James Martin

In 2026, private wealth investors plan to increase allocations to private market investments, according to insights from 390 advisors surveyed in leading global private markets firm Hamilton Lane’s (Nasdaq: HLNE) 2026 Global Private Wealth Survey.

Private Markets Allocations on the Rise

The survey found that 86% of private wealth professionals plan to increase private market investments this year, with portfolio optimisation being the top motivator. Currently, 97% of private wealth professionals surveyed allocate between 1–20% of their book of business to private markets, and the majority expect those allocations to grow in 2026. Within this allocation, respondents reported an even spread across private markets strategies, with Private Equity at 19%, Private Real Estate at 18%, Private Credit at 16%, Venture Capital & Growth at 16% and Private Infrastructure at 15%.

In terms of what drives client interest, advisors ranked performance and diversification as the top reasons for investing in private markets.

Risk vs. Reward

Despite common misconceptions, the survey findings show that most private wealth clients do not see private markets as riskier than public markets. In fact, 83% of respondents view private market risk/reward as similar, or view the reward as higher compared to public markets, reinforcing confidence in these strategies.

Growing Interest in Venture Capital

While respondents’ allocations today are fairly evenly spread across strategies, Venture Capital & Growth emerged as a favourite among respondents for 2026, with 47% planning to increase allocations to this strategy. Further, when asked which strategies resonate most with new, highly engaged investors, more than half pointed to Venture Capital & Growth.

Additional global key findings:

• Education continues to be important, with 81% of wealth professionals reporting that client education significantly boosts interest in private markets, underscoring the importance of addressing knowledge gaps, particularly at the product level.
• Entry points into private markets tend to start with Private Equity and Venture Capital & Growth.
• Forty-six percent of respondents named Infrastructure as the strategy to which they plan to increase allocation in 2026, just behind Venture Capital & Growth (at 47%).

James Martin, Head of Global Client Solutions at Hamilton Lane, commented: “The survey results point to the increasingly important role private markets play within wealth management portfolios, due to the portfolio optimisation and diversification benefits these investments can provide. Across our own client base and in the survey results, we see investors and their wealth advisors becoming more sophisticated around assessing risk/reward tradeoffs and recognising the strong link between education and interest in the asset class.”

Scott Thomas, Head of Private Wealth Solutions for Australia at Hamilton Lane, added: “This year highlighted a shift among private wealth investors and their advisors toward building more resilient portfolios, and the findings reflect what we’re hearing in the market today: private markets are viewed through a more nuanced risk‑reward lens than in the past. As we look across strategies, Venture Capital & Growth stands out as investors seek access to innovative, high-growth private companies, many of which are not available in the public markets.”

Today, Hamilton Lane’s Evergreen Platform serves thousands of advisors, offers 11 evergreen funds and manages $15B AUM*. For more information on Hamilton Lane’s Private Wealth business, click here. To view the full report and findings, click here.

Survey Methodology

The online survey was conducted in partnership with Wakefield Research between October 23 and November 4, 2025. The 390 global respondents included private wealth firms, RIAs, family offices and other advisor professionals from the Americas, APAC and EMEA. Hamilton Lane’s affiliation with the survey was not disclosed to respondents.

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*AUM is calculated as the net asset value (NAV) as of November 30, 2025, plus net subscriptions received for the December 1, 2025 dealing date, and is presented in USD millions.

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Matt Pellini

Leading private markets investment firm Hamilton Lane (Nasdaq: HLNE) has announced the launch of the Hamilton Lane Global Venture Capital and Growth Fund (“HLGVG” or “the Fund”), an evergreen investment vehicle focused on growth and venture opportunities in the private markets. The Fund is available to certain high-net-worth investors and their advisors, as well as institutional investors, in parts of Europe, Asia, Latin America and the Middle East, as well as in Australia, New Zealand and Canada.

HLGVG offers investors access to the firm’s global venture capital investment platform, which seeks to deliver strong performance by investing in disruptive technologies and innovative businesses. The Fund leverages Hamilton Lane’s deep expertise in private markets co-investments and secondaries to access compelling deal flow. Structured as an evergreen vehicle, the portfolio is diversified across vintage year, transaction type, manager, strategy and geography.

