# EDGAR Filing Document

**Accession Number:** 0001803491
**File Stem:** 0001145549-23-009682
**Filing Date:** 2023-2
**Character Count:** 71296
**Document Hash:** 69368647be8337d15a218d94187a336f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-009682.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001145549-23-009682

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hamilton Lane Private Assets Fund
- **CENTRAL INDEX KEY:** 0001803491
- **IRS NUMBER:** 844697401
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23509
- **FILM NUMBER:** 23664787

**BUSINESS ADDRESS:**
- **STREET 1:** 110 WASHINGTON ST, STE 1300
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2053
- **BUSINESS PHONE:** 610-934-2222

**MAIL ADDRESS:**
- **STREET 1:** 110 WASHINGTON ST, STE 1300
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2053

## Nport-Ex

**Hamilton Lane Private Assets Fund**

**Consolidated Schedule of Investments**

**December 31, 2022 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments - 110.04%†** | **Interest rate** | **Maturity Date** | **Investment Type** | **Acquistion Date** | **Cost** | **Fair Value****** |
| **Direct Investments - 48.38%^** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Direct Credit - 9.39%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America - 9.39%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary - 0.67%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lash OpCo, LLC.<sup>1,2,3</sup> (Principal amount $3,339,615) | Cash 7.00% + LIBOR (1% Floor)<sup>4</sup> | 3/18/2026 | Senior Debt | 12/29/2021 | $3316970 | $3362436<sup>#</sup> |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Containers and Packaging - 1.14%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arctic Holdco, LLC.<sup>1,3</sup> (Principal amount $6,023,391) | Cash 6.00% + LIBOR (1% Floor)<sup>4</sup> | 12/23/2026 | Senior Debt | 5/7/2021 | 5937028 | 5725836<sup>#</sup> |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financials - 1.28%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMLRS Holdings, Inc.<sup>1,2</sup><br> (Principal amount $4,647,877) | Cash 6.00% + LIBOR (1% Floor)<sup>4</sup> | 9/21/2026 | Senior Debt | 9/21/2020 | 4590868 | 4368078<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kestra, Inc.<sup>1,2,3</sup> (Principal amount $2,230,769) | Cash 7.00% + LIBOR (0.5% Floor)<sup>4</sup> | 6/3/2027 | Senior Debt | 12/14/2021 | 2185696 | 2055654<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified Financials** |  |  |  |  |  | 6423732 |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electrical Equipment - 0.13%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventus Power, Inc.<sup>1</sup> (Principal amount $692,308) | Cash 8.50% + LIBOR (1% Floor)<sup>4</sup> | 9/29/2024 | Senior Debt | 3/29/2021 | 685281 | 652569<sup>#</sup> |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 1.28%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teal Acquisition Co., Inc.<sup>1</sup> (Principal amount $637,398) | Cash 6.25% + LIBOR (1% Floor)<sup>4</sup> | 9/22/2026 | Senior Debt | 9/21/2020 | 626674 | 593737<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TNAA Holdco, LLC.<sup>1,2,3</sup> (Principal amount $5,908,809) | Cash 5.50% + LIBOR (1% Floor)<sup>4</sup> | 12/16/2026 | Senior Debt | 12/16/2021 | 5801806 | 5806467<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Health Care** |  |  |  |  |  | 6400204 |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Information Technology - 1.46%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everberg CIS Holdings, LLC.<sup>1,2,3</sup> <br> (Principal amount $576,596) | 10.493%<sup>4</sup> | 4/14/2026 | Initial Term Loan | 4/5/2021 | 505070 | 537429<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everberg SC Holdings III, LLC.<sup>1,2,3</sup> (Principal amount $563,054) | 10.884%<sup>4</sup> | 7/8/2027 | Incremental Term Loan | 7/6/2022 | 559509 | 559372<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everberg SC Holdings IV, LLC.<sup>1,3</sup> <br> (Principal amount $222,264) | SOFR + 12.00% PIK (1.5% Floor)<sup>4</sup> | N/A | Preferred Equity | 7/6/2022 | 222264 | 222264<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GI Consilio Parent, LLC.<sup>1,3</sup> (Principal amount $4,500,000) | Cash 7.50% + LIBOR (0.50% Floor)<sup>4</sup> | 5/14/2029 | Senior Debt | 5/20/2021 | 4455000 | 4500000<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redstone Holdco 2, L.P.<sup>1,3</sup> (Principal amount $3,000,000) | Cash 7.75% + LIBOR (0.75% Floor)<sup>4</sup> | 4/27/2029 | Senior Debt | 5/20/2021 | 2947500 | 1491900<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Information Technology** |  |  |  |  |  | 7310965 |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industrials - 1.53%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Government Services Holding LLC.<sup>1,3</sup> (Principal amount $5,000,000) | Cash 7.50% + SOFR (0.75% Floor)<sup>4</sup> | 2/15/2030 | Senior Debt | 3/7/2022 | 4865507 | 4727000<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gannett Fleming, Inc.\*<sup>1,3</sup> (Principal amount $3,000,000) | Cash 6.50% + SOFR (1.00% Floor)<sup>4</sup> | 12/20/2028 | Unitrance Term Loan | 12/19/2022 | 2939571 | 2939210<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Industrials** |  |  |  |  |  | 7666210 |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 1.16%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alliant Services, Inc.<sup>1</sup> (6,000 Series A Preferred shares) | 9.75% | 12/8/2028 | Preferred Equity | 11/6/2020 | 5949623 | 5823000<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software and Services - 0.74%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Career Step, LLC.<sup>1</sup> (2,593,515 shares) | Cash 9.75% + LIBOR (1% Floor)<sup>4</sup> | Perpetual | Preferred Equity | 11/17/2020 | 2437134 | 2487182<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Packers Software Intermediate Holdings, Inc.<sup>1,2</sup> <br> (843.579 shares, Principal amount $1,302,222) | Cash 7.75% + LIBOR (0.75% Floor)<sup>4</sup> | 11/12/2028 | Preferred Equity | 11/12/2020 | 1286947 | 1219661<sup>#</sup> |
|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Software and services** |  |  |  |  |  | 3706843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Direct Credit** |  |  |  |  | 49312448 | 47071795 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment Type** | **Acquistion Date** | **Cost** | **Fair Value****** |
