Hamilton Lane to Manage Guardian Life’s $5 Billion PE Portfolio

Hamilton Lane Inc. will manage The Guardian Life Insurance Co. of America’s $5 billion buyout portfolio as part of a long-term agreement, marking the latest such partnership as private markets firms and insurers deepen their ties.

Guardian Life is committing about $500 million of private equity investments through Hamilton Lane every year over the next decade as part of the deal, the firms said in a statement Monday. This figure will include about $250 million in seed capital for Hamilton Lane’s Evergreen funds, which target individual investors.

The agreement is expected to be completed by year-end, at which point ...