Hamilton Lane Incorporated Reports Strong Fourth Quarter And Fiscal 2021 Results, With Management & Advisory Fees Growing By Over 18% And Assets Under Management Growing By 28% Year-Over-Year

Rhea-AI Summary

Hamilton Lane Incorporated (NASDAQ: HLNE) reported robust results for the fourth quarter and fiscal year ended March 31, 2021. Assets under management reached approximately $88 billion, growing 28% year-over-year. Revenue from management and advisory fees rose over 18% to nearly $289 million. The GAAP EPS for the fiscal year was $2.81, with a net income of approximately $98 million. A quarterly dividend of $0.35 per share was declared, marking a 12% increase from the prior year.

Positive

• Assets under management increased by 28% to approximately $88 billion.
• Management and advisory fees grew over 18% to approximately $289 million.
• Unrealized carried interest balance rose by 47% year-over-year to approximately $649 million.
• GAAP EPS of $2.81 on approximately $98 million of GAAP net income.
• Declared a quarterly dividend of $0.35, representing a 12% increase from the prior year.

Negative

• None.

BALA CYNWYD, Pa., May 27, 2021 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the fourth quarter and full fiscal year ended March 31, 2021.

FISCAL YEAR 2021 HIGHLIGHTS

• Assets under management – Total assets under management of approximately $88 billion grew 28% year-over-year. Fee-earning assets under management increased 9% to approximately $42 billion over the same period.
  
  
• Revenue – Management and advisory fees increased over 18% to approximately $289 million for fiscal 2021.
  
  
• Carried Interest – Unrealized carried interest balance of approximately $649 million was up 47% year-over-year.
  
  
• Earnings per share – GAAP EPS of $2.81 on approximately $98 million of GAAP net income for fiscal 2021.
  
  
• Dividend – Declared a quarterly dividend of $0.35 per share of Class A common stock to record holders at the close of business on June 15, 2021 that will be paid on July 7, 2021. 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 fourth quarter and full fiscal year 2021 results, which can be accessed by clicking here.

Hamilton Lane CEO Mario Giannini commented: "We are glad to report another strong fiscal year across the entirety of our business. This year demonstrated our resiliency and commitment to deliver tailored, solutions-oriented private markets exposure and industry-leading client service to a growing number of investors around the world."

Conference Call
Hamilton Lane will discuss fourth quarter and full fiscal year 2021 results in a webcast and conference call today, Thursday, May 27, 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 2888447. 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 approximately 450 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has approximately $719 billion in assets under management and supervision, composed of approximately $88 billion in discretionary assets and approximately $631 billion in advisory assets, as of March 31, 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 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 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, 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.

 

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SOURCE Hamilton Lane

FAQ

What were Hamilton Lane's earnings for the fiscal year 2021?

Hamilton Lane reported a GAAP EPS of $2.81 for the fiscal year 2021.

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

Assets under management grew by 28% to approximately $88 billion.

What is the revenue for Hamilton Lane in fiscal 2021?

Revenue from management and advisory fees increased over 18% to approximately $289 million.

When will Hamilton Lane's dividend be paid?

The quarterly dividend of $0.35 per share will be paid on July 7, 2021.

What drove the growth in Hamilton Lane's carried interest?

The unrealized carried interest balance increased by 47% year-over-year to approximately $649 million.