| &nbsp;&nbsp;&nbsp;**Direct Equity - 38.99%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asia - 2.37%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 2.37%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celestial Key Group, Ltd.\*<sup>1,3,5</sup> <br> (500 Class A shares) | Limited Partnership Interest | 11/26/2021 | 5009408 | 6885729<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indigo, L.P.\*<sup>1,3,5</sup> | Limited Partnership Interest | 6/18/2021 | 4400000 | 5010270<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Health Care** |  |  |  | 11895999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asia** |  |  |  | 11895999 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America - 25.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary - 6.95%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CL DAL Opportunities Feeder, L.P.\*<sup>1,5</sup> | Limited Partnership Interest | 9/9/2020 | 3 | 578260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LUV Car Wash Holdings LLC.\*<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 3/2/2022 | 13103262 | 14227102<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MiddleGround Checker Co-Invest Partners L.P.\*<sup>1,2,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 1/31/2022 | 9664138 | 10850167<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RC V RW Investor-B, LLC\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 10/23/2020 | 7171708 | 9200325<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Consumer Discretionary** |  |  |  | 34855854 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financials - 0.47%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMLRS Equity Investors, L.P.\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 9/21/2020 | 1413356 | 2353270<sup>#</sup> |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 2.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCBlue Limited Partnership\*<sup>1,3,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 5/24/2022 | 7596848 | 6662323<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEA BH SPV II, L.P.\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 9/2/2020 | 5012957 | 477527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teal Parent Holdings, L.P.\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 9/21/2020 | 32520 | 345<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TVG-Hero Holdings II, L.P.\*<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 10/23/2020 | 2257480 | 3560989<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Health Care** |  |  |  | 10701184 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industrial Services - 8.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Einstein 2021, L.P.\*<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 11/18/2021 | 10377807 | 21424039<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KAWP Holdings, L.P.\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 12/18/2020 | 7436323 | 12288068<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oscar Holdings, L.P.\*<sup>1,2,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 4/27/2022 | 7000000 | 8497580<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Industrial Services** |  |  |  | 42209687 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Information Technology - 4.81%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fetch Rewards, Inc.\*<sup>1,3,5</sup> (1,066,460 Series E Preferred shares) | &nbsp;&nbsp;&nbsp;&nbsp;Preferred Equity | 3/23/2022 | 4999970 | 5457324<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Follett Acquisition, L.P.\*<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 1/12/2022 | 8000000 | 9832565<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ignite Resonate Co-Investors, LLC.\*<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 7/27/2022 | 8000000 | 8000000<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T-VIII Skopima Co-Invest, L.P.\*<sup>1,2,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 5/7/2021 | 526014 | 834372<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Information Technology** |  |  |  | 24124261 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors and Equipment - 2.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THL Fund Investors (Altar), L.P.\*<sup>1,2,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 1/27/2022 | 8526551 | 10718735<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software and Services - 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Project Brewer\*<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 11/12/2020 | 810952 | 752447<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total North America** |  |  |  | 125715438 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United Kingdom - 6.63%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 1.89%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panacea Co-Investment, L.P.\*<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 12/21/2020 | 7725535 | 9473568<sup>#</sup> |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 2.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chance Co-Investment, L.P.\*<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 12/21/2020 | 6566015 | 11957035<sup>#</sup> |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software and Services - 2.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bowmark Investment Partnership - J, L.P.\*<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 10/15/2020 | 2583472 | 3066282<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TPG Vardos CI, L.P.\*<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 9/9/2020 | 6009308 | 8763563<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Software and Services** |  |  |  | 11829845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total United Kingdom** |  |  |  | 33260448 |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe - 4.91%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financials - 2.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enak Aggregator, L.P.\*<sup>1,3,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 1/18/2022 | 9652846 | 10410031<sup>#</sup> |
|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industials - 2.83%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSN Capital Unique Co-Investment, L.P.\*<sup>1,3,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Limited Partnership Interest | 3/9/2022 | 11119332 | 14193497<sup>#</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Western Europe** |  |  |  | 24603528 |
| &nbsp;&nbsp;&nbsp;**Total Direct Equity** |  |  | 154995805 | 195475413 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment Type** | **Acquistion Date** | **Cost** | **Fair Value** |
| **Secondary Investments - 48.35%^** |  |  | | |
| &nbsp;&nbsp;&nbsp;**Secondary Direct Equity - 0.76%** |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America - 0.76%** |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Growth Equity - 0.76%** |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Bay - HL, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 9/4/2020 | 2615179 | 3804431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Secondary Direct Equity** |  |  | 2615179 | 3804431 |
