CONSHOHOCKEN, PA — Hamilton Lane Incorporated (Nasdaq: HLNE) has posted impressive financial results for its fourth fiscal quarter and the entire fiscal year ending March 31, 2024. The private markets investment firm showed robust growth across key metrics.
Fiscal Year 2024 Highlights:
- Assets Under Management: Total assets under management reached $124 billion, growing 11% year-over-year. Fee-earning assets under management saw a sharper increase, rising 15% to $66 billion.
- Revenue: Management and advisory fees shot up by 22%, totaling $451.9 million for the fiscal year.
- Carried Interest: The unrealized carried interest balance climbed 19%, reaching $1.2 billion.
- Earnings Per Share: GAAP earnings per share stood at $3.69, based on a GAAP net income of $140.9 million.
- Dividend: Hamilton Lane declared a quarterly dividend of $0.49 per share of Class A common stock. Shareholders of record as of June 14, 2024, will receive the dividend on July 5, 2024. The target full-year dividend of $1.96 represents a 10% bump from the previous fiscal year’s dividend.
Co-CEO Erik Hirsch praised the company’s performance. “Fiscal year 2024 was another strong year for Hamilton Lane. We continue to execute well across the entirety of the business, and our growth remains robust,” he said. Hirsch emphasized the firm’s focus on delivering value to both clients and shareholders, noting that the market offers significant opportunities.
Hamilton Lane: Driving Growth and Value in Private Markets
Hamilton Lane’s performance highlights its strategic execution and ability to capture growth in the private markets sector. The rise in assets under management and fee-earning assets signals strong investor confidence and sustained demand for the firm’s investment services.
The increase in carried interest indicates that Hamilton Lane’s investment strategies are yielding positive returns, enhancing the firm’s long-term profitability. The boost in management and advisory fees further underscores Hamilton Lane’s expanding client base and successful fund management.
The declared dividend reflects Hamilton Lane’s commitment to returning value to shareholders. The 10% increase in the annual dividend demonstrates financial health and confidence in future cash flows.
Looking ahead, Hamilton Lane appears well-positioned to capitalize on market opportunities. The firm’s continued focus on strategic execution and client satisfaction could drive further growth. With substantial assets under management and a solid financial foundation, Hamilton Lane aims to maintain its upward trajectory in the competitive investment landscape.
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