The latest mergers and acquisitions in the wealth management and associated space.

Hamilton Lane
US-based private markets investment management firm Hamilton Lane has said that it plans to buy 361 Capital, a Denver-based boutique alternative asset management firm. 

The acquisition aims to expand Hamilton Lane’s private wealth capabilities. The 361 Capital team, led by chairman and CEO Tom Florence and president Josh Vail, will remain in Denver, Colorado, taking Hamilton Lane’s footprint to 18 locations around the world. 

Closing is expected to occur later this quarter and is subject to customary closing conditions. 361 Capital is being represented by Piper Sandler & Company in the transaction. The financial terms were not disclosed.

Hamilton Lane has been pushing into private wealth, having launched the Hamilton Lane Private Asset Fund, a closed-end management investment company, available to qualified US investors.

It launched the Hamilton Lane Global Private Assets Fund in 2019, and is open to high net worth and wholesale investors in Australia and New Zealand, Canada, and parts of Europe, Asia, Latin America and the Middle East. 

“We recognized the strategic opportunity and benefit of making the private markets accessible to a broader universe of investors, and enabling them to gain access to the asset class’s return potential,” Erik Hirsch, vice chairman and head of strategic initiatives at Hamilton Lane, said.

“Through our GPA and PAF Funds, our strong platform and investment expertise, and our proven ability to service a diverse client base, we are committed to reaching, educating and supporting private wealth investors interested in the private markets. Bringing on the experienced and strong team from 361 Capital furthers our ability to deliver on that objective,” he said.