CONSHOHOCKEN, Pa., Aug. 6, 2024
/PRNewswire/ -- Leading private markets asset management firm
Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its
results for the first fiscal quarter ended June 30, 2024.
FIRST QUARTER FISCAL 2025 HIGHLIGHTS
- Assets under management – Total assets under
management of $129.7 billion grew 11%
year-over-year. Fee-earning assets under management increased 13%
to $67.7 billion over the same
period.
- Revenue – Management and advisory fees of
$140.0 million for the quarter
represent growth of 33% versus the prior year period.
- Carried Interest – Unrealized carried interest
balance of approximately $1.2 billion
was up 12% versus the prior year period.
- Earnings per share – GAAP EPS of $1.47 on $59.0 million of GAAP net income for the
quarter.
- Dividend – Declared a quarterly dividend of
$0.49 per share of Class A common
stock to record holders at the close of business on
September 16, 2024 that will be paid on October 4, 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 first
quarter fiscal 2025 results, which can be accessed on the Company's
Shareholders website at https://shareholders.hamiltonlane.com/.
Hamilton Lane Co-CEO Erik Hirsch
commented: "After a successful fiscal 2024, we have opened up
fiscal 2025 with a strong quarter. Our team remains focused on
executing and delivering consistent results for our clients and
this has resulted in strong growth across the entirety of our
business."
Conference Call
Hamilton Lane will discuss first
quarter fiscal 2025 results in a webcast and conference call today,
Tuesday, August 6, 2024, at
11:00 a.m. Eastern Time.
For access to the live event via the webcast, visit Hamilton
Lane's Shareholders website
(https://shareholders.hamiltonlane.com/) 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 $940.1 billion in assets under management and
supervision, composed of $129.7
billion in discretionary assets and $810.4 billion in non-discretionary assets, as of
June 30, 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 http://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 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, 2024
and in our subsequent reports filed from time to time with the
Securities and Exchange Commission. 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
