Business
HAMILTON LANE INCORPORATED REPORTS STRONG FOURTH FISCAL QUARTER AND FISCAL YEAR 2023 RESULTS, WITH MANAGEMENT AND ADVISORY FEES GROWING BY 18% AND ASSETS UNDER MANAGEMENT GROWING BY 5% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., May 25, 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., May 25, 2023 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the fourth fiscal quarter and full fiscal year ended March 31, 2023.\nFISCAL YEAR 2023 HIGHLIGHTS\nAssets under management – Total assets under management of $111.9 billion grew 5% year-over-year. Fee-earning assets under management increased 17% to $57.3 billion over the same period.Revenue – Management and advisory fees increased 18% to $371.9 million for fiscal 2023.Carried Interest – Unrealized carried interest balance of $1.0 billion was down 14% year-over-year.Earnings per share – GAAP EPS of $3.01 on $109.1 million of GAAP net income for fiscal 2023.Dividend – Declared a quarterly dividend of $0.445 per share of Class A common stock to record holders at the close of business on June 15, 2023 that will be paid on July 7, 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 fourth quarter and full fiscal year 2023 results, which can be accessed by clicking here.\nHamilton Lane CEO Mario Giannini commented: \"Despite a challenging market backdrop, our strong momentum and performance continues, due in large part to the dedication and devotion shown by our team around the world. We are happy to report strong growth across the entirety of our business as we close out this fiscal year, and are well positioned for continued, steady growth ahead.\"\nConference Call\nHamilton Lane will discuss fourth quarter and full fiscal year 2023 results in a webcast and conference call today, Thursday, May 25, 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) 330-2028 or (437) 291-8584 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 a...