CONSHOHOCKEN, Pa., May 23, 2024
/PRNewswire/ -- Leading private markets asset management firm
Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its
results for the fourth fiscal quarter and full fiscal year ended
March 31, 2024.
FISCAL YEAR 2024 HIGHLIGHTS
- Assets under management – Total assets under
management of $124 billion grew 11%
year-over-year. Fee-earning assets under management increased 15%
to $66 billion over the same
period.
- Revenue – Management and advisory fees increased
22% to $451.9 million for fiscal
2024.
- Carried Interest – Unrealized carried interest balance
of $1.2 billion was up 19%
year-over-year.
- Earnings per share – GAAP EPS of $3.69 on $140.9 million of GAAP net income for fiscal
2024.
- Dividend – Declared a quarterly dividend of $0.49 per share of Class A common stock to record
holders at the close of business on June 14, 2024 that will be
paid on July 5, 2024. The target full-year dividend of
$1.96 represents a 10% increase from
the prior fiscal year dividend.
Hamilton Lane issued a full detailed presentation of its fourth
quarter and full fiscal year 2024 results, which can be accessed by
clicking here.
Hamilton Lane Co-CEO Erik Hirsch
commented: "Fiscal year 2024 was another strong year for Hamilton
Lane. We continue to execute well across the entirety of the
business and our growth remains robust. Our market continues to
offer significant opportunity and we remain intensely focused on
delivering for our clients and shareholders."
Conference Call
Hamilton Lane will discuss fourth
quarter and full fiscal year 2024 results in a webcast and
conference call today, Thursday, May 23,
2024, at 11:00 a.m. Eastern
Time.
For access to the live event via the webcast, visit Hamilton
Lane's Shareholders website by clicking here at least 15 minutes
prior to the start of the call. This feature will be in listen-only
mode.
A replay of the webcast will be available approximately two
hours after the live broadcast for a period of one year and can be
accessed in the same manner as the live webcast at the Shareholders
page of Hamilton Lane's website.
About Hamilton Lane
Hamilton Lane (Nasdaq: HLNE) is
one of the largest private markets investment firms globally,
providing innovative solutions to institutional and private wealth
investors around the world. Dedicated exclusively to private
markets investing for more than 30 years, the firm currently
employs approximately 700 professionals operating in offices
throughout North America,
Europe, Asia Pacific and the Middle East. Hamilton Lane has $920.6 billion in assets under management
and supervision, composed of $124.4 billion in discretionary assets and
$796.2 billion in
non-discretionary assets, as of March 31, 2024. Hamilton Lane
specializes in building flexible investment programs that provide
clients access to the full spectrum of private markets strategies,
sectors and geographies. For more information, please
visit www.hamiltonlane.com or follow Hamilton Lane on
LinkedIn: https://www.linkedin.com/company/hamilton-lane/.
Forward-Looking Statements
Some of the statements in
this release may constitute "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Words such as "will," "expect,"
"believe," "estimate," "continue," "anticipate," "intend," "plan"
and similar expressions are intended to identify these
forward-looking statements. Forward-looking statements discuss
management's current expectations and projections relating to our
financial position, results of operations, plans, objectives,
future performance and business. All forward-looking statements are
subject to known and unknown risks, uncertainties and other
important factors that may cause actual results to be materially
different, including risks relating to: our ability to manage
growth, fund performance, competition in our industry, changes in
our regulatory environment and tax status; market conditions
generally; our ability to access suitable investment opportunities
for our clients; our ability to maintain our fee structure; our
ability to attract and retain key employees; our ability to manage
our obligations under our debt agreements; defaults by clients and
third-party investors on their obligations to fund commitments; our
exposure and that of our clients and investors to the credit risks
of financial institutions at which we and they hold accounts; our
ability to comply with investment guidelines set by our clients;
our ability to successfully integrate acquired businesses with
ours; our ability to manage risks associated with introducing new
types of investment structures, products or services or entering
into strategic partnerships; our ability to manage redemption or
repurchase rights in certain of our funds; our ability to manage,
identify and anticipate risks we face; our ability to manage the
effects of events outside of our control; and our ability to
receive distributions from Hamilton Lane Advisors, L.L.C. to fund
our payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more
information regarding these risks and uncertainties as well as
additional risks that we face, you should refer to the "Risk
Factors" detailed in Part I, Item 1A of our Annual Report on Form
10-K for the fiscal year ended March 31, 2023 and in our
subsequent reports filed from time to time with the Securities and
Exchange Commission, including our upcoming Form 10-K for fiscal
2024. The forward-looking statements included in this release are
made only as of the date hereof. We undertake no obligation to
update or revise any forward-looking statement as a result of new
information or future events, except as otherwise required by
law.
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SOURCE Hamilton Lane