Financial advisor to K2 Hamilton Lane
Hamilton Lane to acquire controlling stake in The Richcourt Group, a leading international Hedge Fund of Funds Management Firm
November 18, 2004 (Bala Cynwyd, PA) - In a major strategic initiative that significantly broadens the range and depth of its asset management products and services, Hamilton Lane, the leading independent private equity asset management firm, today announced that it has agreed to acquire a controlling stake in The Richcourt Group, a top international hedge fund of funds management firm.
On behalf of a distinguished international client base that includes many high net worth individuals, leading families, and institutions, Richcourt manages more than $1.5 billion in hedge fund assets across a variety of investment strategies.
Formed in 1992, the firm is a wholly owned subsidiary of The CITCO Group Limited, as is CITCO Fund Services, the world's largest hedge fund administrator. The CITCO Group will retain a significant stake in Richcourt and continue to be represented on Richcourt's Investment Committee. It is expected that the transaction, financial terms of which were not disclosed, will be completed within 15 days.