General Information This section provides general administrative details for Hamilton Lane Incorporated's quarterly report, covering filing status and common stock - The document is a Quarterly Report on Form 10-Q for Hamilton Lane Incorporated for the period ended September 30, 2021[2](index=2&type=chunk) - Hamilton Lane Incorporated is classified as a **large accelerated filer**[4](index=4&type=chunk) - The report contains forward-looking statements subject to known and unknown risks, and past fund performance is not indicative of future stock performance or future fund results[12](index=12&type=chunk)[13](index=13&type=chunk) Common Stock Shares Outstanding | Common Stock Type | Shares Outstanding (as of Oct 29, 2021) | | :---------------- | :-------------------------------------- | | Class A Common Stock | 37,189,072 | | Class B Common Stock | 16,739,846 | PART I - FINANCIAL INFORMATION This part presents the unaudited condensed consolidated financial statements and management's discussion and analysis for Hamilton Lane [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Hamilton Lane's unaudited condensed consolidated financial statements, including Balance Sheets, Income, Comprehensive Income, Stockholders' Equity, and Cash Flows, with detailed accounting notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides a snapshot of Hamilton Lane's financial position at specific points in time, detailing assets, liabilities, and equity Balance Sheet Summary (in thousands) | Metric | Sep 30, 2021 (in thousands) | Mar 31, 2021 (in thousands) | Change | | :----------------------------- | :-------------------------- | :-------------------------- | :----- | | Total Assets | $1,233,973 | $1,136,519 | +$97,454 | | Total Liabilities | $553,721 | $546,318 | +$7,403 | | Total Equity | $404,252 | $314,201 | +$90,051 | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) This section details Hamilton Lane's revenues, expenses, and net income over specific reporting periods, highlighting profitability and earnings per share Income Statement Summary (in thousands, except EPS) | Metric (in thousands) | 3 Months Ended Sep 30, 2021 | 3 Months Ended Sep 30, 2020 | Change (YoY) | 6 Months Ended Sep 30, 2021 | 6 Months Ended Sep 30, 2020 | Change (YoY) | | :-------------------- | :-------------------------- | :-------------------------- | :----------- | :-------------------------- | :-------------------------- | :----------- | | Total Revenues | $96,320 | $84,431 | +14.1% | $175,315 | $154,175 | +13.7% | | Total Expenses | $49,819 | $46,117 | +7.9% | $93,064 | $87,028 | +6.9% | | Net Income | $84,820 | $44,599 | +90.2% | $129,501 | $49,567 | +161.3% | | Net Income Attributable to HLI | $52,145 | $21,813 | +139.1% | $80,313 | $25,059 | +220.5% | | Basic EPS (Class A) | $1.41 | $0.66 | +113.6% | $2.20 | $0.79 | +178.5% | | Diluted EPS (Class A) | $1.41 | $0.66 | +113.6% | $2.19 | $0.79 | +177.2% | | Dividends Declared per Share (Class A) | $0.35 | $0.313 | +11.8% | $0.70 | $0.625 | +12.0% | [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This section presents Hamilton Lane's total comprehensive income, including net income and other comprehensive income components Comprehensive Income Summary (in thousands) | Metric (in thousands) | 3 Months Ended Sep 30, 2021 | 3 Months Ended Sep 30, 2020 | Change (YoY) | 6 Months Ended Sep 30, 2021 | 6 Months Ended Sep 30, 2020 | Change (YoY) | | :-------------------- | :-------------------------- | :-------------------------- | :----------- | :-------------------------- | :-------------------------- | :----------- | | Net Income | $84,820 | $44,599 | +90.2% | $129,501 | $49,567 | +161.3% | | Total Comprehensive Income Attributable to HLI | $52,145 | $21,897 | +138.1% | $80,313 | $25,137 | +219.5% | [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This section outlines changes in Hamilton Lane's stockholders' equity, reflecting net income, dividends, and other equity transactions Stockholders' Equity Summary (in thousands) | Metric (in thousands) | Balance at Mar 31, 2021 | Balance at Sep 30, 2021 | Change | | :-------------------- | :---------------------- | :---------------------- | :----- | | Total Equity | $314,201 | $404,252 | +$90,051 | - Net income for the six months ended September 30, 2021, contributed **$80,313 thousand** to retained earnings[23](index=23&type=chunk) - Dividends declared for the six months ended September 30, 2021, totaled **$25,513 thousand**[23](index=23&type=chunk) - Secondary offerings resulted in a net decrease of **$1 thousand** in total equity for the six months ended September 30, 2021, with **$4,097 thousand** added to additional paid-in capital and **$4,098 thousand** reduction in non-controlling interests in HLA[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section presents Hamilton Lane's cash inflows and outflows from operating, investing, and financing activities over specific periods Cash Flow Summary (in thousands) | Metric (in thousands) | 6 Months Ended Sep 30, 2021 | 6 Months Ended Sep 30, 2020 | Change (YoY) | | :-------------------- | :-------------------------- | :-------------------------- | :----------- | | Net cash provided by operating activities | $83,923 | $89,634 | -6.4% | | Net cash used in investing activities | $(19,609) | $(17,351) | +13.0% | | Net cash used in financing activities | $(65,120) | $(40,594) | +60.4% | | (Decrease) increase in cash, cash equivalents, and restricted cash | $(806) | $31,819 | -102.5% | | Cash, cash equivalents, and restricted cash at end of period | $89,571 | $85,029 | +5.3% | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and additional information supporting the condensed consolidated financial statements [1. Organization](index=12&type=section&id=1.%20Organization) This note describes Hamilton Lane Incorporated's corporate structure and the nature of its business operations - HLI's economic interest in Hamilton Lane Advisors, L.L.C. (HLA) increased from **67.2%** (March 31, 2021) to **68.9%** (September 30, 2021)[31](index=31&type=chunk) - HLA, a registered investment advisor, provides asset management and advisory services to institutional investors, specializing in private markets portfolios including private equity, debt, and equity-related investments[32](index=32&type=chunk) [2. Summary of Significant Accounting Policies](index=12&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the key accounting principles and methods used in preparing the financial statements - Unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information[33](index=33&type=chunk) - The precise impact of the COVID-19 pandemic on the Company's financial statements is currently not possible to predict[34](index=34&type=chunk)[35](index=35&type=chunk) - Investments in Partnerships are accounted for using a three-month lag due to timing of financial information[36](index=36&type=chunk) - Fair value measurements are categorized into a three-level hierarchy: Level 1 (quoted prices in active markets), Level 2 (observable inputs), and Level 3 (unobservable inputs)[37](index=37&type=chunk)[39](index=39&type=chunk) [3. Revenue](index=14&type=section&id=3

