Business
Hamilton Lane Incorporated Reports Second Quarter Fiscal 2021 Results, With Management & Advisory Fees Growing by Nearly 12% and Assets Under Management Growing by Nearly 11% Year-Over-Year
BALA CYNWYD, Pa., Nov. 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., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the second fiscal quarter ended September 30, 2020.\n SECOND QUARTER FISCAL 2021 HIGHLIGHTS Assets under management – Total assets under management of approximately $73 billion grew nearly 11% year-over-year. Fee-earning assets under management increased nearly 9% to approximately $39 billion over the same period.Revenue – Management and advisory fees of approximately $66 million for the quarter represents growth of 12% versus the prior year period.Carried Interest – Unrealized carried interest balance of approximately $410 million was up 7% year-over-year. Earnings per share – GAAP EPS of $0.66 on approximately $21.8 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 December 15, 2020 that will be paid on January 7, 2021. 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 second quarter fiscal 2021 results, which can be accessed by clicking here. Hamilton Lane CEO Mario Giannini commented: “Across the private markets, we’ve seen valuations, fundraising and deal activity rebound, in some cases to levels higher than what we saw pre-pandemic — a trend that contributed to another strong quarter for us. Our AUM grew nearly 11% to $73 billion, continuing our long-term growth trend.” Conference CallHamilton Lane will discuss second quarter fiscal 2021 results in a webcast and conference call today, Wednesday, November 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 2466055. After registration, attendees will receive an email with dial-in details. Anyone experiencing trouble accessing the call in this manner may dial (888) 869-1189 or (706) 643-5902 for assistance. A 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 ...