Hamilton Lane Global Private Secondary Fund (HLGPS)

HLGPS at a Glance

Hamilton Lane Global Private Secondary Fund (HLGPS) gives professional and well-informed investors outside the US an evergreen route into private equity secondaries. Launched in September 2025 as a Luxembourg SICAV-RAIF, it buys existing LP fund interests and GP-led continuation vehicles, mostly in North American small and mid-market buyout. At 31 July 2026 it held 27 investments across 103 general partners, with a fund size of USD 739 million including August subscriptions. Unlike Hamilton Lane's Private Markets Access ELTIF, it is not open to retail investors and invests only through secondaries.

Secondaries Leadership

Keith Brittain

Co-Head of Secondary Investments

Tom Kerr

Co-Head of Investments, Co-Head of Secondary Investments

Points to weigh. The track record is under one year, and the 10.28% first-month return coincided with the first purchases; Hamilton Lane reports an average closing discount of 17% on the early portfolio, and gains from buying at a discount are not a guide to later years. Costs are layered: a 1.25% management fee, up to 0.85% servicing on Class A, 12.5% carried interest above a 5% hurdle, plus the fees and carry of the underlying fund managers. Liquidity is limited to quarterly windows gated at 5% of NAV, with a 3% charge in the first year and a possible further fee of up to 5%. Valuations rely on manager-reported marks that lag public markets. The base currency is USD, so euro investors carry currency risk unless they use a EUR class. The fund is not available to Dutch private investors.