Tuesday, September 07, 2004
Reconnect w/Les Brun at Hamilton Lane
Citco's FoF business sale imminent?
Sep-3-2004 - Hamilton Lane, a leading private equity investor, is reported to be close to acquiring Citco's fund-of-funds business, which has been known as Citco Fund Advisors and Richcourt Fund Advisors.
The transaction is likely to feed recent widespread rumors that Citco, best known as the world's leading fund administrator with some $200 billion under administration, may soon be sold to UBS.
Citco's fund-of-funds operation, which is based in New York, manages and advises some $1.7 billion in "several multi-manager investment vehicles with a wide range of investment objectives and risk profiles," according to Citco's web site; the business is headquartered in New York, with satellite offices in San Francisco and London.
Hamilton Lane is based in Bala Cynwyd, Pennsylvania, a suburb of Philadelphia, and also has an office in London. In December 2003, an investor group headed by Hartley R. Rogers and including Cascade Investments, the family office of Microsoft founder Bill Gates, bought a 40 per cent holding in the firm.
Founded in 1991, it has, according to its web site, initiated more than $26 billion in private equity investments, and currently has around $5 billion under management. Rogers, formerly co-head of the US private equity department of Credit Suisse First Boston and co-head of the $2.7 billion CSFB Equity Partners private equity fund, was named vice chairman; Hamilton Lane's chairman Leslie Brun is its largest single shareholder.
Mario L. Giannini, chief executive officer of Hamilton Lane, declined comment.
A Citco executive also declined comment, but offered to forward an email to people authorized to comment. No response had been received by press-time.
This article originally appeared in MAR/Week Sep-2-2004.
Sep-3-2004 - Hamilton Lane, a leading private equity investor, is reported to be close to acquiring Citco's fund-of-funds business, which has been known as Citco Fund Advisors and Richcourt Fund Advisors.
The transaction is likely to feed recent widespread rumors that Citco, best known as the world's leading fund administrator with some $200 billion under administration, may soon be sold to UBS.
Citco's fund-of-funds operation, which is based in New York, manages and advises some $1.7 billion in "several multi-manager investment vehicles with a wide range of investment objectives and risk profiles," according to Citco's web site; the business is headquartered in New York, with satellite offices in San Francisco and London.
Hamilton Lane is based in Bala Cynwyd, Pennsylvania, a suburb of Philadelphia, and also has an office in London. In December 2003, an investor group headed by Hartley R. Rogers and including Cascade Investments, the family office of Microsoft founder Bill Gates, bought a 40 per cent holding in the firm.
Founded in 1991, it has, according to its web site, initiated more than $26 billion in private equity investments, and currently has around $5 billion under management. Rogers, formerly co-head of the US private equity department of Credit Suisse First Boston and co-head of the $2.7 billion CSFB Equity Partners private equity fund, was named vice chairman; Hamilton Lane's chairman Leslie Brun is its largest single shareholder.
Mario L. Giannini, chief executive officer of Hamilton Lane, declined comment.
A Citco executive also declined comment, but offered to forward an email to people authorized to comment. No response had been received by press-time.
This article originally appeared in MAR/Week Sep-2-2004.
# posted by Tom @ 4:36 AM 
