UPDATE - Hamilton Lane Incorporated Reports Third Quarter Fiscal 2020 Results, With Year-To-Date Management & Advisory Fees Growing by 12% and Assets Under Management Growing by 13% Year-Over-Year

BALA CYNWYD, Pa., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported its results for the third fiscal quarter ended December 31, 2019.

THIRD 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 $37 billion, over the same time period.
   
• Revenue – Management and advisory fees of approximately $60 million for the quarter and $180 million year-to-date represent growth of 8% and 12%, respectively.
   
• Carried Interest – Unrealized carried interest balance of approximately $409 million grew 15% year-over-year.
   
• Earnings per share – GAAP EPS of $0.46 on approximately $13 million of GAAP net income for the quarter with year-to-date GAAP EPS of $1.44 on approximately $40 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 March 16, 2020 that will be paid on April 6, 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 third 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 areas of our business, driven by a combination of deepening relationships with existing clients, adding new clients and growing our specialized funds. The appetite for private markets solutions remains strong and we continue to benefit from that demand.”

Conference Call
Hamilton Lane will discuss third quarter fiscal 2020 results in a webcast and conference call today, Tuesday, February 4, 2020, 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 [phone] inside the U.S., or [phone] for international callers. The conference ID is 5638357.

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 live webcast at the Hamilton Lane Investor Relations website.