Hamilton Lane Incorporated Reports Second Quarter Fiscal 2022 Results, With Management & Advisory Fees Growing By 14% And Assets Under Management Growing By 32% Year-Over-Year

Rhea-AI Summary

Hamilton Lane Incorporated (NASDAQ: HLNE) reported strong results for Q2 fiscal 2022, achieving a 32% increase in total assets under management, reaching $96 billion. Fee-earning assets grew by 14% to $45 billion. The company generated $75.9 million in management and advisory fees, reflecting a 14% year-over-year growth. GAAP EPS stood at $1.41 with net income of $52.1 million. A quarterly dividend of $0.35 per share was declared, representing a 12% increase from last year.

Positive

• Assets under management increased by 32%, totaling $96 billion.
• Management and advisory fees grew 14% to $75.9 million.
• Unrealized carried interest rose 142% year-over-year to $990 million.
• GAAP EPS of $1.41 and net income of $52.1 million.
• Quarterly dividend of $0.35 declared, reflecting a 12% increase.

Negative

• None.

CONSHOHOCKEN, Pa., Nov. 2, 2021 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the second fiscal quarter ended September 30, 2021.

SECOND QUARTER FISCAL 2022 HIGHLIGHTS

• Assets under management – Total assets under management of $96 billion grew 32% year-over-year. Fee-earning assets under management increased 14% to $45 billion over the same period.
• Revenue – Management and advisory fees of $75.9 million for the quarter represents growth of 14% versus the prior year period.
• Carried Interest – Unrealized carried interest balance of $990 million was up 142% year-over-year.
• Earnings per share – GAAP EPS of $1.41 on $52.1 million of GAAP net income for the quarter.
• Dividend – Declared a quarterly dividend of $0.35 per share of Class A common stock to record holders at the close of business on December 15, 2021 that will be paid on January 6, 2022. The target full-year dividend of $1.40 represents a 12% increase from the prior fiscal year dividend.

Hamilton Lane issued a full detailed presentation of its second quarter fiscal 2022 results, which can be accessed by clicking here.

Hamilton Lane CEO Mario Giannini commented: "It was another exciting quarter for us as we continued to leverage our leading position within private markets to service a growing set of investors. The ongoing success of our evergreen product offering, coupled with our latest technology investments, demonstrate the real demand for private markets solutions by a variety of investor types."

Conference Call
Hamilton Lane will discuss second quarter fiscal 2022 results in a webcast and conference call today, Tuesday, November 2, 2021, 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 8093992. 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 Shareholders page of Hamilton Lane's website.

About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs more than 500 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $805 billion in assets under management and supervision, composed of $96 billion in discretionary assets and $709 billion in advisory assets, as of September 30, 2021. 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, 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 successfully integrate acquired businesses with ours; our ability to manage risks associated with pursuing new lines of business or entering into strategic partnerships; 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, 2021, as amended, 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

FAQ

What were Hamilton Lane's earnings for Q2 fiscal 2022?

Hamilton Lane reported a GAAP EPS of $1.41 and net income of $52.1 million for Q2 fiscal 2022.

How much did Hamilton Lane's assets under management increase?

Hamilton Lane's total assets under management increased by 32% to $96 billion year-over-year.

What is the new dividend announced by Hamilton Lane?

Hamilton Lane declared a quarterly dividend of $0.35 per share, a 12% increase from the previous fiscal year.

What growth did Hamilton Lane see in management and advisory fees?

Management and advisory fees increased by 14% to $75.9 million compared to the prior year.

When will Hamilton Lane's next conference call take place?

Hamilton Lane will discuss its Q2 results in a conference call on November 2, 2021, at 11:00 AM Eastern Time.