions platform and the trust we've built with leading institutional investors."