Financial Data and Key Metrics Changes - Year-to-date management and advisory fee revenue grew by 12%, while fee-related earnings increased by 24% compared to the prior year period [7] - GAAP EPS for the year-to-date was $2.19 based on $80 million of GAAP net income, and non-GAAP EPS was $2.23 based on $120 million of adjusted net income [7] - Total asset footprint reached $805 billion, with AUM growing by $23 billion or 32% year-over-year [11] - AUA also saw significant growth, increasing by $235 billion or 50% year-over-year [12] - Fee-earning AUM grew by $5.4 billion or 14% year-over-year, driven by positive fund flows [18] Business Line Data and Key Metrics Changes - Fee-earning AUM from customized separate accounts stood at $27.4 billion, growing 11% over the past 12 months [19] - Specialized funds achieved positive inflows of $2.6 billion, resulting in an 18% increase in fee-earning AUM [21] - Revenue from specialized funds increased by $5.8 million or 9% compared to the prior year period [37] - Revenue from customized separate accounts increased by $2.1 million due to new accounts and re-ups from existing clients [39] Market Data and Key Metrics Changes - The evergreen platform saw over $192 million of monthly net inflows, indicating strong demand in the private wealth market [14][15] - The company welcomed its first client from Mexico, expanding its geographic footprint [20] Company Strategy and Development Direction - The company is focusing on growing its evergreen platform, which provides private wealth channels with direct exposure to private markets [13] - Wealth management and private wealth investing will continue to be strategic priorities, with a focus on expanding distribution efforts [35] - The company is actively pursuing new strategic partnerships and technology investments to enhance its offerings [31][33] Management's Comments on Operating Environment and Future Outlook - Management noted that the current operating environment is still non-normalized, with rising wage pressures expected to impact margins [46] - The company is optimistic about the growth opportunities in the private wealth market, particularly through its evergreen products [15][56] - Management emphasized the importance of re-ups from existing clients, which contribute positively to fee rates and margins [51] Other Important Information - The company announced a $12 million gain from the sale of Cobalt LP to FactSet, marking a successful exit from a long-term investment [30] - The launch of Novata, a public benefit corporation focused on ESG data collection, was highlighted as a significant new initiative [31] Q&A Session Summary Question: FRE margins and future expectations - Management indicated that current margins are not normalized and may be impacted by rising costs and wage pressures, but strong performance in specialized funds is helping to maintain margins [46][48] Question: Re-upping pace and client behavior - Management noted that re-upping varies by client maturity, with a general trend of positive flows in upward-moving markets [50][51] Question: Total addressable market for separate accounts - There remains a significant number of entities yet to enter the asset class, indicating growth opportunities in the market [55][56] Question: SMA client profiles and pipeline - New clients for SMAs are coming from diverse geographies and institution types, with a growing distribution network supporting this expansion [67] Question: Fee rates and margin trends - Recent fee rate changes in SMAs were attributed to specific client renegotiations, but overall trends remain stable [70][71] Question: Competitive landscape for secondaries - The growth in the secondaries market is significant, but management believes their established position will allow them to maintain market share despite increased competition [74] Question: Retail wealth management opportunities - Management is focused on expanding their presence in the retail wealth management channel, with a strategy to build relationships gradually [78][79] Question: Co-investment fund competitive advantages - The company’s strong capital base and experienced team position it well in the co-investment space, making it a preferred partner for fund managers [82][83]

