Hamilton Lane Incorporated Reports Second Quarter Fiscal 2021 Results, With Management & Advisory Fees Growing by Nearly 12% and Assets Under Management Growing by Nearly 11% Year-Over-Year

Rhea-AI Summary

Hamilton Lane reported strong second-quarter fiscal 2021 results, highlighting assets under management reaching $73 billion, up 11% year-over-year. Fee-earning assets rose nearly 9% to approximately $39 billion. Revenue surged 12% to about $66 million, while GAAP EPS stood at $0.66 with net income of $21.8 million. The company declared a quarterly dividend of $0.3125 per share, reflecting a 13.6% increase from the previous year. CEO Mario Giannini noted a rebound in private market valuations and activities, contributing to Hamilton Lane's strong performance.

Positive

• Assets under management increased to approximately $73 billion, a 11% year-over-year growth.
• Revenue from management and advisory fees grew 12% to around $66 million.
• GAAP EPS reported at $0.66, with a net income of $21.8 million.
• Quarterly dividend declared at $0.3125 per share, a 13.6% increase from the previous fiscal year.

Negative

• None.

BALA CYNWYD, Pa., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the second fiscal quarter ended September 30, 2020.

SECOND QUARTER FISCAL 2021 HIGHLIGHTS

• Assets under management – Total assets under management of approximately $73 billion grew nearly 11% year-over-year. Fee-earning assets under management increased nearly 9% to approximately $39 billion over the same period.
  
  
• Revenue – Management and advisory fees of approximately $66 million for the quarter represents growth of 12% versus the prior year period.
  
  
• Carried Interest – Unrealized carried interest balance of approximately $410 million was up 7% year-over-year.
  
  
• Earnings per share – GAAP EPS of $0.66 on approximately $21.8 million of GAAP net income for the quarter.
  
  
• Dividend – Declared a quarterly dividend of $0.3125 per share of Class A common stock to record holders at the close of business on December 15, 2020 that will be paid on January 7, 2021. The target full-year dividend of $1.25 represents a 13.6% increase from the prior fiscal year dividend.
  

Hamilton Lane issued a full detailed presentation of its second quarter fiscal 2021 results, which can be accessed by clicking here.

Hamilton Lane CEO Mario Giannini commented: “Across the private markets, we’ve seen valuations, fundraising and deal activity rebound, in some cases to levels higher than what we saw pre-pandemic — a trend that contributed to another strong quarter for us. Our AUM grew nearly 11% to $73 billion, continuing our long-term growth trend.”

Conference Call
Hamilton Lane will discuss second quarter fiscal 2021 results in a webcast and conference call today, Wednesday, November 4, 2020, at 11:00 a.m. Eastern Time. The call will be broadcast live via a webcast, which may be accessed on Hamilton Lane’s Investor Relations 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 2466055. After registration, attendees will receive an email with dial-in details. Anyone experiencing trouble accessing the call in this manner may dial (888) 869-1189 or (706) 643-5902 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 Hamilton Lane Investor Relations website.

About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 29 years, the firm currently employs over 400 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has approximately $547 billion in assets under management and supervision, composed of approximately $73 billion in discretionary assets and over $474 billion in advisory assets, as of September 30, 2020. Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @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, 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 ability to comply with investment guidelines set by our clients; 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, 2020 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.

Investor Contact
John Oh
joh@hamiltonlane.com
+1 610 617 6026

Media Contact
Kate McGann
kmcgann@hamiltonlane.com
+1 240 888 4078

FAQ

What were Hamilton Lane's second quarter fiscal 2021 earnings results?

Hamilton Lane reported revenue of approximately $66 million and GAAP EPS of $0.66 for the second quarter of fiscal 2021.

How much did Hamilton Lane's assets under management grow in Q2 2021?

Assets under management grew nearly 11% year-over-year to approximately $73 billion.

What is the dividend declared by Hamilton Lane for Q2 2021?

A quarterly dividend of $0.3125 per share was declared, representing a 13.6% increase from the prior fiscal year.

What trends did Hamilton Lane's CEO highlight for the private markets?

CEO Mario Giannini noted a rebound in valuations, fundraising, and deal activity in the private markets.