Business
HAMILTON LANE INCORPORATED REPORTS THIRD QUARTER FISCAL 2024 RESULTS, WITH MANAGEMENT & ADVISORY FEES GROWING BY 17% AND ASSETS UNDER MANAGEMENT GROWING BY 12% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., Feb. 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., Feb. 6, 2024 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the third fiscal quarter ended December 31, 2023.\n\nTHIRD QUARTER FISCAL 2024 HIGHLIGHTS\nAssets under management – Total assets under management of $120.0 billion grew 12% year-over-year. Fee-earning assets under management increased 15% to $63.1 billion over the same period.Revenue – Management and advisory fees of $113.6 million for the quarter represent growth of 17% versus the prior year period.Carried Interest – Unrealized carried interest balance of approximately $1.1 billion was up 18% versus the prior year period.Earnings per share – GAAP EPS of $0.51 on $19.5 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 March 15, 2024 that will be paid on April 4, 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 third quarter fiscal 2024 results, which can be accessed by clicking here.\nHamilton Lane Co-CEO Erik Hirsch commented: \"Our commitment to excellence, innovation, and growth in the private markets has resulted in another strong quarter for Hamilton Lane. Calendar 2023 was a tremendous year for the firm across our customized separate accounts, specialized funds and tech partnerships, and we look forward to what lies ahead for 2024.\" \nConference CallHamilton Lane will discuss third quarter fiscal 2024 results in a webcast and conference call today, Tuesday, February 6, 2024, 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 institutional and private wealth investors around the...