What is Hamilton Lane's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Hamilton Lane year over year?

Did Hamilton Lane beat or miss consensus estimates last quarter?

What were the key takeaways from Hamilton Lane’s earnings call?

What guidance did Hamilton Lane's management provide for the next earnings period?

What does Hamilton Lane do and what are its main business segments?

What is Hamilton Lane's gross profit margin?

What factors drove the changes in Hamilton Lane's revenue and profit?

- **Strategic Partnership Success**: $500M+ annual Guardian commitments and Evergreen co-investments to drive long-term fee growth. 
- **Evergreen Platform Surge**: 70% YoY AUM growth to $16B, with institutional adoption of multi-strategy tools. 
- **Fee Mix Optimization**: 67bps blended fee rate (vs 57bps in 2017), with specialized funds now 48% of fee-earning AUM. 
- **Strong Financial Momentum**: 31% YoY fee-related revenue growth; 37% FRE growth; $1.5B unrealized carry. 
- **Secondary Fund Expansion**: 7th secondary fund builds on $5.6B prior vintage; mid-market focus with scaling potential.

**【Management Opening Remarks】**
- Total asset footprint: $1 trillion (6% YoY growth). AUM: $146 billion (+8% YoY). Fee-related revenue: $507 million (+31% YoY). GAAP EPS: $4.35; Non-GAAP EPS: $4.41. Dividend declared: $0.54/share (10% increase YoY). 

**【CEO Commentary】**
- **Guardian Partnership**: $5 billion private equity portfolio oversight; $500M annual commitments for 10+ years; $250M Evergreen co-investments. Q4 2026 impact. 
- **Evergreen Platform**: AUM $16 billion (+70% YoY). Multi-strategy growth: $11.7B core fund; $2B+ credit Evergreen. 
- **Fee Mix Shift**: Blended fee rate 67bps (vs 57bps in 2017). Specialized funds now 48% of fee-earning AUM. 
- **Product Pipeline**: 7th secondary fund ($5.6B prior vintage); 2nd venture fund; infrastructure fund ($2B close). 

**【CFO Financial Commentary】**
- Management fees: $21M retro fees (down from $2M prior year). Fee-related revenue: +31% YoY. FRE: $255M (+37% YoY). Unrealized carry: $1.5B. 
- Expenses: +14% YoY (compensation +15%, G&A +24%). Revenue-related G&A offset by cost discipline. 
- **Guardian Impact**: Q4 2026 fees from Evergreen and SMA mandates; potential performance fees. Warrant dilution <1%. 

**【Q&A Highlights】**
- **Wealth Product Roadmap**: 2026 focus on scaling existing products vs launching new ones. 15-20% institutional flows expected to grow. 
- **Software Exposure**: Diversified portfolio limits risk; no concentration in software. 
- **Exit Activity**: 2026 outlook: stronger M&A and secondary market pricing equilibrium. 
- **Evergreen Institutional Use**: Model portfolios and tactical allocation tools gaining traction. 
- **Secondary Fund Growth**: $5.6B Fund VI (+40% YoY); mid-market focus with room to scale. 
- **AI Risks**: Granular due diligence on software assets; no broad industry impact expected.

Hamilton Lane Incorporated (HLNE) Q3 2026 Earnings Call Transcript

- **$1 Trillion Asset Milestone**: Total footprint crosses $1T, driven by 11% AUM growth to $145B.
- **Guardian Partnership**: $5B portfolio management + $5B+ capital deployment over 10 years, with Evergreen seed capital and revenue share incentives.
- **Evergreen Dominance**: 11 funds, $14.3B AUM (+100% YoY), with 34% of AUM in higher-fee products.
- **Tech Expansion**: Bloomberg Terminal integration, Securitize SPAC, and Novata sustainability platform growth.
- **Financial Strength**: 23% fee-related revenue growth, 50% FRE margin, and $1.4B unrealized carry balance.
- **Private Credit Resilience**: 1% default rate vs. 10% during GFC, with private credit outperforming public markets historically.

**【Management Opening Remarks】**
- Total asset footprint reached $1 trillion (6% YoY growth), with AUM at $145 billion (+11% YoY) and AUA at $860 billion (+5% YoY). 
- FYTD GAAP EPS of $2.98 and Non-GAAP EPS of $2.86, with a $0.54 dividend declared (10% increase YoY). 
- Fee-related revenue grew 23% YoY to $321.6 million, driven by Evergreen funds and performance fees.

