Business
HAMILTON LANE INCORPORATED REPORTS FIRST QUARTER FISCAL 2023 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 16% AND ASSETS UNDER MANAGEMENT GROWING BY 18% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., Aug. 2, 2022 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its
About this update from Hamilton Lane Incorporated
[{"type":"text","content":"CONSHOHOCKEN, Pa., Aug. 2, 2022 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the first fiscal quarter ended June 30, 2022.\nFIRST QUARTER FISCAL 2023 HIGHLIGHTSAssets under management – Total assets under management of $108.0 billion grew 18% year-over-year. Fee-earning assets under management increased 20% to $51.1 billion over the same period.Revenue – Management and advisory fees of $85.9 million for the quarter represents growth of 16% versus the prior year period.Carried Interest – Unrealized carried interest balance of $1.1 billion was up 36% year-over-year.Earnings per share – GAAP EPS of $0.91 on $33.5 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 September 15, 2022 that will be paid on October 6, 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 first quarter fiscal 2023 results, which can be accessed by clicking here.\nHamilton Lane CEO Mario Giannini commented: \"Despite the multitude of headwinds continuing to challenge markets, our results this quarter speak clearly to the strength of a business that offers a diversified product platform, a robust global client base and growing suite of solutions. We are proud of our results this quarter and remain optimistic and encouraged by our pipeline.\"\nConference CallHamilton Lane will discuss first quarter fiscal 2023 results in a webcast and conference call today, Tuesday, August 2, 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.\nTo listen to the conference call and in order to ask questions, attendees may pre-register by clicking here and using the conference ID 93984. After registration, attendees will receive an email with dial-in details. Anyone experiencing trouble accessing the call in this manner may dial (888) 330-2462 or (240) 789-2716 for assistance.\nA 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 S...