Hamilton Lane Reports Fiscal Year 2025 Results with $713 Million in Revenue

**Hamilton Lane Reports Fiscal Year 2025 Results, Driven by Growth in Management and Incentive Fees**

Hamilton Lane Incorporated (HLNE) reported its financial results for the fiscal year ended March 31, 2025, showcasing growth in key areas of its business. The global private markets investment solutions provider reported total revenues of $713 million, a significant increase from $553.8 million in the previous fiscal year. This growth was primarily fueled by a rise in management and advisory fees, which reached $513.9 million, up from $451.9 million in fiscal year 2024. Incentive fees also played a crucial role, increasing to $198.3 million compared to $101.9 million in the prior year. The company's assets under management (AUM) stood at approximately $138 billion as of March 31, 2025, while assets under advisement (AUA) reached $819 billion.

The increase in management and advisory fees was attributed to growth in specialized funds, particularly evergreen funds and the latest secondary fund, which contributed significantly to fee-earning AUM. Customized separate accounts also saw revenue growth due to new accounts and additional allocations from existing clients. Incentive fees benefited from tax-related carried interest distributions and performance fees from a specialized fund. However, the company's expenses also increased, with compensation and benefits rising to $274.5 million from $204 million in the previous year, driven by higher salaries, bonuses, and equity-based compensation. General, administrative, and other expenses also increased to $120.9 million.

Key operational developments included a diversified client base of over 2,300 institutions and intermediaries, with no single client accounting for more than 2% of management and advisory fee revenues. Approximately 39% of the company's fiscal 2025 management and advisory fee revenues came from clients based outside of the United States. The company also highlighted its commitment to responsible investment, integrating environmental, social, and governance (ESG) factors into its investment process. Employee headcount stood at approximately 760 as of March 31, 2025.

Looking ahead, Hamilton Lane aims to leverage its market-leading position, develop innovative private markets solutions, diversify its client base, and expand its distribution channels. The company also intends to expand its global presence and leverage proprietary databases and analytics to enhance its service offerings. The company declared a quarterly dividend of $0.54 per share of Class A common stock, payable on July 7, 2025, to shareholders of record as of June 20, 2025.