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HAMILTON LANE INCORPORATED REPORTS STRONG FOURTH FISCAL QUARTER AND FISCAL YEAR 2024 RESULTS, WITH MANAGEMENT AND ADVISORY FEES GROWING BY 22% AND ASSETS UNDER MANAGEMENT GROWING BY 11% YEAR-OVER-YEAR
CONSHOHOCKEN, Pa., May 23, 2024 /PRNewswire/ -- Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ:HLNE) today reported its results for the fourth fiscal quarter and full fiscal year ended March 31, 2024.
FISCAL YEAR 2024 HIGHLIGHTS
Assets under management – Total assets under management of $124 billion grew 11% year-over-year. Fee-earning assets under management increased 15% to $66 billion over the same period.
Revenue – Management and advisory fees increased 22% to $451.9 million for fiscal 2024.
Carried Interest – Unrealized carried interest balance of $1.2 billion was up 19% year-over-year.
Earnings per share – GAAP EPS of $3.69 on $140.9 million of GAAP net income for fiscal 2024.
Dividend – Declared a quarterly dividend of $0.49 per share of Class A common stock to record holders at the close of business on June 14, 2024 that will be paid on July 5, 2024. The target full-year dividend of $1.96 represents a 10% increase from the prior fiscal year dividend.
Hamilton Lane issued a full detailed presentation of its fourth quarter and full fiscal year 2024 results, which can be accessed by clicking here.
Hamilton Lane Co-CEO Erik Hirsch commented: "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. Our market continues to offer significant opportunity and we remain intensely focused on delivering for our clients and shareholders."
Conference CallHamilton Lane will discuss fourth quarter and full fiscal year 2024 results in a webcast and conference call today,