Hamilton Lane boss: Alts firms in ‘sprint mode’ will harm themselves

Erik Hirsch, co-CEO at alternatives firm Hamilton Lane, has warned against firms pushing their private markets products too quickly.

Speaking at Citywire's PAW event in Lucerne, Switzerland, Hirsch acknowledged that distribution had been particularly slow in Europe, and that it would take more than two years to really ramp-up.

'The fund managers that are today in sprint mode, are frankly not doing their franchises any service. They're trying to gobble up capital and they don't have a place to deploy rapidly,' he said, suggesting that a slow and steady approach was more prudent.

'This is an industry where doing anything too fast risks bad investment decisions or bad hiring,' he added.

This video also covers the potential tension between European and US sales teams at private markets firms, and how European investors have been reacting to the redemption wave from evergreen private credit funds in the US.