Business
HAMILTON LANE INCORPORATED REPORTS FIRST QUARTER FISCAL 2025 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 33% AND ASSETS UNDER MANAGEMENT GROWING BY 11% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., Aug. 6, 2024 /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. 6, 2024 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the first fiscal quarter ended June 30, 2024.\n\nFIRST QUARTER FISCAL 2025 HIGHLIGHTS\nAssets under management – Total assets under management of $129.7 billion grew 11% year-over-year. Fee-earning assets under management increased 13% to $67.7 billion over the same period. Revenue – Management and advisory fees of $140.0 million for the quarter represent growth of 33% versus the prior year period. Carried Interest – Unrealized carried interest balance of approximately $1.2 billion was up 12% versus the prior year period. Earnings per share – GAAP EPS of $1.47 on $59.0 million of GAAP net income for the quarter. Dividend – Declared a quarterly dividend of $0.49 per share of Class A common stock to record holders at the close of business on September 16, 2024 that will be paid on October 4, 2024. The target full-year dividend of $1.96 represents a 10% increase from the prior fiscal year dividend.Hamilton Lane issued a full detailed presentation of its first quarter fiscal 2025 results, which can be accessed on the Company's Shareholders website at https://shareholders.hamiltonlane.com/.\nHamilton Lane Co-CEO Erik Hirsch commented: \"After a successful fiscal 2024, we have opened up fiscal 2025 with a strong quarter. Our team remains focused on executing and delivering consistent results for our clients and this has resulted in strong growth across the entirety of our business.\" \nConference CallHamilton Lane will discuss first quarter fiscal 2025 results in a webcast and conference call today, Tuesday, August 6, 2024, at 11:00 a.m. Eastern Time.\nFor access to the live event via the webcast, visit Hamilton Lane's Shareholders website (https://shareholders.hamiltonlane.com/) at least 15 minutes prior to the start of the call. This feature will be in listen-only mode.\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 Shareholders page of Hamilton Lane's website.\nAbout Hamilton LaneHamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wea...