| &nbsp;&nbsp;&nbsp;**Secondary Funds - 47.59%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asia - 2.71%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary - 0.73%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L Catterton Asia 3 Continuation Fund Sing, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 6/23/2022 | 3882237 | 3627335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 1.98%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LC Healthcare Continued Fund, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 5/12/2021 | 6672503 | 9925435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asia** |  |  |  | 13552770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Middle East - 3.35%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software and Services - 1.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awz Pentera III, LLC\*<sup>1,3,5</sup> (15 shares) | Common Stock | 12/21/2022 | 3030000 | 7348000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Venture Capital - 1.89%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pitango Continuation Fund 2021, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 11/9/2021 | 7280000 | 9458476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Middle East** |  |  |  | 16806476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America - 39.65%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Corporate Finance/Buyout - 23.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACON Strategic Partners II-B, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 8/2/2022 | 9591994 | 18144637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audax Private Equity Fund IV CF, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 12/23/2020 | 4196849 | 5313394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CLP Select Opportunities, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 12/10/2020 | 8797318 | 11621753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JZHL Secondary Fund, L.P.\*<sup>1,2,5,7</sup> | Limited Partnership Interest | 12/4/2020 | 3186370 | 6531705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kelso Investment Associates IX, L.P.\*<sup>1,2,5,8</sup> | Limited Partnership Interest | 9/30/2022 | 19689285 | 26109763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KPS Special Situations Fund IV, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 9/30/2020 | 1900255 | 2891042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roark Capital Partners CF L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 8/26/2022 | 6015347 | 6848386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TorQuest Partners Fund US IV L.P.\*<sup>1,2,3,5,6</sup> | Limited Partnership Interest | 9/30/2022 | 16706823 | 15151939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trilantic Capital Partners VI Parallel II (North America), L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 12/31/2021 | 5382695 | 7402349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Webster Equity Partners Pinnacle, L.P.\*<sup>1,3,5</sup> | Limited Partnership Interest | 11/18/2021 | 10000000 | 14271767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wind Point Partners VIII-B, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 3/31/2021 | 1122117 | 1867357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Corporate Finance/Buyout** |  |  |  | 116154092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified - 3.91%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resolute II Continuation Fund, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 8/20/2021 | 12424570 | 19587976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Growth Equity - 9.97%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10K Lakes Fund II, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 10/27/2021 | 1814720 | 2013898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everstone Capital Partners III, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 10/15/2020 | 4274709 | 8655445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L Catterton Growth IV L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 3/31/2021 | 6332842 | 7670969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motive IC SAS-A, L.P.\*<sup>1,3,5</sup> | Limited Partnership Interest | 6/28/2021 | 2770067 | 4869269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NewView Capital Special Opportunities Fund I, L.P.\*<sup>1,2,5</sup> | Limited Partnership Interest | 10/23/2020 | 12284769 | 26782868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Growth Equity** |  |  |  | 49992449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Healthcare & Business Services - 1.45%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eversecure PTE. LTD.\*<sup>1,3,5</sup> <br> (5,000,000 Series A Preference shares) | Limited Partnership Interest | 5/4/2022 | 5000000 | 7292387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Information Technology - 1.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZMC II Extended Value Fund, L.P.\*<sup>1,2,3,5</sup> | Limited Partnership Interest | 8/19/2021 | 5179341 | 5775088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total North America** |  |  |  | 198801992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe - 1.88%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Corporate Finance/Buyout - 0.87%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waterland Strategic Opportunities Fund I, C.V.\*<sup>1,2,3,5,6</sup> | Limited Partnership Interest | 4/22/2021 | 3359085 | 4383124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified - 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sagard 3, FCPI\*<sup>1,2,3,5,6</sup> | Limited Partnership Interest | 7/23/2021 | 462843 | 394828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sagard 4, FCPI\*<sup>1,2,3,5,6</sup> | Limited Partnership Interest | 9/3/2021 | 136939 | 136728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified** |  |  |  | 531556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Logistics - 0.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verdane AB-IB Co-Invest AB\*<sup>1,2,3,5,6</sup> | Limited Partnership Interest | 3/20/2022 | 5062163 | 4516615 |
| &nbsp;&nbsp;&nbsp;**Total Western Europe** |  |  |  | 9431295 |
| **Total Secondary Funds** |  |  | 166555841 | 238592533 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest rate** | **Principal Value** | **Shares** | **Cost** | **Fair Value** |
| **Short Term Investments - 13.31%** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Class<sup>3,7,8</sup> | 4.36%<sup>9</sup> | N/A | 41390613 | 41390613 | 41390613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UMB Bank Demand Deposit | 0.01%<sup>9</sup> | 25334600 | N/A | 25334600 | 25334600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Short Term Investments** |  |  |  |  | 66725213 |
| **Total Investments (Cost $440,204,486)** |  |  |  |  | **551669385** |
| Liabilities in excess of other assets - (10.04%) |  |  |  |  | (50314424) |
| **Total Net Assets - 100%** |  |  |  |  | $**501354961** |

