CONSHOHOCKEN, Pa., Aug. 1, 2023
/PRNewswire/ -- Leading private markets asset management firm
Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its
results for the first fiscal quarter ended June 30, 2023.
FIRST QUARTER FISCAL 2024 HIGHLIGHTS
- Assets under management – Total assets under management
of $117.1 billion grew 8%
year-over-year. Fee-earning assets under management increased 17%
to $59.7 billion over the same
period.
- Revenue – Management and advisory fees of $105.4 million for the quarter represent
growth of 23% versus the prior year period.
- Carried Interest – Unrealized carried interest
balance of $1.1 billion was flat
versus the prior year period.
- Earnings per share – GAAP EPS of $0.81 on $31.0
million of GAAP net income for the quarter.
- Dividend – Declared a quarterly dividend of $0.445 per share of Class A common stock to
record holders at the close of business on September 15, 2023 that will be paid on
October 5, 2023. The target full-year
dividend of $1.78 represents an 11%
increase from the prior fiscal year dividend.
Hamilton Lane issued a full detailed presentation of its first
quarter fiscal 2024 results, which can be accessed by clicking
here.
Hamilton Lane CEO Mario Giannini
commented: "Building off of our fiscal 2023, we are encouraged with
the strong set of results we've achieved to start this year. Amidst
the changing macroeconomic backdrop, we continue to rely on our
expertise through cycles in an effort to navigate the current
landscape and best position our clients and ourselves to capitalize
on attractive opportunities. We are focused on ensuring that
Hamilton Lane continues to serve as a valued partner to our clients
around the world, and a steady engine of transformation and growth
within our asset class."
Conference Call
Hamilton Lane will discuss first quarter fiscal 2024 results in
a webcast and conference call today, Tuesday, August 1, 2023, at 11:00 a.m. Eastern Time. The call will be
broadcast live via a webcast, which may be accessed on the
Shareholders page of Hamilton Lane's website.
To listen to the conference call and in order to ask questions,
attendees may pre-register by clicking here and using the
conference ID 67939. After registration, attendees will receive an
email with dial-in details. Anyone experiencing trouble
accessing the call in this manner may dial (888) 330-2028 or (437)
291-8584 for assistance.
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 over 600 professionals operating in offices throughout
North America, Europe, Asia
Pacific and the Middle
East. Hamilton Lane has $817.7
billion in assets under management and supervision, composed
of $117.1 billion in discretionary
assets and $700.7 billion in
non-discretionary assets, as of June 30,
2023. 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. 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