Hamilton Lane Alliance Holdings I, a blank check company formed by Hamilton Lane, raised $240 million by offering 24 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. The Bala Cynwyd, PA-based company had originally filed to raise $200 million.
The company is led by Chairman Hartley Rogers, Chairman of Hamilton Lane Inc. and a Managing Director at Hamilton Lane Advisors; CEO and Director Andrea Kramer, a Managing Director at Hamilton Lane Advisors; and CFO Atul Varma, who serves as CFO of Hamilton Lane Advisors and previously served as Head of Business Strategy at BNY Mellon Wealth Management.
Sponsor Hamilton Lane (Nasdaq: HLNE), an alternative asset manager, went public in 2017 and has delivered an annualized return of 53% from its offer price. Hamilton Lane Alliance Holdings I may pursue acquisitions in any industry or geography, but intends to avoid companies in highly cyclical sectors such as upstream and midstream energy, commodities, and/or real estate.
Hamilton Lane Alliance Holdings I plans to list on the Nasdaq under the symbol HLAHU. J.P. Morgan and Morgan Stanley acted as lead managers on the deal.