---

LIBOR - London Interbank Offered Rate

SOFR - Secured Overnight Financing Rate

---

| | |
|:---|:---|
| <sup>†</sup> | Direct Investments are private investments directly into the equity or debt of selected operating companies, often together with the management of the company. Secondary Investments are portfolios of assets purchased on the secondary market. |

---

^ Investments do not issue shares.

---

| | |
|:---|:---|
| <sup>#</sup> | The Fair Value is estimated by management using significant unobservable inputs and as such may not necessarily reflect the current or expected future performance of such Direct Investment or Secondary Investment or the Fair Value of the Fund's interest in such Direct Investment or Secondary Investment. Furthermore, the Fair Value has not been calculated, reviewed, verified or in any way approved by such Direct Investment or Secondary Investment or its general partner, manager or sponsor (including any of its affiliates). Please see notes to financial statements for further details regarding the valuation policy of the Fund. |

---

**\*** Investment is non-income producing.

**<sup>1</sup>** Restricted security.

**<sup>2</sup>** Investment has been committed to but has not been fully funded by the Fund.

**<sup>3</sup>** All or a portion of this security is custodied with HL PAF Holdings, LLC. (See Note 1).

**<sup>4</sup>** These loans carry a variable rate of interest. The lending rates are generally a base rate, plus (i) the greater of a LIBOR floor or 1 month LIBOR, or (ii) the greater of a SOFR floor or the SOFR rate. As of December 31, 2022 the 1 month LIBOR rate was 4.392% and the SOFR rate was 4.30%.

**<sup>5</sup>** Investment does not allow redemptions or withdrawals except at discretion of its general partner, manager or advisor.

**<sup>6</sup>** Foreign security denominated in U.S. Dollars.

**<sup>7</sup>** All or a portion of this security is custodied with PAF JZ Blocker (See Note 1).

**<sup>8</sup>** All or a portion of this security is custodied with PAF Diamondback Blocker (See Note 1).

**<sup>9</sup>** The rate is the annualized seven-day yield at year end.

See accompanying notes to consolidated schedule of investments.

**Hamilton Lane Private Assets Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS**

**December 31, 2022 (Unaudited)**

**Note 1 – Fair Value of Financial Instruments**

The fair value of the Fund's assets which qualify as financial instruments approximates the carrying amounts presented in the Statement of Assets and Liabilities. The Fund values its investments in investment funds at fair value in accordance with FASB ASC 820, *Fair Value Measurement* ("ASC 820").

The Fund's direct investments are also in private equity credit and equity-related investments that are generally not publicly traded, and thus, market quotations are not available to be used for valuation purposes. Therefore, the Adviser is required to value these direct investments at estimated fair values, using present value and other subjective valuation techniques. These may include references to market multiples, valuations for comparable companies, public market or private transactions, subsequent developments concerning the companies to which the securities relate, results of operations, financial condition, cash flows, and projections of such companies provided to the Adviser and such other factors as the Adviser may deem relevant. Depending on the circumstances, company multiples will not always be comparable due to the size of the related companies or associated transactions being used as comparable data in valuation.

The Adviser utilizes a valuation committee, consisting of senior members of the management team, to review and approve the valuation results related to the investments. The Adviser also utilizes independent valuation firms to provide third-party valuation consulting services for direct credit and direct equity investments.

For portfolio investments that are publicly traded and for which market quotations are available, valuations are generally based on the closing sales prices, or an average of the closing bid and ask prices, as of the valuation date.

**Note 2 – Portfolio Valuation**

ASC 820 defines fair value as the value that the Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the asset or liability. ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's own assumptions about the assumptions that market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observation of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below:

Level I: Quoted prices are available in active markets for identical investments as of the reporting date. The types of investments which would generally be included in Level I include listed equities.

