Subscribe in a reader
Subscribe to Philadelphia Tech News by Email
Put on the shades 😎 @hamilton_lane is celebrating their #IPO in #TimesSquare! $HLNE 🔔🎉 pic.twitter.com/RMRGwnFbhI— Nasdaq (@NASDAQ) March 3, 2017
Bala Cynwyd-based Hamilton Lane rang the opening bell at the Nasdaq this morning.
Hamilton Lane made its initial public offering of 11,875,000 shares at a public offering price of $16.00 per share, adding to the list of major publicly traded Philly-area companies. The shares began trading on the Nasdaq Global Select Market on March 1, 2017 under the ticker symbol “HLNE”.
The offering raised $200 million, and HLNE ended its first trading day up 12.6%. It closed Friday at $18.72.
Founded in 1991, Hamilton Lane is an alternative asset manager with $332 billion under management or supervision. Its investment approach benefits from its global private markets platform, and the Hamilton Lane Fund Investment Database, which includes more than 2,600 active funds representing over 1,000 managers and spanning more than 30 years.
Its a tech company as well. In late 2016, Hamilton Lane announced an investment in and strategic partnership with Bison (Boston Illiquid Securities Offering Network, Inc.), a company focused on creating innovative analytical systems for the private markets industry.
This timeline on Hamilton Lane's website gives a good sense of its history.
Leslie A. Brun was the founder, and Mario Giannini is the current CEO.
In 2015, Hamilton Lane bought back a significant stake in the company owned by Cascade Investment, LLC, the personal investment arm of Bill and Melinda Gates.