Hamilton Lane (HLNE) is preparing to launch its first yuan-denominated fund in China, with plans to raise between 1 billion Chinese renminbi ($147.2 million) and 1.5 billion renminbi by year-end, Bloomberg reported Wednesday, citing people familiar with the matter.

The private markets investment firm intends to raise capital from domestic investors, including insurers, and will focus on China's private equity secondary market, where investors are seeking early liquidity through discounted asset sales, the report said.

Hamilton Lane did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)