Hamilton Lane Private Infrastructure Fund to Convert to Interval Fund
The board of the Hamilton Lane Private Infrastructure Fund, or HLPIF – a closed-end management investment company and tender offer fund – has formally approved a plan to convert the vehicle into an interval fund, a move designed to enhance the fund’s liquidity structure for its investors.
The transition is expected to be finalized in April 2026, following the U.S. Securities and Exchange Commission filing and effectiveness of a post-effective amendment to the fund’s registration statement.
With these changes, the fund will establish policy to conduct quarterly repurchase offers, a hallmark structure of interval funds that provides investors with predictable, albeit limited, windows to exit their positions.
With the conversion, the fund will continue to offer its shares on a continuous basis at net asset value. While the specific percentage for HLPIF’s quarterly repurchases will be finalized in the coming months, interval funds typically offer to buy back between 5% and 25% of outstanding shares per quarter. Additionally, the fund will remain a closed-end management investment company registered under the ’40 Act.
Launched in early 2025, HLPIF was designed to provide individual investors with access to institutional-quality infrastructure assets, such as data centers, renewable energy projects, and transportation hubs. According to the company, it seeks to provide current income and long-term capital appreciation.
HLPIF strategy, according to the company, is making direct co-investments, equity and debt investments in portfolio companies and secondary investments often alongside an experienced investment sponsor, joint venture partner, operating partner, or other investor, and in all cases seeking to provide global exposure to real assets in the infrastructure sector. The fund invests in infrastructure assets on a global basis across developed and emerging countries, with an emphasis on North America and Western Europe. The fund also invests a portion of its assets in liquid assets, including cash and cash equivalents, liquid fixed income securities and other credit instruments, derivatives, listed investments and other investment companies, including money market funds and exchange traded funds.
At the time of launch, the company reported approximately $123.6 million in assets under management. The conversion to an interval fund aligns with Hamilton Lane’s strategy, which seeks to blend the long-term returns of private markets with the reporting and liquidity features familiar to retail wealth management.
The move comes as Hamilton Lane continues to aggressively expand its private wealth footprint. The firm, which oversees more than $956 billion in total assets as of late 2024, has been a pioneer in using blockchain technology to offer “tokenized” access to its funds, including HLPIF, with minimum investments as low as $500 on certain platforms.
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