Hamilton Lane rebuilds research team

The US advisory group has hired four new executives following the departure of six of its research team last month to form Franklin Investment.

(PrivateEquityCentral.net) US private equity advisory firm Hamilton Lane Advisors has hired four executives, including a new research chief, after its previous research head and five other executives left to form a new firm.


Earlier this month a group led by Hamilton Lane principal Bradley Adkins departed to found Franklin Investment. The defectors included Hamilton Lane vice presidents Michael Bacine, Karl Hartmann and James McGovern and former Hamilton Lane associates Neil Mowery and Ryan Chowdhury. The exodus took place after Hamilton Lane failed to come to terms with major shareholder Credit Lyonnais about the sale of the bank’s 24.9 per cent stake in February.


Hamilton Lane has appointed Alexander Cheung, a former college economics instructor who has managed technology and science hedge and mutual funds, to succeed Adkins, according to Bloomberg.


Cheung has been named a vice president at Hamilton Lane. He was previously head of research for Long Bow Capital Management, overseeing science and technology hedge funds. A former economics instructor at the University of Pennsylvania, he also managed medical sciences and Internet mutual funds for Monument Funds Group from 1997 to 2000.


Bringing the public-market expertise that Cheung has to the private equity side “is key to taking our firm to the next step,” Erik Hirsch, chief investment officer at Hamilton Lane, told Bloomberg. The firm's research staff will compile and publicly distribute aggregate investment results and trends, he said.


Richard Hoff and Joseph Pavalone have been named associates. Hoff, a former Merrill Lynch executive, worked for General Motors’s asset-management business for four years. Pavalone was a partner at merchant bank Konquer Capital in Philadelphia and spent six years as an economist at the US Department of Labor, where he helped compute the Consumer Price Index.


Hamilton Lane also added Janet Bauman, an attorney with Sidley Austin Brown & Wood in Chicago since 1996, to its legal staff, replacing Hartmann.


Hamilton Lane has 100 clients and $6bn under management. The firm claims to represent a 4.5 per cent share of the global private equity market, based on capital raised in 2000. It also manages a $2.2bn fund-of-funds.