Private markets investment firm Hamilton Lane is seeking to raise up to $220 million for its first yuan-denominated fund, which will target discounted Chinese assets and raise capital from onshore investors, including insurers, Bloomberg reported.
Hamilton Lane has previously raised U.S. dollar funds through China’s Qualified Foreign Limited Partner mechanism and converted the proceeds into yuan to invest in domestic assets.
It set up its Shanghai office in 2023 to target RMB-denominated, LP- and GP-led secondary transactions from a discretionary pool of client capital.
If the fundraising pushes through, the firm will join a growing list of global and regional investment firms raising yuan-denominated capital as China seeks to deepen its domestic private capital market.
Earlier this year, real asset manager ESR agreed to establish a 1.6 billion yuan ($235 million) fund with two Chinese insurers to acquire logistics assets, while Luminous Ventures secured more than 5 billion yuan ($733 million) for its latest dual-currency venture funds.
Healthcare-focused CBC Group also held the first close of its inaugural RMB-denominated M&A fund at more than 7 billion yuan ($966 million), targeting 10 billion yuan, while Monolith Management and Source Code Capital have also raised new dual-currency funds focused on China’s technology sector.
Earlier today, Hamilton Lane announced that it has secured $3.8 billion in total commitments for its direct equity strategy in and alongside the final closing of the Hamilton Lane Equity Opportunities Fund VI (EO VI). The prior vintage fund, Hamilton Lane Equity Opportunities Fund V, closed at $2.1 billion.
Founded in 1991, Nasdaq-listed Hamilton Lane manages and supervises about $1 trillion in assets globally, including $141.8 billion in discretionary assets and $905.3 billion in non-discretionary assets as of March 31, 2026.
The firm provides private markets investment solutions across private equity, private credit, infrastructure and real assets for institutional and private wealth investors.
Kerrine Koh, managing director at the firm’s client solutions group, earlier told DealStreetAsia the base of private wealth across the Asia Pacific is broadening quickly, with emerging hubs beyond Singapore and Hong Kong giving asset managers access to a larger pool of capital.
Last year, Hamilton Lane launched Hamilton Lane Global Venture Capital and Growth Fund (HLGVG), an evergreen investment vehicle focused on venture and growth opportunities in private markets.
The fund is open to select high-net-worth investors, their advisors, and institutional investors across Europe, Asia, Latin America, the Middle East, Australia, New Zealand, and Canada.
Hamilton Lane’s investments in Asia include Singapore-based digital wealth manager StashAway and private market exchange ADDX, DealStreetAsia’s DATA VANTAGE shows.
