Hamilton Lane, an alternative asset manager with $40 billion of AUM, announced terms for its IPO on Thursday.
The Bala Cynwyd, PA-based company plans to raise $190 million by offering 11.9 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Hamilton Lane would command a fully diluted market value of $824 million.
Hamilton Lane was founded in 1991 and booked $174 million in revenue for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol HLNE. J.P. Morgan and Morgan Stanley are the joint bookrunners on the deal. It is expected to price during the week of February 27, 2017.
