Business
Hamilton Lane Incorporated Reports Strong Second Quarter Fiscal 2020 Results, With Year to Date Management & Advisory Fees Growing By 15% and Assets Under Management Growing By 13% Year-Over-Year
BALA CYNWYD, Pa., Nov. 05, 2019 (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. 05, 2019 (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, 2019.\n SECOND QUARTER FISCAL 2020 HIGHLIGHTS Assets under management – Total assets under management of approximately $66 billion grew 13% year-over-year. Fee-earning assets under management increased 14% to approximately $36 billion, over the same time period. Revenue – Management and advisory fees of approximately $59 million for the quarter and $120 million year to date represent growth of 11% and 15%, respectively. Carried Interest – Unrealized carried interest balance grew 15% year-over-year. Earnings per share – GAAP EPS of $0.56 on approximately $15 million of GAAP net income for the quarter with year to date GAAP EPS of $0.98 on approximately $27 million of GAAP net income. Dividend – Declared a quarterly dividend of $0.275 per share of Class A common stock to record holders at the close of business on December 16, 2019 that will be paid on January 7, 2020. The target full-year dividend of $1.10 represents a 29% increase from the prior fiscal year dividend. Hamilton Lane issued a full detailed presentation of its second quarter and year to date fiscal 2020 results, which can be accessed by clicking here. Hamilton Lane CEO Mario Giannini commented: “We were pleased with the growth this quarter across all key platforms in our business, including customized separate accounts, specialized products and advisory. The results highlight our consistent approach in delivering value to our clients, whether by managing assets or serving as an advisor as they navigate the growing and increasingly complex world of private markets.” Conference CallHamilton Lane will discuss second quarter fiscal 2020 results in a webcast and conference call today, Tuesday, November 5, 2019, 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. The call may also be accessed by dialing (833) 231-8267 inside the U.S., or (647) 689-4112 for international callers. The conference ID is 9287555. 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 the same manner as the li...