Hamilton Lane Closes Nearly $2B Second Infra Opportunities Fund
Hamilton Lane has reached the final closing of its Infrastructure Opportunities Fund II (IOF II), securing $1.5 billion in fund commitments and nearly $400 million in related co-investments, bringing total capital raised to almost $2 billion. The close significantly exceeded the fund’s $1.25 billion target and makes IOF II more than three times the size of its predecessor.
The fund is focused on direct co-investments and secondary opportunities across the global middle-market infrastructure landscape. Demand was broad-based, with a high re-up rate from IOF I investors and more than 30 new limited partners joining the vehicle. Hamilton Lane reported particularly strong growth from Asia and the Middle East, alongside increased participation from investors in the Americas and Europe.
Limited partners span public and private pensions, Taft-Hartley plans, foundations and endowments, private wealth and family offices, insurance companies, and asset managers.
“The megatrends shaping the global economy—including digitization and AI, power delivery, supply chain optimization, and resource efficiency—are fundamentally underpinned by infrastructure,” said Brent Burnett, global head of infrastructure and real assets at Hamilton Lane. “We believe these structural trends create a target-rich landscape for our global mid-market strategy.”
IOF II has already deployed roughly 40% of its capital across 14 investments. The portfolio is diversified by asset type, sector, and geography, incorporating GP-led and LP secondaries as well as non-control direct positions. Investments include Cold-Link Logistics, Flexential, and Dispatch Energy.
Hamilton Lane’s infrastructure platform encompasses nearly 200 GP relationships and represents more than $87 billion in assets under management and supervision as of September 30, 2025. Firmwide, the Conshohocken, Pennsylvania–based manager oversees approximately $1 trillion in assets across discretionary and non-discretionary strategies.