Hamilton Lane to make second closing of seventh fund

Fund-of-private-equity-funds specialist Hamilton Lane is on course by the end of this month to make a second closing of its seventh private equity fund of funds at $200 million. The final target amount is $500 million by the first quarter of 2011. Hamilton Lane manages $14 billion in funds of PE funds and managed accounts and advises on a further $70 billion of PE portfolios. This latest fund will have a 10-year tenor and targets returns of about 20% a year. It is a global fund, alt…