Hamilton Lane team forms new advisory firm

Hamilton Lane principal Bradley Atkins and five fellow investment professionals have quit the US firm to set up Franklin Investment Advisors.

(PrivateEquityCentral.net) Six investment professionals from private equity advisory firm Hamilton Lane have left to form a new advisory firm called Franklin Investment Advisors.

The group, led by former Hamilton Lane principal Bradley Atkins, announced their departure yesterday and have begun contacting potential clients, according to market sources.

Atkins is the chief executive officer of Franklin Investment. He brings with him former Hamilton Lane vice presidents Michael Bacine, Karl Hartmann and James McGovern and former Hamilton Lane associates Neil Mowery and Ryan Chowdhury.

 

Hamilton Lane, one of the most powerful investment advisors in the private equity industry, was founded in 1991 by its current chairman, Leslie Brun, a former managing director at Fidelity Bank in Philadelphia. Hamilton Lane’s current CEO is Mario Giannini.

 

At Hamilton Lane, Atkins was head of research. He also co-managed the direct and co-investment business and was a member of the firm’s investment committee. The rest of the Franklin Investment team come from Hamilton Lane’s research and due diligence departments.

 

According to a Franklin Investment statement, the firm will focus on “portfolio construction, manager due diligence and selection, performance monitoring, portfolio analytics and valuation services.”

 

“The team joining me…were instrumental in Hamilton Lane’s due diligence and secondary practices…” Atkins said in the statement. “By being employee-owned and focusing exclusively on advisory services, we’re better positioned to serve our clients.”

 

In February, responding to reports, top management of Hamilton Lane announced that it had failed to come to terms with Hamilton Lane shareholder Credit Lyonnais about the sale of the bank’s 24.9 per cent stake. Brun currently owns 40 per cent of the business and Giannini, 14 per cent.

 

In January, Hamilton Lane managing director Marc Bonavitacola left to join private equity fund-of-funds and portfolio advisor Schroder Ventures, based in Boston.

 

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.