Recommendation Report
Hamilton Lane
The table below represents the net IRR returns in USD
($mm)
Fund
Fund I
Fund II
Fund III
Fund IV
Fund V
Alignment I
Total
Vintage Fund Size
2008
2013
2016
2018
2019
2021
$63
194
375
550
850
900
Georgian Partners
Prior Investment Performance ¹,2
As of 9/30/21
Capital
Drawn
$77.2
233.3
469.9
527.4
543.6
775.1
$2,626.4
Capital
Distributed
December 2021 | Proprietary and Confidential
$158.8
164.9
278.7
128.4
0.0
0.0
$730.8
NAV
DPI
$0.0 2.1x
325.0
0.7x
429.4 0.6x
0.2x
894.5
1,081.2 0.0x
1,047.2 0.0x
$3,777.3 0.3x
TVPI
2.1x
2.1x
1.5x
1.9x
2.0x
1.4x
1.7x
Net
IRR
19.6%
19.1%
14.3%
37.3%
97.3%
43.8%
27.4%
Track Record (cont.)
HL Benchmark
Late-Stage VC & Growth Equity³
As of 6/30/21
Top-Quartile
DPI
2.2x
1.1x
0.8x
0.4x
0.1x
0.0x
TVPI
2.2x
2.1x
2.4x
1.9x
1.5x
1.2x
Net
IRR
20.3%
15.0%
33.5%
40.5%
50.7%
54.0%
1 Cash flows for Funds I and II were provided in CAD and converted to USD using the OANDA spot rate
2 Capital drawn, capital distributed and NAV are calculated from the cash flows of fee-paying limited partners and excludes any cash flows from the General Partner's commitment
3 Benchmark shown represents a blended benchmark of late-stage venture capital and growth equity; benchmarks as of 9/30/21 are not yet available
Executive Summary | General Partner | Investment Strategy | Track Record | ESG | Appendices
PME Benchmark
Nasdaq 100 TR
As of 9/30/21
PME
IRR
16.9%
21.8%
25.3%
33.2%
34.4%
13.2%
24.6%
Georgian Growth Fund VI, LP & Georgian Alignment Fund II, LP | Page 21View entire presentation