Life begins at 40: The rise of 40 Act Funds

Complex ’40 Act’ funds help democratize PE.

Alex Lynn brings us this deep dive into the state of the 40 Act fund market, which allows funds to raise non-institutional capital, with a deeper look into Hamilton Lane’s recent offering.

The idea of retail money in private equity is picking up steam. Partners Group recently told Private Funds CFO that they’re seeing a lot of interest in the 401(k) market. And on Monday, Fidelity International announced it was taking a minority stake in alternatives platform Moonfare, opening up the door for plans it has to expand its offering in private markets.

Email prepared by Graham Bippart