With a focus on innovation, diversification and institutional-quality assets, the Fund seeks to address common barriers to entry in this dynamic space. It follows the launch of the firm’s venture evergreen fund in the U.S. earlier this year. The Fund seeks to leverage Hamilton Lane’s use of proprietary data, technology, and AI to support decision making and operational excellence. Hamilton Lane’s track record of driving digital transformation within the industry, now under its HL Innovations initiative, includes strategic balance sheet investments in transformational investment technology, the development of its proprietary Cobalt platform and more.

Matthew Pellini, Co-Head of Venture Capital and Growth Equity at Hamilton Lane, commented: “With companies choosing to stay private for longer, many of the most attractive investment opportunities today can only be found in the private markets, an important segment of which is the venture and growth space. By capitalising on disruptive innovations in established and emerging market segments, the HLGVG portfolio aims to offer an edge in adaptation to new technological advancements, like AI as it drives a wave of growth in tech businesses.”

“After launching our first evergreen fund in 2019, we continue to expand the strategies available to our investors around the world. We believe these structures will play an increasingly important role in many sophisticated investors’ portfolios. Our launch of HLGVG, one of the few venture-focused evergreen products globally, allows clients to participate in the most inaccessible part of the private markets,” said James Martin, Head of Global Client Solutions at Hamilton Lane.

Hamilton Lane has been active in the venture and growth equity space for nearly three decades. Within the venture and growth equity space, the firm has over 260 established relationships spanning more than 370 investments, with a total of $117.8 billion in assets under management and supervision(2). HLGVG leverages the firm’s depth of experience in this space with the aim of offering access to what the firm believes to be high-quality venture capital and growth equity market opportunities.

HLGVG is the latest addition to Hamilton Lane’s broader $13 billion+ AUM^[1] Evergreen Platform.

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Notes:
[1] As of 7/31/25
[2] Inclusive of $13.9B in discretionary assets under management and $103.9B in non-discretionary assets under management as of 12/31/24

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The strategic hires bolster the growth plans for TWC since launching in September 2024. The group is actively leveraging a differentiated lifecycle investment approach in Australia alongside a proprietary technology platform to enhance decision-making and investor outcomes.

Owen Hereford, CEO of TWC, said: “TWC was founded on the belief that a more transparent and structured investment approach – one that considers and measures the full lifecycle of market opportunities – can deliver superior long-term outcomes.

“Stephen and James’ combined expertise aligns with this philosophy, bringing a wealth of institutional experience and a shared vision for innovation and strong fiduciary oversight.

“Their experience and skills will be instrumental to support our next phase of growth.”

Stephen Thompson – strengthening governance and risk oversight

A respected figure in Australian funds management, Stephen brings over 40 years’ experience in investment governance, risk and portfolio management.

He played a pivotal role in scaling Cooper Investors from A$50 million to A$13 billion in AUM over two decades as a Founding Director, leading risk, compliance and ESG integration to ensure resilience across market cycles.

Before joining Cooper Investors in 2002, Stephen was Director of Equities at Equitilink (now Aberdeen Asset Management) and began his career in fixed income and cash markets at the State Electricity Commission of Victoria.

At TWC, Stephen will oversee risk frameworks, regulatory compliance and operational integrity, reinforcing the firm’s dedication to transparency, accountability and investor confidence.

Stephen Thompson said: “TWC’s lifecycle-driven approach to investing is a compelling framework for identifying value across market cycles.

“I’m looking forward to applying my experience in risk governance and compliance to support the firm’s growth and ensure we continue to deliver disciplined, high-integrity investment solutions.”

James Martin – driving technological innovation

A specialist in financial services technology and digital transformation, James Martin has built a career solving complex business challenges in institutional investment and financial services.

James began his career at PwC, quickly advancing into managerial roles before taking on senior positions in New Zealand Government Ministries. He later founded Mission Intelligence, a consultancy delivering data-driven, cost-effective solutions for financial services firms. He holds a Master’s in Applied Finance and Economics.

At TWC, James will enhance its proprietary technology platform, integrating advanced data analytics and strategic foresight to refine investment processes and generate new investor insights.

