The New Zealand Superannuation Fund has chosen US-based Hamilton Lane to provide it with advice on private equity strategy and the due diligence of private equity fund managers.
Hamilton Lane was selected following a global search for an advisor and will assist the superannuation fund as it continues to develop its private equity programme, Matt Whineray, the general manager of private markets at New Zealand Superannuation Fund, said in a statement.
The superannuation fund manages assets of NZ$13.1 billion ($8.4 billion; €6 billion) as of 31 May, 2009. Of this amount, 1.1 percent or NZ$146.3 million is invested in the private equity asset class.
In May, it invested NZ$50 million in Direct Capital IV, a New Zealand-focused fund targeting commitments of NZ$250 million. It has also made commitments to funds managed by Adams Street Partners, AMP Pencarrow, Apax Partners, Coller Capital, HarbourVest Partners and Kohlberg Kravis Roberts.
Established in September 2002, New Zealand Superannuation Fund began its investment programme September 2003 with $2.4 billion in cash.
In June, Florida Retirement System’s State Board of Administration (SBA), which manages the state’s $113 billion pension, selected Hamilton Lane to manage a $250 million investment programme focused on commitments in private equity funds that are based in Florida or that operate in Florida, and on direct co-investments in Florida companies.
Hamilton Lane has more than $85 billion in assets under management and supervision. The firm has offices in Philadelphia, San Francisco, London, Singapore, Tel Aviv, San Diego, New York and Tokyo.