📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

Hamilton Lane Incorporated is a private equity and venture capital firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. The firm manages alternative investment strategies like direct credit, direct, fund of fund, evergreen and real assets. For primary and secondary fund of fund investments, the firm focuses to invest in private equity, buyout, special situations, credit, growth equity, middle market, mature, turnarounds, mezzanine and venture capital funds. The firm prefers to invest in disruptive technologies and innovative companies. It prefers to invest in space, engine, alternative energy resources, environmental & facilities services, households durables, leisure products, textiles, manufacturing services, water purification, online training service, healthcare services & technology, energy, industrials, commercial services, internet software & services, consumer discretionary, health care, real estate, information technology, tech-enabled businesses, financials, utilities, and consumer services. The firm prefers to invest in Africa/Middle East, Asia/Pacific, Europe, Southeast Asia, Korea, China, India, Latin America and Caribbean, United States of America, New York, Florida, Arizona, Nevada, New Mexico, Oregon, Washington, California and surrounding states, Australia, Japan, Brazil, United Kingdom, and Canada. The firm prefers to invest between $0.25 million and $100 million in companies with small- to mid-sized enterprise values. It prefers to take majority stake. Hamilton Lane Incorporated was founded in 1991 and is based in Philadelphia, Pennsylvania with additional offices across Europe, North America, Asia Pacific and the Middle East.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding HLNE

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	157.4K	$15.6M	0.02%	Mar 2026
Steve Cohen Point72 Asset Management	58.8K	$5.8M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q1 2026

Confident Specific

Management repeatedly uses phrases like 'growth story continues', 'solid quarter', 'executing well', and 'very pleased'. Specific numbers are given for AUM growth (9%), FRE growth (31%), and Evergreen net inflows ($1.2B). There is no hedging or defensive language.

Q2 2026

Confident Specific

The management team consistently delivered a confident message backed by specific data points: they led with record asset footprint, dismissed credit crisis fears with concrete portfolio metrics, and provided detailed updates on partnerships and product launches.

Q3 2026

Confident Specific

Management uses phrases like 'very proud', 'outstanding results', 'real momentum', 'strong growth', 'clear proof point', 'excited', and provides specific numbers such as 'over $1.2 billion of net inflows', '$16 billion Evergreen AUM', and 'FRE up 37%'. The tone is consistently positive and detailed.

Q4 2026 latest

Confident Specific

Management repeatedly uses specific data points to counter negative headlines, e.g., 'Global buyout deal volume rose more than 40%', 'exit value was up nearly 50%', 'we turned down nearly 99% of deal flow'. Language is assertive and detailed, with explicit rebuttals of industry misconceptions.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis for Hamilton Lane appears stronger after this call. The firm demonstrated that its Evergreen platform can attract net inflows even during industry-wide redemption pressure, with no gates imposed. The detailed defense of secondary market practices and strong performance data (e.g., exits at valuations above prior marks) reinforce management's credibility. However, the lack of explicit forward guidance on flows or fee-earning AUM leaves some uncertainty. Key watch items include: sustained Evergreen net inflows beyond April, progress of closed-end fundraises (secondary fund VII and GP-led fund), and the impact of new distribution hires. The dividend increase and buyback authorization signal confidence but also indicate limited near-term M&A. Overall, the thesis is bolstered by operational resilience and product diversification, but investors should monitor whether the March slowdown was temporary or indicative of a broader trend.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Hamilton Lane reports $1 trillion asset footprint, AUM $142B, Evergreen AUM $17.5B up 64% YoY.

Revenue & Profitability

For fiscal 2026, total management and advisory fees were $584 million, up 14% year-over-year. Total fee-related revenue reached $687 million, a 20% increase. Fee-related earnings were $345 million, up 25%. GAAP net income was $249 million, resulting in GAAP EPS of $5.92; adjusted net income was $321 million, yielding non-GAAP EPS of $5.90. The Board approved an 11% increase in the annual dividend to $2.40 per share.

Outlook

Management sees private equity transitioning to a healthier deal-doing and exit environment, with global buyout deal volume up over 40% in 2025 and exit value up nearly 50%. Private credit fundamentals are solid with sub-2% defaults, and secondaries offer compelling risk-reward amid favorable supply-demand dynamics. Infrastructure fundraising reached a record year, and real estate is moving from valuation reset to opportunity. However, March 2026 saw elevated redemption requests and slower flows due to market narrative headwinds.

Growth Drivers

Key growth drivers include the Evergreen platform, which ended fiscal 2026 at over $17.5 billion in AUM (64% YoY growth) and generated over $1 billion in net inflows in Q4 despite a challenging March. The Equity Opportunities Fund raised $2.8 billion, surpassing its prior fund size by over 35%. New product launches include the Hamilton Lane Credit Income Fund (CIF) and a first GP-led secondary fund, with strong institutional demand across separate accounts and Evergreen products.

Balance Sheet & CapEx

Not discussed in this earnings call. The company made strategic balance sheet investments in Corastone and Republic to strengthen digital infrastructure, but no explicit capital expenditure guidance or plans were provided.

Margins

Fee-related earnings (FRE) margin for fiscal 2026 was 50%, up from 48% in the prior year, benefiting from strong fee-related performance revenues. Total expenses increased $38 million year-over-year, driven by compensation and benefits ($25 million increase from headcount and equity-based compensation) and G&A ($13 million increase, largely revenue-related expenses such as third-party commissions and platform fees).

Key Risks

Management flagged risks from market narrative headwinds, as seen in March 2026 when redemption requests increased and gross sales slowed, particularly in credit and global multi-strategy evergreen funds. Analysts raised concerns about liquidity management in Evergreen funds if redemptions exceed caps, but management noted they have never imposed gates and maintain cash reserves and credit lines. Fee scrutiny on evergreen structures was also discussed, though management believes the fee model is competitive.

Generated by AI · Q4 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-08-04

Asset footprint exceeded $1 trillion, with strong year-over-year growth in AUM, fee-related revenue, and earnings. Evergreen and specialized funds drove inflows, while new product launches and strategic investments contributed to future growth. Margin expansion and disciplined capital allocation support a positive outlook.

Q4 2026 Q4 2026 2026-05-21

Total asset footprint reached $1 trillion, with strong growth in AUM, fee-related earnings, and evergreen products. Dividend increased 11%, and new product launches and digital investments support continued expansion. Institutional flows and exit activity are expected to rise.

Q3 2026 Q3 2026 2026-02-03

Total asset footprint exceeded $1 trillion, with strong YoY growth in AUM, fee-related revenue, and earnings. The Guardian partnership closed, adding significant assets and long-term commitments. Evergreen and specialized funds drove segment growth, while expense increases were offset by higher revenues.

Q2 2026 Q2 2026 2025-11-04

Surpassed $1T in assets, with AUM up 11% and strong growth in Specialized Funds and Evergreen products. Announced a major Guardian Life partnership and expanded technology/data initiatives, driving higher fee-related revenue and margins.

Q1 2026 Q1 2026 2025-08-05

AUM grew 9% year-over-year to $141B, driven by strong Evergreen and specialized fund growth, while fee-related earnings rose 31%. Despite a 4% decline in management fees due to lower retro fees, margins improved and new product launches and strategic partnerships are fueling expansion.

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