Tender Offer - Hamilton Lane Private Assets Fund
Form Type: SC TO-I
Filing Date: 2025-05-02
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025038784
Filing Summary: Hamilton Lane Private Assets Fund is initiating a tender offer to purchase shares from shareholders, targeting approximately 5.00% of the Fund's net assets, equating to about $172,030,018 or 10,135,553 shares, based on February 28, 2025 data. The offer is set to close at 11:59 p.m., Eastern Time on June 2, 2025, although extensions may occur at the discretion of the Fund's board. The net asset value for the shares, assessed as of the Valuation Date, will govern the repurchase pricing. Shareholders can tender all or some of their shares and may face a 2.00% early repurchase fee if shares are repurchased within one year of purchase. The initial payment for accepted shares will occur within 65 days following the notice due date, with a promissory note issued articulating the payment terms. The Fund retains the right to adjust the terms of the offer and any accepted tenders will increase the relative ownership percentage of shareholders who do not participate in the offer.
Additional details:
Class Of Securities: Class D, Class I, Class R Shares
Cusip Numbers: 407498302, 407498203, 407498104
Early Repurchase Fee: 2.00%
Form Type: SC TO-I/A
Filing Date: 2025-03-19
Corporate Action: Tender-offer
Type: Update
Accession Number: 000121390025024878
Filing Summary: This document serves as the final amendment to the Issuer Tender Offer Statement (Schedule TO) filed by Hamilton Lane Private Assets Fund. The tender offer was originally published on August 2, 2024, to repurchase shares of beneficial interest in the Fund totaling $113,169,059. Shareholders were required to submit share tenders by 11:59 p.m. Eastern Time on August 30, 2024. The valuation date for the tendered shares was September 30, 2024, with net asset values amounting to $56,834,653.11 for Class I, $286,000.71 for Class D, and $2,397,018.18 for Class R. Payments for shares accepted for purchase were to be made via promissory notes held by UMB Fund Services, Inc. On November 1, 2024, cash payments were wired to shareholders based on the unaudited net asset value of tendered shares, with plans for a contingent Post-Audit Payment to be made after the annual audit in May 2025. This amendment does not change previously reported information.
Additional details:
Tender Offer Amount: 113169059
Deadline For Tendering: 2024-08-30
Valuation Date: 2024-09-30
Net Asset Value Class I: 56834653.11
Net Asset Value Class D: 286000.71
Net Asset Value Class R: 2397018.18
Initial Payment Date: 2024-11-01
Post Audit Payment Due: 2025-05-31
Form Type: SC TO-I/A
Filing Date: 2025-03-19
Corporate Action: Tender-offer
Type: Update
Accession Number: 000121390025024882
Filing Summary: This document is a final amendment to the tender offer statement originally filed on November 5, 2024, by Hamilton Lane Private Assets Fund. The document outlines the results of a tender offer to repurchase shares of beneficial interest in the Fund, amounting to up to $134,720,171. Shareholders had until December 5, 2024, to submit their tenders. The net asset value (NAV) of the shares tendered as of December 31, 2024, was reported as $26,684,895.26 for Class I, $137,172.68 for Class D, and $6,320,188.42 for Class R. Payment to shareholders whose tenders were accepted was made through promissory notes and cash payments wired on February 3, 2025. Shareholders tendering their entire shares were paid at least 90% of their NAV, while others received 100% of their NAV. A contingent payment will be made post-audit in May 2025, adjusted according to the annual audit results.
Additional details:
Shareholders Class I Tenders: 21
Shareholders Class D Tenders: 4
Shareholders Class R Tenders: 5
Shareholders Class I Full Tenders: 43
Shareholders Class D Full Tenders: 1
Shareholders Class R Full Tenders: 29
Payment Date: 2025-02-03
Nav Class I: 26684895.26
Nav Class D: 137172.68
Nav Class R: 6320188.42
Form Type: SC TO-I
Filing Date: 2025-01-31
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025008651
Filing Summary: Hamilton Lane Private Assets Fund is initiating a tender offer to repurchase shares amounting to approximately 5.00% of the Fund's net assets, estimated at about $149,630,463 or roughly 8,866,932 shares. The offer is open for acceptance until 11:59 p.m. Eastern Time on March 3, 2025. Shareholders can tender all or a portion of their shares at their net asset value calculated as of March 31, 2025. The Fund will charge a 2.00% early repurchase fee for shares repurchased within one year of purchase. Shareholders must maintain a minimum balance of $10,000 worth of shares if not all shares are tendered. Payments will occur through a promissory note within 65 days of the initial notice due date, with an initial payment of at least 90% of the estimated value and a final payment contingent upon the annual audit results. The repurchase procedure allows shareholders to withdraw tenders until the offer's expiration date. The offer aims to provide liquidity to shareholders, and its acceptance may have implications on the expense ratios of remaining shares. No extraordinary transactions involving the Fund are planned.
Additional details:
Title Of Class Of Securities: Class D, Class I and Class R Shares
Cusip Number Of Class Of Securities: 407498302, 407498203 and 407498104
Valuation Date: 2025-03-31
Initial Notice Due Date: 2025-03-03
Early Repurchase Fee: 2.00%
Minimum Account Balance: $10,000
Maximum Repurchasable Percentage: 5.00%
Estimated Total Assets: $149,630,463
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