The increase was driven by continued strength in the firm's evergreen strategies, notably in AlpInvest and asset-backed finance, according to CFO Justin Plouffe.
One of which, Hamilton Lane Private Secondary Fund, raised its investment capacity by $500 million and saw its NAV climb 1.6x QoQ to $409 million as of March.
The offering provides a platform for the bank's high-net-worth clients to access Carlyle's global private equity strategies, including secondary investment opportunities.