Hamilton Lane Co-CEO Erik Hirsch on Retail Investors, Evergreen Funds and Private Markets

On this episode of After Earnings, Ann Berry sits down with Hamilton Lane Co-CEO Erik Hirsch for an in-depth conversation about the future of private markets. They discuss how Hamilton Lane is opening private capital to retail investors, why fund manager selection matters more than thematic bets in today’s environment and how the firm navigates being a publicly traded company.

00:00 – Erik Hirsch Joins

00:38 – AUM vs AUA: How Hamilton Lane Makes Money

02:25 – From Consultant to Asset Manager: Hamilton Lane’s Evolution

03:58 – The Co-Investment Model Explained

06:42 – The Strategic Edge of Scale and Market Insight

08:15 – What’s Working in Private Equity Right Now

09:26 – From Thematic to Manager-Driven Investing

11:08 – Is Private Credit in a Bubble?

12:51 – Inside the Secondary Market Surge

16:33 – Managing a Public Company Focused on Private Assets

18:30 – The Case for Less Frequent Earnings Reporting

20:28 – Democratizing Private Markets for Retail Investors

23:54 – Expanding Retail Access

26:18 – The Trillions in Retail Opportunity

30:55 – Looking Ahead: Tokenization & the Retailization of Private Markets

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