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Dry Powder: The Private Equity Podcast

Shock Absorbers with Hamilton Lane’s Jim Strang

Jim Strang, managing director of Hamilton Lane, makes the case for a resilient industry.

Podcast

Shock Absorbers with Hamilton Lane’s Jim Strang
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I often turn to Jim Strang, the managing director and chairman of EMEA at Hamilton Lane, for his fresh, occasionally contrarian takes on the private equity industry.

Take for instance, the question of how to put an economic downturn into perspective. It was, by survey, the No. 2 concern of the private equity industry this year—and that was before anyone had heard of novel coronavirus. Jim, however, is unfazed.

“We know this asset class is actually very good at protecting value,” Jim told me on the most recent episode of Dry Powder. “If we go through some sort of event where the world shakes and public market volatility spikes and all sorts of crazy things happen, the great thing about private markets is it’s the only asset class in the world where the insiders make the liquidity decisions.”

This habit of bucking conventional wisdom is one reason I asked Jim to sit down for an interview about the prospects of the industry as it passes through this turbulent time and beyond. Macro shocks notwithstanding, Jim says, the PE industry has ample room for growth. “It feels like a big old industry,” he said. “Let’s call it $6 trillion, but the public bond and equity market is something like $180 trillion. We’re six.”

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