Level II: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The types of investments which would generally be included in Level II include corporate bonds and loans, and less liquid and restricted equity securities. This category also includes interests in special purpose vehicles whose fair value is predominantly attributable to investments in Level I type securities.

Level III: Pricing inputs are unobservable for the investment and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. Those unobservable inputs, that are not corroborated by market data, generally reflect the reporting entity's own assumptions about the assumptions market participants would use in determining the fair value of the investment. The types of investments which would generally be included in Level III include equity and/or debt securities issued by private entities and investments in private equity partnerships.

**Hamilton Lane Private Assets Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2022 (Unaudited)**

The Fund has established valuation processes and procedures to ensure that the valuation techniques are fair and consistent, and valuation inputs are supportable. The Fund has designated a Valuation Committee (the "Committee") comprised of employees of the Adviser to oversee the entire valuation process of the Fund's investments. The Committee is responsible for developing the Fund's written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies. The Committee meets on a monthly basis. The Fund's investments in Investment Funds are carried at fair value which generally represents the Fund's pro-rata interest in the net assets of each Investment Fund as reported by the administrators and/or investment managers of the underlying Investment Funds. All valuations utilize financial information supplied by each Investment Fund and are net of management and incentive fees or allocations payable to the Investment Funds' managers or pursuant to the Investment Funds' agreements. The Fund's valuation procedures require the Adviser to consider all relevant information available at the time the Fund values its portfolio. The Committee has assessed factors including, but not limited to, the individual Investment Funds' compliance with fair value measurements, price transparency and valuation procedures in place. The Committee will consider such information and consider whether it is appropriate, in light of all relevant circumstances, to value such a position at its NAV as reported or whether to adjust such value. The underlying investments of each Investment Fund are accounted for at fair value as described in each Investment Fund's financial statements.

The fair value relating to certain underlying investments of these Investment Funds, for which there is no ready market, has been estimated by the respective Investment Fund's management and is based upon available information in the absence of readily ascertainable fair values and does not necessarily represent amounts that might ultimately be realized. Due to the inherent uncertainty of valuation, those estimated fair values may differ significantly from the values that would have been used had a ready market for the investments existed. These differences could be material.

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the inputs used, as of December 31, 2022, in valuing the Fund's assets and liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level I** | **Level II** | **Level III** | **Total** |
| **Assets** | | | | |
| Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Direct Credit | $- | $- | $47071795 | $47071795 |
| &nbsp;&nbsp;&nbsp;Direct Equity |  | 477527 | 194419626 | 194897153 |
| &nbsp;&nbsp;&nbsp;Short Term Investments | 66725213 | - | - | 66725213 |
| Total Investments | $66725213 | $477527 | $241491421 | $308694161 |

---

In accordance with Accounting Standards Update ("ASU") 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) certain Direct Equity and Secondary Investments fair valued using net asset value (or its equivalent) as a practical expedient are not included in the fair value hierarchy. As such, investments in securities with a fair value of $242,975,224 are excluded from the fair value hierarchy as of December 31, 2022.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Hamilton Lane Private Assets Fund

- **b. Investment Company Act file number:** 811-22517

- **c. CIK number of Registrant:** 0001803491

- **d. LEI of Registrant:** 549300QJZBHKIHFFBD30

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 4142992000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Hamilton Lane Private Assets Fund

- **c. LEI of Series:** 549300QJZBHKIHFFBD30

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $552833229.58

**Total Liabilities:** $50716036.84

**Net Assets:** $502117192.74

**Cash Not Reported:** $297456.45

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 3.98%                | 3.54%                | 1.12%                |
| Class ID N/A | 4.00%                | 3.56%                | 1.19%                |
| Class ID N/A | 3.94%                | 3.50%                | 1.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10081078.78             | $10238952.62                               |
| Month 2  | $1319725.85              | $18265802.32                               |
| Month 3  | $283390.59               | $6920979.56                                |

