HAMILTON LANE INCORPORATED REPORTS THIRD QUARTER FISCAL 2023 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 22% AND ASSETS UNDER MANAGEMENT GROWING BY 10% YEAR-OVER-YEAR

Rhea-AI Summary

Hamilton Lane Incorporated (NASDAQ: HLNE) reported impressive third fiscal quarter results for the period ending December 31, 2022. The firm achieved $107.5 billion in total assets under management, reflecting a 10% year-over-year growth. Fee-earning assets surged by 19% to $54.9 billion. Revenue from management and advisory fees reached $97.4 million, a 22% increase compared to the same quarter last year. The company declared a quarterly dividend of $0.40 per share, indicating a 14% increase in the target full-year dividend to $1.60. GAAP earnings per share stood at $0.31.

Positive

• Total assets under management increased by 10% to $107.5 billion.
• Fee-earning assets under management rose 19% to $54.9 billion.
• Management and advisory fees grew by 22% to $97.4 million.
• Declared quarterly dividend of $0.40 per share, a 14% increase from last year.

Negative

• None.

CONSHOHOCKEN, Penn., Feb. 7, 2023 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the third fiscal quarter ended December 31, 2022.

THIRD QUARTER FISCAL 2023 HIGHLIGHTS

• Assets under management – Total assets under management of $107.5 billion grew 10% year-over-year. Fee-earning assets under management increased 19% to $54.9 billion over the same period.
• Revenue – Management and advisory fees of $97.4 million for the quarter represent growth of 22% versus the prior year period.
• Carried Interest – Unrealized carried interest balance of $952.2 million.
• Earnings per share – GAAP EPS of $0.31 on $9.7 million of GAAP net income for the quarter.
• Dividend – Declared a quarterly dividend of $0.40 per share of Class A common stock to record holders at the close of business on March 15, 2023 that will be paid on April 6, 2023. 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 third quarter fiscal 2023 results, which can be accessed by clicking here.

Hamilton Lane CEO Mario Giannini commented: "Despite what continues to be a challenging market environment, we have posted another strong quarter of earnings and growth. We are executing well across the entirety of the business and I remain proud of the effort and determination the team consistently puts forth." 

Conference Call
Hamilton Lane will discuss third quarter fiscal 2023 results in a webcast and conference call today, Tuesday, February 7, 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 nearly 600 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $831.9 billion in assets under management and supervision, composed of $107.5 billion in discretionary assets and $724.4 billion in non-discretionary assets, as of December 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 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 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 anticipate, identify and manage risks we face; our ability to manage the effects of events outside of our control; and our ability to receive distributions from HLA 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, 2022 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 results for Q3 2023?

Hamilton Lane reported GAAP earnings per share of $0.31 for Q3 2023.

How much did Hamilton Lane's assets under management grow in Q3 2023?

Assets under management grew by 10% year-over-year to $107.5 billion.

What was the revenue from management and advisory fees for Hamilton Lane in Q3 2023?

Revenue from management and advisory fees was $97.4 million, marking a 22% increase from the previous year.

What is the declared dividend for Hamilton Lane in Q3 2023?

Hamilton Lane declared a quarterly dividend of $0.40 per share, with a target full-year dividend of $1.60.