HAMILTON LANE INCORPORATED REPORTS STRONG FOURTH FISCAL QUARTER AND FISCAL YEAR 2022 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 9% AND ASSETS UNDER MANAGEMENT GROWING BY 21% YEAR-OVER-YEAR

Rhea-AI Summary

Hamilton Lane Incorporated (NASDAQ: HLNE) reported strong results for fiscal year 2022, ending March 31, 2022. Total assets under management reached $106.4 billion, up 21% year-over-year, with fee-earning assets increasing 17% to $49.1 billion. Revenue from management and advisory fees rose 9% to $314.2 million. GAAP EPS was $3.98, with a net income of $146.0 million. The company declared a quarterly dividend of $0.40 per share, representing a 14% increase from the previous year, to be paid on July 7, 2022.

Positive

• Assets under management grew to $106.4 billion, a 21% increase year-over-year.
• Fee-earning assets under management increased 17% to $49.1 billion.
• Management and advisory fees rose 9% to $314.2 million.
• Unrealized carried interest increased 84% to $1.2 billion.
• GAAP EPS was $3.98, with net income of $146.0 million.
• Quarterly dividend increased by 14% to $0.40 per share.

Negative

• None.

CONSHOHOCKEN, Pa., May 26, 2022 /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, 2022.

FISCAL YEAR 2022 HIGHLIGHTS

• Assets under management – Total assets under management of $106.4 billion grew 21% year-over-year. Fee-earning assets under management increased 17% to $49.1 billion over the same period.
• Revenue – Management and advisory fees increased 9% to $314.2 million for fiscal 2022.
• Carried Interest – Unrealized carried interest balance of $1.2 billion was up 84% year-over-year.
• Earnings per share – GAAP EPS of $3.98 on $146.0 million of GAAP net income for fiscal 2022.
• Dividend – Declared a quarterly dividend of $0.40 per share of Class A common stock to record holders at the close of business on June 15, 2022 that will be paid on July 7, 2022. The target full-year dividend of $1.60 represents a 14% increase from the prior fiscal year dividend.

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

Hamilton Lane CEO Mario Giannini commented: "Against a backdrop of economic uncertainty, we remain focused on delivering results for our clients and shareholders.  We executed well across all business lines and concluded fiscal year 2022 on solid footing and with strong momentum, providing a firm foundation from which to operate as we enter our next fiscal year."

Conference Call
Hamilton Lane will discuss fourth quarter and full fiscal year 2022 results in a webcast and conference call today, Thursday, May 26, 2022, 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 6058528. 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 institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs approximately 530 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $901.1 billion in assets under management and supervision, composed of approximately $106.4 billion in discretionary assets and approximately $794.7 billion in advisory assets, as of March 31, 2022. 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 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, 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 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, 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, 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 fiscal year 2022?

Hamilton Lane reported a GAAP EPS of $3.98 for fiscal year 2022.

How much did Hamilton Lane grow its assets under management in 2022?

Assets under management grew by 21% to $106.4 billion for the fiscal year 2022.

When will Hamilton Lane's next dividend be paid?

Hamilton Lane's next dividend of $0.40 per share will be paid on July 7, 2022.

What is the revenue growth for Hamilton Lane in fiscal year 2022?

Revenue from management and advisory fees increased by 9% to $314.2 million.

What was the unrealized carried interest for Hamilton Lane at the end of FY 2022?

The unrealized carried interest balance was $1.2 billion, up 84% year-over-year.