### Schedule of Portfolio Investments

| Name                                                                       | Title                            | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 10K Lakes Fund II L.P.                                                     | 10K_Lakes                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2013898.51   | 0.40%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Zywave Preferred Equity                                                    | Zywave_Pfd Equity                | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    818753 | PA      | $752447.20    | 0.15%             | 2025-11-12      | Variable      | 11.12%                | Yes           | 3                  | On Loan: No      |
| ACON Strategic Partners II-B, LP                                           | ACON Strategic Partners II-B, LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $18144637.46  | 3.61%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adare Pharmaceuticals Credit Term Loan                                     | Adare-Crescent _Credit_TL        | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    637398 | PA      | $593736.58    | 0.12%             | 2026-09-22      | Variable      | 7.25%                 | Yes           | 3                  | On Loan: No      |
| Alliant Services, Inc. Series A Preferred Shares                           | Alliant Services Inc             | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   6000000 | PA      | $5823000.00   | 1.16%             | 2025-11-06      | Variable      | 9.75%                 | Yes           | 3                  | On Loan: No      |
| Amentum Government Services Holdings LLC Tranche 2 Term Loan (Second Lien) | AmentumGovt_LX201202             | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   5000000 | PA      | $4727000.00   | 0.94%             | 2030-02-15      | Variable      | 8.25%                 | Yes           | 3                  | On Loan: No      |
| AML RightSource Credit                                                     | AML RS-MidCap_Credit_TL          | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   3589989 | PA      | $3323036.27   | 0.66%             | 2026-09-21      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| AML RightSource Credit DDTL                                                | AML RS-MidCap_Credit_DDTL        | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    598047 | PA      | $594336.27    | 0.12%             | 2026-09-21      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| AML RightSource Credit Incremental Term Loan                               | AML RS-MidCap_Credit_IncremTL    | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    398800 | PA      | $393452.51    | 0.08%             | 2026-09-21      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| AML RightSource Credit Revolver                                            | AML RS-MidCap_Credit_Revolver    | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    305204 | PA      | $57252.95     | 0.01%             | 2026-09-21      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| AMLRS Equity Investors, L.P.                                               | AMLRS Equity Investors, L.P.     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2353270.00   | 0.47%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Audax Private Eq Fund IV                                                   | Audax Private Eq Fund IV         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $5313393.55   | 1.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Awz Pentera III LLC (Project Astro 2)                                      | Awz_Pentera_III_LLC              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $7348000.00   | 1.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bowmark Inv Partnership-J                                                  | Bowmark Inv Partnership-J        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $3066282.00   | 0.61%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Cardinal/Zywave Credit DDTL                                                | Zywave-Morgan St_Credit_DDTL     | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |     31111 | PA      | $-356.43      | -0.00%            | 2025-11-12      | Variable      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| Cardinal/Zywave Credit TL                                                  | Zywave-Morgan St_Credit_TL       | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   1302222 | PA      | $1220017.46   | 0.24%             | 2025-11-12      | Variable      | 8.50%                 | Yes           | 3                  | On Loan: No      |
| Career Step LLC Series A Preffered Equity                                  | Career_Step_LLC                  | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   1300000 | PA      | $1305649.76   | 0.26%             | 2028-11-17      | Variable      | 10.75%                | Yes           | 3                  | On Loan: No      |
| Career Step LLC Series A-1 Preffered Equity                                | Career_Step_LLC_SerA-1           | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   1176419 | PA      | $1181531.59   | 0.24%             | 2028-11-17      | Variable      | 10.75%                | Yes           | 3                  | On Loan: No      |
| CCBlue Limited Partnership                                                 | CCBlue Limited Partnership       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $6662323.00   | 1.33%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Celestial Key Group Limited                                                | Celestial_Key                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $6885729.00   | 1.37%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Chance Co-Investment, L.P                                                  | Chance Co-Investment, L.P        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $11957035.00  | 2.38%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Inventus Power Credit Facility Term Loan - Contract 2                      | InventusPower_Credit_TL_2        | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |     92308 | PA      | $87009.23     | 0.02%             | 2024-09-29      | Variable      | 9.50%                 | Yes           | 3                  | On Loan: No      |
| CL DAL Opp Feeder, L.P.                                                    | CL DAL Opp Feeder, L.P.          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $578260.00    | 0.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Einstein 2021, L.P.                                                        | Einstein2021LP                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $21424039.00  | 4.27%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Everberg SC Holdings IV, LLC                                               | Everberg SC Holdings IV, LLC     | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |         1 | OU      | $222264.40    | 0.04%             | N/A             | Variable      | 12.00%                | Yes           | 3                  | On Loan: No      |
| Everberg_CIS                                                               | Everberg_CIS                     | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |         1 | OU      | $537429.29    | 0.11%             | 2026-04-14      | Variable      | 10.49%                | Yes           | 3                  | On Loan: No      |
| Everberg_SC_III                                                            | Everberg_SC_III                  | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |         1 | OU      | $559371.55    | 0.11%             | 2027-07-08      | Variable      | 10.88%                | Yes           | 3                  | On Loan: No      |
