Hamilton Lane Private Secondary Fund has announced a tender offer to repurchase shares worth approximately $26.6 million, which is about 5% of its net assets as of September 30, 2026. This strategic move is aimed at enhancing shareholder value and managing the company's capital effectively.

The tender offer, disclosed in a recent SEC filing, is set to expire on December 3, 2026. Shareholders will have the opportunity to sell their shares at their net asset value (NAV), which reflects the total assets of the fund minus its liabilities. The NAV per share for the different classes of shares was reported as $18.60 for Class Y, $18.56 for Class I, and $18.20 for Class R as of the valuation date.

Background

Hamilton Lane Private Secondary Fund is a closed-end, non-diversified management investment company organized as a Delaware statutory trust. The fund is registered under the Investment Company Act of 1940 and is primarily focused on providing long-term capital appreciation for its investors. The fund's principal executive office is located in Conshohocken, Pennsylvania, and it operates under the management of Hamilton Lane Advisors, L.L.C.

What the Filing Says

According to the SEC filing (accession number 0001213900-26-115390), the Fund is offering to purchase shares from shareholders at their NAV, calculated as of the valuation date. The filing states, "A Shareholder may tender all of its Shares or some of its Shares," indicating flexibility for investors in their participation.

The filing also details that a 2% early repurchase fee will apply if shares are repurchased within one year of purchase. The Fund reserves the right to adjust the valuation date and may accept additional shares if the offer is oversubscribed.

Impact

This tender offer may significantly affect existing shareholders of Hamilton Lane Private Secondary Fund, providing them with an opportunity to liquidate their investments at a favorable price. Additionally, this move could set a precedent for other funds in the investment management sector, prompting them to consider similar strategies in managing their capital and enhancing shareholder returns.

What's Next

Shareholders interested in participating in the tender offer must submit their shares by 11:59 p.m. Eastern Time on December 3, 2026. The filing does not indicate any further actions or upcoming filings related to this tender offer beyond the established deadline.