Nebraska Investment Council December 12, 2019
We Enrich Lives & Safeguard Futures • Do the right thing • The pursuit of excellence • Integrity, candor • A spirit of competition and collaboration that inspires innovation
Hamilton Lane Overview A global leader in the private markets for 28 years Market Leaders Global $481.5B 16 26 Assets under Offices globally Languages 120 management spoken & supervision 1 Investment Professionals $36B+ 390+ Capital deployed Employees in 2018 2 Aligned $327M+ HLNE Significant 45% Invested alongside our clients Nasdaq listed Employee ownership Women/Minority employees As of September 30, 2019 1 Inclusive of $65.9B in assets under management and $415.7B in assets under supervision as of September 30, 2019. 2 The 2018 capital invested includes all primary commitments for which Hamilton Lane retains a level of discretion and all advisory clients commitments for which Hamilton Lane performed due diligence and made an investment recommendation. The 2018 capital invested also includes all discretionary co/direct investments that closed during 2018 and all discretionary secondary investments with a legal signing date during 2018. Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 3
How We Work With Clients We work with sophisticated investors across the full spectrum of the private markets Product Solutions Custom Solutions Multi-Strategy Funds Secondary Funds Impact Funds Discretionary Co-Investment Funds Credit-Oriented Funds Real Assets Funds Advisory Distribution Management Monitoring & Reporting Technology Solutions Embracing Data & Technology $5.3T+ 4,600+ Fund assets monitored Active fund database 42 60,000+ TM Vintage years Companies As of September 30,2019 Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 4
Monitoring & Reporting We monitor more than $5 trillion in private markets fund level commitments 1 Powered by • End-to-end back office solution, allowing the client to focus on investment activities • Unique system automating the collection, storage, analysis and reporting of data to LPs Customized Data Collection Cash Management Performance Reporting Workflow-driven data collection Transactional data and IRR Quantitative and qualitative • • • for fund performance and calculations performance analysis individual portfolio companies • Cash flow review, distribution • Portfolio diversification • Seamless data transitions and support • Benchmarking 1 As of September 30, 2019 Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 5
Customized Performance Reporting Customized quarterly performance reports provide important details on each investment in the portfolio Portfolio Overview - Summary of portfolio activity, including: • Qualitative and quantitative performance analysis • Portfolio diversification • Benchmarking (internal & external data sources) Investment Report - Detailed compilation of portfolio related reports, including: Sample ClientPortfolio Header GoesHere Subhead GoesHere • Underlying portfolio holdings Fourth Quarter 2016Report • Detailed diversification and quarterly performance analysis Sample Client,Ltd. Performance Summary by Investment Timely Reporting As of December 31,2016 • Flexible structure to meet client needs Quarterly Hamilton Lane Market Commentary and Benchmarking Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 6
Enhanced Transparency Customized Performance Enhanced Technology Data Integrity and Controls Reporting • Customized quarterly reports provide • Highly secure, web-basedsolution • Comprehensive controls at every level important details on client’s portfolio providing 24/7 access to client of portfolio monitoring portfolios • Quantitative and qualitative • Independent SOC-1 (SSAE16) audited performance • Unique system automating the control environment collection, storage, analysis and • Portfolio diversification • More than 50 experienced reporting of data to LPs professionals with finance and/or • Benchmarking • Unparalleled flexibility including accounting background future enhancements allowing for the • Underlying holdings review exchange of data directly between GPs to LPs for dynamic, detailed information sharing • Fully integrated with Excel for ease of Head of Reporting use & Analytics Solutions Vice President DataManager ClientServices Client Header Goes Here Portfolio Quarterly Report Subhead GoesHere Data Entry Portfolio Reporting &Integrity & Analytics Professionals Professionals As of December 31,2018 Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 7
25+ Years of Seamless Transitions Portfolio Transitioning Process Step 1 Step 1 Step 2 tep 2 Step 3 Step 3 Step 4 tep 4 Step 5 Step 5 Introduction and Receipt of Client Initial Data Reconcile and Parallel Plan Data and GP Collection Follow Up Processing Development Outreach • Introduction of HL client • Implement data testing • Client/HL signs off on • HL provides a client • Client data loaded Into team plan transition with list of required iLEVEL data items and • Discuss source and • Gain assurance from • HL to go live with • Establish a data testing historical transactional format of data GPs that HL is included processes alongside plan (cash flows and NAV) on distribution lists the client for parallel • Discuss current • Send GPs the HL detail period processes and systems • Work with client introduction letter and • Client (or appropriate regarding • Schedule training on client communication • Develop transition 3 rd party) provides HL discrepancies and iLEVEL reporting matrix communication plan with data in Excel files missing data platform • Finalize reconciliation and follow-up plan In the past 4 years, we’ve transitioned over 20 client portfolios, representing over 2,500 funds Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 8
Why Are We Different? We are a private markets firm, not a software company • Team of 100+ professionals* interacts directly with clients for superior understanding of their portfolios • Access to 390 Hamilton Lane professionals* with industry contacts and experience We are a full service platform • Act as an extension of client staff • Assist with auditor requests, K1 statements and ad hoc projects • Reconcile between internal accounting, custodian banks and general partners We have a customized, all-inclusive model • All-inclusive model includes customization of service and software based on clients’ needs • Customized monthly and quarterly reporting, daily and weekly accounting summaries As of September 30,2019 Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 9
Scope of Services and Fee Proposal • Cash flow administration and data collection • Detailed and customized quarterly performance reporting Monitoring & • Portfolio benchmarking Reporting • 24/7 access to reporting portal, iLevel Services • Board meetings and presentations • Invite to annual client Summit, Market Overview, and broadly distributed firm research materials Fee • $325K annual fee Proposal • $25K one-time data transition fee Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 10
Appendix
Biography Tara ra Blac ackburn urn, Ma Manag naging ng Di Director rector Tara is a Managing Director at Hamilton Lane, based in the firm’s San Diego office, where she is involved in both the firm’s investment activities and client relationships. She began her private equity career in 1994 and has experience in manager due diligence, portfolio development, account management, and business development. Tara is a member of Hamilton Lane’s Investment Committee and manages a number of the firm’s client relationships. Tara joined Hamilton Lane in 2007 from Pacific Corporate Group where, as a Managing Director, she headed the firm’s global Portfolio Management activities, was an active member of the investment committee, and served on various fund advisory boards on behalf of PCG and its clients. Prior to joining PCG, Tara worked with the media research firm Paul Kagan Associates covering the cable and cellular markets, including the firm’s expansion into Latin America. Tara began her career with Arthur Andersen, where she worked with the litigation consulting division. Tara received a B.A. in Economics from Colorado College Hamilton Lane | Global Leader in the Private Markets Proprietary and Confidential | 12
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