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Hamilton Lane Incorporated Reports First Quarter Fiscal 2021 Results, With Management & Advisory Fees Growing by 11% and Assets Under Management Growing by 6% Year-Over-Year
BALA CYNWYD, Pa., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its
About this update from Hamilton Lane Incorporated
[{"type":"text","content":"BALA CYNWYD, Pa., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the first fiscal quarter ended June 30, 2020.\n FIRST QUARTER FISCAL 2021 HIGHLIGHTS Assets under management – Total assets under management of approximately $68 billion grew 6% year-over-year. Fee-earning assets under management increased 12% to approximately $39 billion over the same period. Revenue – Management and advisory fees of approximately $67 million for the quarter represents growth of 11% versus the prior year period. Carried Interest – Unrealized carried interest balance of approximately $311 million was down 15% year-over-year. Earnings per share – GAAP EPS of $0.11 on approximately $3.2 million of GAAP net income for the quarter. Dividend – Declared a quarterly dividend of $0.3125 per share of Class A common stock to record holders at the close of business on September 15, 2020 that will be paid on October 6, 2020. The target full-year dividend of $1.25 represents a 13.6% increase from the prior fiscal year dividend. Hamilton Lane issued a full detailed presentation of its first quarter fiscal 2021 results, which can be accessed by clicking here. Hamilton Lane CEO Mario Giannini commented: “I would again like to express our gratitude for the multitude of sacrifices and the extraordinary effort that all front-line workers and volunteers have put forth during this trying period. Let me also thank our clients, many of whom have members and families on the front lines. Lastly, a thank you to the Hamilton Lane team for continuing to step up and deliver their very best for our clients. We had a very solid quarter – with our asset footprint of approximately $516 billion representing 9% growth year-over-year – and that is directly attributable to their hard work and dedication.” Conference CallHamilton Lane will discuss first quarter fiscal 2021 results in a webcast and conference call today, Tuesday, August 4, 2020, at 11:00 a.m. Eastern Time. The call will be broadcast live via a webcast, which may be accessed on Hamilton Lane’s Investor Relations 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 4783519. After registration, attendees will receive an email wi...