CONSHOHOCKEN, PA — Hamilton Lane Incorporated (Nasdaq: HLNE), a global private markets investment management firm, recently announced its financial results for the third quarter of the fiscal year 2024. The company recorded significant growth across key financial metrics, reinforcing its position as a leading player in the private markets sector.
Hamilton Lane’s total assets under management swelled to $120 billion, marking a 12% year-over-year increase. Fee-earning assets under management jumped 15% to reach $63.1 billion. This growth reflects the company’s strong asset management capabilities and its ability to deliver value to its clients.
The firm’s revenue also saw robust growth, with management and advisory fees reaching $113.6 million for the quarter, a 17% increase compared to the same period last year. This underscores the firm’s successful business model and its ability to generate consistent revenue growth.
The company’s unrealized carried interest balance rose 18% year-over-year to approximately $1.1 billion, adding another feather to Hamilton Lane’s cap. Meanwhile, GAAP earnings per share stood at $0.51 on $19.5 million of GAAP net income for the quarter, indicating healthy profitability.
In a move that will delight shareholders, Hamilton Lane declared a quarterly dividend of $0.445 per share of Class A common stock, payable on April 4, 2024, to record holders at the close of business on March 15, 2024. The target full-year dividend of $1.78 represents an 11% increase from the prior fiscal year dividend, illustrating the firm’s commitment to return capital to its shareholders.
Commenting on the results, Hamilton Lane Co-CEO Erik Hirsch said, “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.”
Hirsch’s optimism is backed by the solid numbers posted by the company. As Hamilton Lane continues to demonstrate strong performance in its financials, shareholders can look forward to a promising future.
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