Hamilton Lane shares fall 5.26% intraday after launching a $365 million private secondary fund.

Hamilton Lane Incorporated declined 5.26% intraday, with the company announcing the launch of the Hamilton Lane Global Private Secondary Fund, an evergreen investment vehicle focused on the secondary market. The Fund is available to accredited high-net-worth investors and their advisors, as well as institutional investors, in parts of Europe, the Middle East, Asia and Latin America as well as in Canada. Driven by significant investor demand, the Fund has already reached commencement for more than $365 million in assets under management, nearly doubling the launch target size.