**【CEO Commentary】**
- **Guardian Life Partnership**: $5 billion existing portfolio management and $500M/yr capital commitment for 10 years, with $250M seed capital for Evergreen expansion. Includes equity warrants and revenue share incentives.
- **Evergreen Platform Growth**: $14.3B AUM (+100% YoY), with $1.6B Q2 inflows. 11 funds now in suite, targeting $500M+ AUM within 12 months for new products.
- **Strategic Tech Initiatives**: 
  - Bloomberg partnership to distribute private market indices via Terminal.
  - Securitize SPAC transaction expected to yield >2x return on $25M investment.
  - Novata acquisition of Atlas Metrics to expand sustainability data solutions.
- **Private Credit Outlook**: Default rate at 1% (vs. 2.5% historical avg.), with private credit outperforming public markets historically.

**【CFO Financial Commentary】**
- FYTD management fees up 6% YoY ($20.7M retro fees in prior year vs. $0.8M now). 
- Specialized fund revenue +8% YoY, driven by Evergreen AUM growth. 
- Total expenses +11% YoY, with 70% of G&A growth tied to revenue-related costs.
- FRE margin improved to 50% (vs. 46% prior year), supported by $91M incentive fees.
- Unrealized carry balance at $1.4B (+14% YoY).
- Guardian deal: <1% dilution from warrants, with fees to scale as capital deploys.

**【Q&A Highlights】**
- **Guardian Deal Economics**: $500M/yr capital deployment will generate management fees on Evergreen funds (15-20bp) and SMA fees (20-30bp). Initial impact modest, scaling over 10 years.
- **SMA Pipeline**: $ billions in uncontracted deals, with focus on Evergreen solutions (34% AUM mix vs. 20% 2 years ago).
- **Fee Holidays**: 12-18 month fee holidays for new Evergreen funds, with $1B AUM currently in holiday period.
- **Expense Impact**: Guardian team transition minimal cost impact, as hires offset by existing open roles.
- **Evergreen Fee Rate**: Blended rate rising as higher-fee products (Evergreen, secondaries) grow to 45% of AUM (vs. 30% 2 years ago).

Hamilton Lane Incorporated (HLNE) Q2 2026 Earnings Call Transcript

- **AUM Growth**: Total AUM up 9% YoY to $141 billion, driven by Evergreen AUM (+65% YoY to $12.5 billion) and new product launches.
- **FRE Performance**: Fee-related earnings rose 31% YoY to $84 million, with margin expanding to 51%.
- **Distribution Expansion**: Differentiated partnerships like DBS Private Banking and 6 new product launches in 12 months.
- **Incentive Fee Outlook**: Higher crystallization expected in H2 2025 as macro improves and hold periods mature.
- **Expense Discipline**: G&A stable at $33 million/quarter, offsetting commission growth with cost savings.

**【Management Opening Remarks】**
- Total asset footprint reached $986 billion (+5% YoY), with AUM at $141 billion (+9% YoY) and AUA at $845 billion (+4% YoY). Growth driven by market value expansion and new mandates.
- Management and advisory fees decreased 4% YoY due to $21 million retro fees in Q1 2025 vs. $0.3 million in Q1 2026. Fee-related earnings (FRE) grew 31% YoY to $84 million, with GAAP EPS of $1.28 and a $0.54 dividend declared.

**【CEO Summary Section】**
- Fee-earning AUM rose to $74 billion (+10% YoY), with 10% growth in customized separate accounts and 16% growth in specialized funds. Evergreen AUM approached $12.5 billion (+65% YoY), driven by net inflows of $1.2 billion and strong performance.
- New product launches include an Asian private markets fund and a European multi-strategy product. Blended fee rate improved to 64 basis points, benefiting from higher-margin Evergreen funds.

**【CFO Financial Commentary】**
- FRE margin expanded to 51% (vs. 45% YoY), supported by $29 million fee-related performance revenues. Total expenses decreased $8 million YoY, with lower incentive compensation offsetting higher G&A costs.
- Unrealized carry balance increased 6% YoY to $1.3 billion, reflecting strong private market investments. G&A expenses remain stable at ~$33 million/quarter, driven by wirehouse commissions.