James Martin said: “Technology plays a crucial role in empowering investors with better insights and more effective capital allocation. I’m excited to expand TWC’s existing capabilities and help drive innovation to ultimately enhance investor outcomes.”

Positioning TWC for scalable growth

TWC is asserting its credentials in assembling a leadership team that blends institutional pedigree, technological innovation and an evidence-based investment methodology.

This is against a backdrop of active asset managers facing increasing pressure to deliver alpha in volatile markets, and top-tier talent gravitating toward firms with differentiated investment strategies.

“Bringing Stephen and James on board reflects the calibre of leadership we’re attracting at TWC,” said Owen Hereford.

“Stephen’s investment philosophy aligns with TWC’s lifecycle-driven approach, embodied in our proprietary Real Return on Investment (RROI) framework  – which evaluates companies through an industrial lifecycle lens.

“This approach reinforces the firm’s commitment to disciplined, risk-aware capital allocation. Likewise, James’ expertise in leveraging technology will play a critical role in strengthening TWC’s proprietary platform, enhancing data-driven investment decision-making and operational efficiency.

“We have in place an accomplished team to support our growth backed by leading technology and a disciplined investment approach to deliver long-term value to investors.”

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The recently launched Global Private Assets Fund (AUD) (“GPA Fund” or “the Fund”) has already received more than $134 million AUD in inflows to date from HNW investors.

Principal and Australian Country Head James Martin said the firm has been encouraged by strong investor interest, as the GPA Fund aims to meet a unique market need for local investors.

“Traditionally, there have been very few options for high-net-worth investors to access the private markets,” Mr Martin said.

“In today’s low-rate environment, investors are seeking competitive returns at both an individual and institutional level, and are increasingly interested in alternative, high-performing assets. We believe the GPA Fund fills this gap and allows Australian investors greater diversification and access to private assets which have historically been less correlated to the public equity markets.”

A unique investment offering

The GPA Fund allows Australian wholesale and HNW investors access to traditionally high-performing private markets through an Australian Unit Trust with a minimum investment of $25,000 AUD.

The Fund focuses on secondary and direct private equity and credit, across industries, investment types, strategies and geographies, allowing investors to access a diverse portfolio through a single allocation.

While private equity has traditionally been an illiquid asset class, the Fund’s structure provides investors with limited liquidity, through monthly applications and redemptions, while maintaining exposure to global private markets.

“The GPA Fund is one of the first offerings of its kind in the Australian market,” Mr Martin said. “The Fund enables us to provide an innovative way for investors to access the private markets outside of traditional, closed-end fund structures.

“We have managed highly tailored accounts, including co-investing with some of Australia’s largest industry super funds, and the GPA Fund introduces a new structure into our global product suite,” Mr Martin added.

Mario Giannini, CEO of Hamilton Lane, commented: “Hamilton Lane has nearly three decades of experience working with some of the largest and most sophisticated private markets investors around the world. Through this new GPA Fund we are able to offer a differentiated product that is now accessible to high-net-worth investors in Australia.”

Hamilton Lane has also focused on growing its local team with its most recent appointment of Principal Anastasia Di Carlo, further demonstrating its commitment to the Australian market.

Di Carlo is based in the firm’s Sydney office and is focused on client relations, including portfolio construction and strategic planning, as well as working with Hamilton Lane’s investment team for coverage of Australian private capital managers.

She has more than 12 years of experience in private capital globally, across Australia, Europe and the U.S. Prior to joining Hamilton Lane, Di Carlo was an Associate Director in the Investment team at Quentin Ayers, an Australian adviser on global private capital portfolios. She began her career at the European Investment Fund (EIF), based in Luxembourg, where she held roles in both the Private Equity Risk Management and Investment teams.

“Anastasia’s deep knowledge of private markets will be valuable as we look to build relationships with new investors and seek investment opportunities in the region,” Mr Martin said.

“The private markets in Australia continue to grow in size and importance within the global landscape and for institutional and retail investors alike, so we’re pleased to have Anastasia on board to support our growing client base as well as our investment efforts in Australia.”

In Australia, Hamilton Lane plans to continue to grow thoughtfully and strategically in this important region. Globally, the firm has approximately 375 employees across 16 offices and manages about USD $473 billion in assets under management and supervision as of June 30, 2019.

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