| Eversecure PTE. LTD. Series A Preferred Shares                             | Eversecure PTE. LTD.             | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   5000000 | PA      | $7292386.77   | 1.45%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Everstone Cap Partners III                                                 | Everstone Cap Partners III       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $8655445.13   | 1.72%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Fetch Rewards                                                              | Fetch Rewards                    | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    106646 | PA      | $5457324.00   | 1.09%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Follett Acquisition LP                                                     | FollettAquis_JeffRiver           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $9832565.00   | 1.96%             |  |  |  | Yes           | 3                  | On Loan: No      |
| FSN Capital Unique Co-Investment L.P.                                      | FSN_Cap_Unique_Co-Invest_LP      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $14193497.00  | 2.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CLP Select Opportunities, L.P.                                             | CLP Select Opportunities, L.P.   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $11621752.94  | 2.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Gannett Fleming Inc Term Loan                                              | GannettFleming_Credit_TL         | CUSIP: 36171NAE6<br>LEI: N/A | Long             | LON              | CORP              | US        |   3000000 | PA      | $2939210.40   | 0.59%             | 2028-12-20      | Variable      | 11.11%                | Yes           | 3                  | On Loan: No      |
| GOLDMAN SACHS FIN SQ GOVT-FS                                               | FGTXX                            | CUSIP: 38141W273<br>LEI: N/A | Long             | STIV             | CORP              | US        |  41390613 | NS      | $41390612.59  | 8.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Ignite Resonate Co-Investors LLC                                           | Ignite Resonate Co-Investors LLC | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $8000000.00   | 1.59%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Indigo L.P.                                                                | Indigo_LP                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $5010270.00   | 1.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Inmark Term Loan Facility DDTL Additional Upsize                           | Inmark_Credit_DDTL-2             | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   1236707 | PA      | $1226834.94   | 0.24%             | 2026-12-23      | Variable      | 1.00%                 | Yes           | 3                  | On Loan: No      |
| Inmark Term Loan Facility DDTL LX195117                                    | Inmark_Credit_DDTL               | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    247487 | PA      | $244876.59    | 0.05%             | 2026-12-23      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| Inmark Term Loan Facility Term Loan Incremental Upsize                     | Inmark_Credit_TL-2               | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   3703107 | PA      | $3432794.66   | 0.68%             | 2026-12-23      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| Inmark Term Loan Facility Term Loan LX195116                               | Inmark_Credit_TL                 | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    836091 | PA      | $821328.81    | 0.16%             | 2026-12-23      | Variable      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| Inventus Power Credit Facility Term Loan                                   | InventusPower_Credit_TL          | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    600000 | PA      | $565560.00    | 0.11%             | 2024-09-29      | Variable      | 9.50%                 | Yes           | 3                  | On Loan: No      |
| GI Consilio Parent (5/21) 2nd Lien                                         | GI-Consilio_TL_LX194582          | CUSIP: 36171NAE6<br>LEI: N/A | Long             | LON              | CORP              | US        |   4500000 | PA      | $4500000.00   | 0.90%             | 2029-05-14      | Variable      | 8.00%                 | Yes           | 3                  | On Loan: No      |
| Enak Aggregator Limited Partnership                                        | Enak_Aggregator                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $10410031.01  | 2.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| JZHL Secondary Fund LP                                                     | JZHL Secondary Fund LP           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $6531705.13   | 1.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Travel Nurse Across America Credit Facility Term Loan                      | TravelNurse-Cerberus_Credit_TL   | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   5908809 | PA      | $5819952.41   | 1.16%             | 2026-12-16      | Variable      | 6.50%                 | Yes           | 3                  | On Loan: No      |
| Kestra Advisor Services Holdings A 2nd Lien T/L                            | KestraAdvisor_LX200887           | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   2230769 | PA      | $2055653.85   | 0.41%             | 2027-06-03      | Variable      | 7.50%                 | Yes           | 3                  | On Loan: No      |
| KPS Spec Situations IV LP                                                  | KPS Spec Situations IV LP        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2891041.93   | 0.58%             |  |  |  | Yes           | N/A                | On Loan: No      |
| L Catterton Asia 3 Continuation Fund Sing LP                               | LCattertonAsia3                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3627335.33   | 0.72%             |  |  |  | Yes           | N/A                | On Loan: No      |
| L Catterton Growth IV, LP                                                  | LCattertonGrowthIV               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $7670968.91   | 1.53%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Lash Opco, LLC Credit Facility - Delayed Draw Term Loan                    | Lash Opco-MidCap_Credit_DDTL     | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    834569 | PA      | $831393.01    | 0.17%             | 2026-03-18      | Variable      | 8.00%                 | Yes           | 3                  | On Loan: No      |
| Lash Opco, LLC Credit Facility - Revolver                                  | Lash Opco-MidCap_Credit_Revolver | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    103637 | PA      | $49549.01     | 0.01%             | 2026-03-18      | Variable      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| Lash Opco, LLC Credit Facility - Term Loan                                 | Lash Opco-MidCap_Credit_TL       | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |   2454709 | PA      | $2481494.26   | 0.49%             | 2026-03-18      | Variable      | 8.00%                 | Yes           | 3                  | On Loan: No      |
| LC Healthcare Continued Fund I, LP                                         | LC_Healthcare_CF_1               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $9925435.39   | 1.98%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LUV Car Wash Blocker LLC                                                   | LUV_Car Wash_Blocker_LLC         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $14227102.00  | 2.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Madison Bay-HL L.P.                                                        | Madison Bay-HL L.P.              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1498262.37   | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Madison Bay-HL L.P. - Add on                                               | Madison Bay-HL L.P.-Add On       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2306169.18   | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MiddleGround Checker Coinvest                                              | MiddleGround_Checker             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $10850167.00  | 2.16%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Motive IC SAS-A, LP                                                        | Motive_IC_SAS-A                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $4869268.62   | 0.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| NEA BH SPV II, L.P.                                                        | NEA BH SPV II, L.P.              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $477526.92    | 0.10%             |  |  |  | Yes           | 2                  | On Loan: No      |
