Business
HAMILTON LANE INCORPORATED REPORTS FIRST QUARTER FISCAL 2024 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 23% AND ASSETS UNDER MANAGEMENT GROWING BY 8% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., Aug. 1, 2023 /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. 1, 2023 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the first fiscal quarter ended June 30, 2023.\nFIRST QUARTER FISCAL 2024 HIGHLIGHTS\nAssets under management – Total assets under management of $117.1 billion grew 8% year-over-year. Fee-earning assets under management increased 17% to $59.7 billion over the same period.Revenue – Management and advisory fees of $105.4 million for the quarter represent growth of 23% versus the prior year period.Carried Interest – Unrealized carried interest balance of $1.1 billion was flat versus the prior year period.Earnings per share – GAAP EPS of $0.81 on $31.0 million of GAAP net income for the quarter.Dividend – Declared a quarterly dividend of $0.445 per share of Class A common stock to record holders at the close of business on September 15, 2023 that will be paid on October 5, 2023. The target full-year dividend of $1.78 represents an 11% increase from the prior fiscal year dividend.Hamilton Lane issued a full detailed presentation of its first quarter fiscal 2024 results, which can be accessed by clicking here.\nHamilton Lane CEO Mario Giannini commented: \"Building off of our fiscal 2023, we are encouraged with the strong set of results we've achieved to start this year. Amidst the changing macroeconomic backdrop, we continue to rely on our expertise through cycles in an effort to navigate the current landscape and best position our clients and ourselves to capitalize on attractive opportunities. We are focused on ensuring that Hamilton Lane continues to serve as a valued partner to our clients around the world, and a steady engine of transformation and growth within our asset class.\" \nConference Call\nHamilton Lane will discuss first quarter fiscal 2024 results in a webcast and conference call today, Tuesday, August 1, 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.\nTo 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) 330-202...