**【Q&A Key Highlights】**
- **Distribution Strategy**: Expanded relationships with wealth managers and technology platforms, including a differentiated approach with DBS Private Banking in Asia.
- **SMA Growth**: Acceleration from new wins (+$937 million QoQ), re-ups, and investment activity, despite elongated sales cycles.
- **Incentive Fees**: Expect higher crystallization in H2 2025 if macro conditions support exits, with average hold periods at ~5 years.
- **Evergreen Demand**: 15% of Evergreen flows from institutions, including smaller allocators and large investors using Evergreen as a tactical portfolio tool.
- **Expense Outlook**: Stable G&A at $33 million/quarter, with commissions tied to wirehouse growth offsetting cost controls.

Hamilton Lane Incorporated (HLNE) Q2 2025 Earnings Call Transcript

- **Record Asset Growth**: AUM up 11% to $138B, Evergreen AUM hits $10.7B with 15% institutional capital allocation.
- **Evergreen Performance Edge**: 10% annualized returns vs 16% IRR for drawdown funds, outperforming MSCI by 200+ bps.
- **Funding Momentum**: $1.3B raised in Direct Equity Fund, $735M in Infrastructure Fund, and $340M in Strategic Opportunities Fund.
- **Tech Differentiation**: 73 Strings AI platform supported by $15M Series B from top PE firms.
- **Profitability**: 48% FRE margin (vs 45% prior), stable outlook with 30% comp ratio on fees.
- **Dividend Strength**: 10% dividend increase to $2.16 annual, 8-year streak of double-digit growth.


**【Management Overview】**
- Total asset footprint reached $958 billion, up 4% YoY, with AUM of $138 billion (+11%) and AUA of $819 billion (+3%).
- Fee-related earnings grew 34% YoY to $276 million, driven by Evergreen fund expansion and cost control.
- Dividend increased 10% to $2.16 annually, marking 8 consecutive years of double-digit growth.

**【CEO - Market & Business Update】**
- Highlighted private equity resilience vs public markets (MSCI World Index -50% vs PE -20% in crises), with Evergreen funds outperforming drawdown funds 10% vs 16% IRR over 8 years.
- Evergreen AUM reached $10.7 billion, with 15% of capital from 150 institutions, including 15% of new Evergreen raises.
- Strategic tech investment (73 Strings) enhances middle office capabilities, supported by $15M Series B from top PE firms.

**【CEO - Fundraising & Product Growth】**
- Specialized funds AUM grew 16% to $33B, with key raises:
  - 6th Direct Equity Fund: $1.3B ($51M committed, $130M net)
  - Infrastructure Fund: $735M
  - Strategic Opportunities Fund: $340M
  - Evergreen infrastructure and secondaries products launched with $400M AUM.

**【CFO - Financial Performance】**
- Management fees up 14% to $514M, with Evergreen retro fees contributing $21M.
- Incentive fees surged 95% to $199M, driven by $58M one-time crystallization of Evergreen performance fees.
- Fee-related earnings margin expanded to 48% (vs 45% prior), excluding stock-based comp.
- G&A expenses rose 18% to $5M due to tech growth, offset by cost discipline.

**【CFO - Structural Changes】**
- Evergreen funds now use high-watermark performance fees (85% of Evergreen AUM), reducing management fee to 1.4% and incentive fee to 10%.
- Excluded stock-based comp from FRE, aligning with industry practices.

**【Q&A Highlights】**
- **Margin Outlook**: Stable 48% FRE margin expected, with 30% comp ratio on management fees.
- **Evergreen Institutional Adoption**: 15% of Evergreen capital from institutions, driven by cost efficiency and compounding benefits.
- **Market Volatility Strategy**: Capitalizing on deal flow, talent acquisition, and tech innovation (e.g., 73 Strings).
- **Separate Accounts Growth**: Pipeline of $ billions in contracted commitments to flow as markets normalize.


Hamilton Lane Incorporated (HLNE) Q4 2025 Earnings Conference Call Transcript

- **Revenue Growth**: Management fee revenue +18% YoY, FRE +21% YoY.
- **Fee Expansion**: Blended fee rate 60bps (vs 57bps at IPO), Evergreen AUM +66% YoY.
- **Blockchain Innovation**: New Republic partnership to launch digital private market solutions Q2 2025.
- **Profitability**: FRE margin stable at 43%, offsetting commission costs with tech-enabled efficiency.
- **Dividend Growth**: 10% annual dividend increase maintained, $0.49/share declared.


