Business
HAMILTON LANE INCORPORATED REPORTS SECOND QUARTER FISCAL 2024 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 18% AND ASSETS UNDER MANAGEMENT GROWING BY 11% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., Nov. 7, 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., Nov. 7, 2023 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the second fiscal quarter ended September 30, 2023.\n\nSECOND QUARTER FISCAL 2024 HIGHLIGHTS\nAssets under management – Total assets under management of $119.2 billion grew 11% year-over-year. Fee-earning assets under management increased 17% to $61.4 billion over the same period.Revenue – Management and advisory fees of $109.2 million for the quarter represent growth of 18% versus the prior year period.Carried Interest – Unrealized carried interest balance of approximately $1.2 billion was up 17% versus the prior year period.Earnings per share – GAAP EPS of $1.11 on $42.0 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 December 15, 2023 that will be paid on January 5, 2024. 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 second quarter fiscal 2024 results, which can be accessed by clicking here.\nHamilton Lane CEO Mario Giannini commented: \"Our results this quarter continue to demonstrate the resiliency of our business and our ability to execute well across the entirety of the platform, despite the continued challenging market we find ourselves in. We remain steadfast in our approach to navigating these volatile times and take comfort in our scale and longevity as leaders in private markets.\" \nConference CallHamilton Lane will discuss second quarter fiscal 2024 results in a webcast and conference call today, Tuesday, November 7, 2023, at 11:00 a.m. Eastern Time.\nFor access to the live event via the webcast, visit Hamilton Lane's Shareholders website by clicking here 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...