Hamilton Lane Incorporated - HLNE STOCK NEWS

Hamilton Lane has successfully closed its largest fund to date, raising $5.6 billion for Secondary Fund VI, surpassing its $5 billion target. This new fund exceeds the previous Secondary Fund V by over 40%, which closed at $3.9 billion in 2021. The firm's impressive fundraising efforts reflect strong support from a diverse group of investors, including corporate and public pension funds, sovereign wealth funds, and other financial institutions from over 30 countries. The firm's secondary platform now represents approximately $20.9 billion in assets under management as of March 31, 2024.

Hamilton Lane's recent survey reveals that 70% of global investment advisors plan to increase client allocations to private markets in 2024, with 92% already participating in this asset class. Conducted with 232 advisors, the survey highlights performance and diversification as key motivators. Despite advisors' advanced understanding of private markets (97%), there's a significant knowledge gap with their clients, 50% of whom have beginner-level knowledge. The survey underscores the need for enhanced education to align client understanding with growing interest. Initiatives like Hamilton Lane's Knowledge Center are aimed at bridging this gap.

Hamilton Lane (Nasdaq: HLNE) reported strong financial results for fiscal year 2024, ending March 31, 2024. Assets under management (AUM) grew by 11% to $124 billion, while fee-earning AUM increased by 15% to $66 billion. Revenue from management and advisory fees surged 22% to $451.9 million. The unrealized carried interest balance rose 19% to $1.2 billion. The company achieved a GAAP EPS of $3.69 with a net income of $140.9 million. Additionally, Hamilton Lane declared a quarterly dividend of $0.49 per share, aiming for a full-year dividend increase of 10% to $1.96 per share. Co-CEO Erik Hirsch highlighted robust growth and strategic focus on delivering value to clients and shareholders.

Hamilton Lane's Global Private Assets Fund (GPA) has reached a significant milestone, achieving approximately $4 billion in assets under management (AUM) and a five-year track record of performance. Launched in 2019, GPA has delivered an annualized net performance of 14% as of March 31, 2024. The fund offers investors diversified exposure to private equity through a single commitment, covering buyout, credit, and venture capital/growth investments globally. GPA is accessible to retail and wholesale investors across multiple regions including Australia, New Zealand, Canada, Europe, Asia, Latin America, and the Middle East. The fund is part of Hamilton Lane's Evergreen Platform, which now reaches nearly $7 billion in total AUM, with plans for additional offerings underway.

Hamilton Lane Incorporated (Nasdaq: HLNE) is set to announce its financial results for the fourth fiscal quarter and full fiscal year ended March 31, 2024, on May 23, 2024. The company will host a conference call to discuss these results. Hamilton Lane is a leading private markets investment firm with approximately $903 billion in assets under management and supervision.

Securitize, a leader in tokenizing real-world assets, secured a $47 million funding round led by BlackRock, with participation from Hamilton Lane, ParaFi Capital, and Tradeweb Markets. The investment highlights Securitize's efforts in digitizing capital markets with blockchain technology, fueling innovation and expansion. BlackRock appointed a board member, emphasizing the potential of blockchain technology in reshaping finance. The funding coincided with the launch of BlackRock's tokenized fund on Ethereum, reinforcing the partnership.

Hamilton Lane Incorporated, a private markets investment management firm, will host a Shareholder Day on June 5, 2024, virtually and in-person. Senior management will present the company's progress, strategy, and outlook. Registration is required for on-site attendance. The live webcast will allow questions via chat. Presentation materials will be available online on the event day.

Hamilton Lane (HLNE) expands its presence in Canada by moving to a larger office in Toronto's Financial District to cater to the increasing demand from Canadian investors seeking access to private markets. With assets under management exceeding $27.5 billion CAD, the firm reinforces its commitment to the region by enhancing its team and client support.

Hamilton Lane (HLNE) announces senior promotions and new COO appointment, highlighting firm growth and recent awards. Kate Reilly appointed as COO of Client Solutions Operations. The firm recognizes 16 individuals promoted to Managing Director and appoints several to Principal and Senior Counsel roles. The promotions aim to enhance client solutions, portfolio management, technology, and operations. The firm's Co-CEOs commend the dedication of the promoted professionals and welcome Kate Reilly to the team. Hamilton Lane has recently received multiple accolades, showcasing its industry recognition and success in the private markets.