**【Management Overview】**
- Fiscal Q3 2025: Management & advisory fee revenue up 18% YoY, fee-related earnings (FRE) up 21% YoY.
- GAAP EPS: $4.15 (based on $167M net income); Non-GAAP EPS: $3.82 (based on $208M adjusted net income).
- Dividend declared: $0.49/share, maintaining 10% annual growth target.

**【Erik Hirsch - Strategic Highlights】**
1. **Asset Growth**: Total AUM $956B (+6% YoY); Fee-earning AUM $71B (+13% YoY).
   - Customized SMAs: $39.8B (+8% YoY).
   - Specialized Funds: $31.2B (+19% YoY, +$5B net inflows).
2. **Fee Rate Expansion**: Blended fee rate 60bps (vs 57bps at IPO), driven by Evergreen product mix.
3. **Evergreen Momentum**: 2024 AUM growth 66% ($9.5B AUM), 2023-2024 CAGR 66%.
4. **Blockchain Partnership**: New Republic collaboration to launch digital private market solutions, Q2 2025 launch.

**【Jeffrey Armbrister - Financial Breakdown】**
1. **Revenue Components**:
   - Specialized Funds: +28% YoY ($50.9M), driven by Evergreen ($3.8B AUM growth) & secondary funds.
   - SMAs: +6% YoY ($5.4M), from new mandates & re-ups.
   - Incentive Fees: $129M (+163% YoY), boosted by secondary fund monetization.
2. **Expense Management**:
   - Total expenses +18% YoY ($67.2M), offset by cost savings in discretionary areas.
   - Compensation: +10% YoY ($55.7M), including equity awards ($30M/yr run rate).
   - FRE Margin: 43% (stable YoY).
3. **Balance Sheet**: $1.3B unrealized carry balance, $181.9M incentive fees recognized YoTD.

**【Q&A Key Themes】**
1. **Client Migration to Funds**: Driven by secondary market exposure (J-curve mitigation) & co-investment opportunities.
2. **Competitive Dynamics**: Expecting fee compression in Evergreen, but scale & tech partnerships (e.g., blockchain) provide differentiation.
3. **Margin Outlook**: Stability in FRE margin due to commission offsets, long-term potential for expansion as wirehouse flows mature.
4. **Equity-Based Compensation**: $30M/yr impact, tied to stock price targets ($150, $190, $230/share), supporting retention & alignment.


Actual											0.59	0.13	0.78	0.87	0.95	0.84	1.38	1.27	0.89	0.92	1.02	0.43	0.96	0.94	0.89	0.71	1.38	1.51	1.07	1.25	1.21	1.31	1.54	1.55
Forecast											0.4895	0.26	0.6043	0.5694	0.7546	0.6838	1.0472	0.9047	0.7804	0.8394	0.5922	0.8081	0.8272	0.8573	0.9369	0.9201	1.0125	1.0973	1.0905	1.0989	1.1725	0.988	1.1013	1.321
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+20.53%	-50.00%	+29.07%	+52.79%	+25.89%	+22.84%	+31.78%	+40.38%	+14.04%	+9.60%	+72.24%	-46.79%	+16.05%	+9.65%	-5.01%	-22.83%	+36.30%	+37.61%	-1.88%	+13.75%	+3.20%	+32.59%	+39.83%	+17.34%

HLNE

HLNE fundamentals

HLNE Q3 2026 Earnings

Earnings Call

You can ask Aime

HLNE

HLNE fundamentals

HLNE Q3 2026 Earnings

Earnings Call

HLNE Earnings Call Summary for Q3/202611:00 AM on Feb 3, 2026

HLNE Earnings Call Summary for Q2/202610:00 AM on Nov 4, 2025

HLNE Earnings Call Summary for Q1/202611:00 AM on Aug 5, 2025

HLNE Earnings Call Summary for Q4/202511:00 AM on May 29, 2025

HLNE Earnings Call Summary for Q3/202511:00 AM on Feb 4, 2025

You can ask Aime