| NewView Cap Spec Opp Fund I                                                | NewView Cap Spec Opp Fund I      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $26782868.17  | 5.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Oscar Holdings, LP                                                         | Oscar Holdings, LP               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $8497580.00   | 1.69%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Panacea Co-Investment, L.P                                                 | Panacea Co-Investment, L.P       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $9473568.00   | 1.89%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Pitango Continuation Fund 2021, L.P.                                       | Pitango2021                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $9458476.45   | 1.88%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RC V RW Investor-B, LLC                                                    | RC V RW Investor-B, LLC          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $9200325.00   | 1.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| KAWP Holdings, L.P.                                                        | KAWP Holdings, L.P.              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $12288068.00  | 2.45%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Kelso Inv Associates IX, LP                                                | Kelso Inv Associates IX, LP      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $26109763.27  | 5.20%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Roark Capital Partners CF LP                                               | Roark Capital Partners CF LP     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $6848386.26   | 1.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sagard 3, FCPI                                                             | Sagard_3_FCPI                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | FR        |         1 | OU      | $394828.27    | 0.08%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sagard 4, FCPI                                                             | Sagard_4_FCPI                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | FR        |         1 | OU      | $136728.33    | 0.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Teal Parent Holdings, L.P.                                                 | Teal Parent Holdings, L.P.       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $345.00       | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| The Resolute II Continuation Fund, L.P.                                    | Resolute_II_Continuation         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $19587975.84  | 3.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| THL Fund Investors (Altar), L.P.                                           | THL_Altar                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $10718735.00  | 2.13%             |  |  |  | Yes           | 3                  | On Loan: No      |
| TorQuest Partners Fund US IV LP                                            | TorQuest Partners Fund US IV LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |         1 | OU      | $15151938.83  | 3.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TPG Vardos, L.P.                                                           | TPG Vardos, L.P.                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $8763563.00   | 1.75%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Travel Nurse Across America Credit Facility Revolver                       | TravelNurse-Cerb_Credit_Revolver | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    792330 | PA      | $-13485.41    | -0.00%            | 2026-12-16      | Variable      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| Redstone HoldCo 2 LP - Initial Loan (Second Lien)                          | Redstone_TL_LX194111             | CUSIP: 75774EAK1<br>LEI: N/A | Long             | LON              | CORP              | US        |   2601541 | PA      | $1293746.21   | 0.26%             | 2029-04-27      | Variable      | 8.50%                 | Yes           | 3                  | On Loan: No      |
| Trilantic Cap Partners VI                                                  | Trilantic Cap Partners VI        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $7402348.72   | 1.47%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TVG-Hero Holdings II, L.P.                                                 | TVG-Hero Holdings II, L.P.       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3560989.00   | 0.71%             |  |  |  | Yes           | 3                  | On Loan: No      |
| T-VIII Skopima Co-Invest LP                                                | T-VIII_Skopima                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $834372.00    | 0.17%             |  |  |  | Yes           | 3                  | On Loan: No      |
| UMB Money Market Sweep Account                                             | MMFIDU                           | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             | CORP              | US        |  25334600 | NS      | $25334600.00  | 5.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Verdane (HL) A-IB Coinvest AB                                              | Verdane (HL) A-IB Coinvest AB    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | SE        |         1 | OU      | $4516614.92   | 0.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Waterland_WSOF1                                                            | Waterland_WSOF1                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | NL        |         1 | OU      | $4383123.99   | 0.87%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Webster Equity Partners Pinnacle, LP                                       | Webster_EP_Pinnacle              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $14271766.61  | 2.84%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Wind Point VIII Global-B LP                                                | Wind Point VIII Global-B LP      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $322245.64    | 0.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Wind Point VIII-B LP                                                       | Wind Point VIII-B LP             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1545110.74   | 0.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Redstone HoldCo 2 LP - Initial Loan (Second Lien)                          | Redstone_TL_LX194111_2           | CUSIP: 75774EAK1<br>LEI: N/A | Long             | LON              | CORP              | US        |    398459 | PA      | $198153.79    | 0.04%             | 2029-04-27      | Variable      | 8.50%                 | Yes           | 3                  | On Loan: No      |
| ZMC II Extended Value Fund, L.P.                                           | ZMC_II_EVF                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $5775087.57   | 1.15%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Kestra Advisor Services Holdings Delayed Draw Term Loan (Second Lien)_3    | KestraAdvisor_LX200888_3         | CUSIP: 999999999<br>LEI: N/A | Long             | LON              | CORP              | US        |    769230 | PA      | $0.00         | 0.00%             | 2027-06-03      | Variable      | 0.50%                 | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2023-02-08

**Name of Applicant:** Hamilton Lane Private Assets Fund

**Signature:** /s/ Elina Magid

**Name of Signer:** Elina Magid

**Title:** Treasurer