Fiscal Year 2022 Second Quarter Results Earnings Presentation - November 2, 2021 1 Hamilton Lane l Global Leader in the Private Markets Today's Speakers Mario Giannini Chief Executive Officer Erik Hirsch Vice Chairman Atul Varma Chief Financial Officer John Oh Investor Relations Manager 2 Hamilton Lane l Global Leader in the Private Markets Period Highlights Business Performance • Assets under management and fee-earning assets under management were $96 billion and $45 billion, respectively, as of September ...

Hamilton Lane Inc. (NASDAQ:HLNE) Q1 2022 Earnings Conference Call August 3, 2021 11:00 AM ET Company Participants John Oh - VP of IR Mario Giannini - CEO Erik Hirsch - Vice Chairman Atul Varma - CFO Conference Call Participants Michael Cyprys - Morgan Stanley Ken Worthington - JPMorgan Alex Blostein - Goldman Sachs Margo Rybeck - KBW Adam Beatty - UBS Operator Thank you all for standing by, and welcome to the Hamilton Lane Incorporated First Quarter Fiscal Year 2022 Earnings Conference Call. [Operator Instr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 HAMILTON LANE INCORPORATED (Exact name of Registrant as specified in its charter) Delaware 26-2482738 (State or other jurisdiction of incorporation or organization) 110 Washington Street, Suite 1300 Conshohocken, PA 19428 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXC ...

Hamilton Lane Incorporated (NASDAQ:HLNE) Q4 2021 Earnings Conference Call May 27, 2021 11:00 AM ET Company Participants John Oh – Manager-Investor Relations Mario Giannini – Chief Executive Officer Erik Hirsch – Vice Chairman Atul Varma – Chief Financial Officer and Treasurer Conference Call Participants Michael Cyprys – Morgan Stanley Ken Worthington – JPMorgan Robert Lee – KBW Chris Kotowski – Oppenheimer Adam Beatty – UBS Operator Thank you for standing by. And welcome to the Hamilton Lane Incorporated F ...

and Full Year Results Earnings Presentation - May 27, 2021 1 Hamilton Lane l Global Leader in the Private Markets Fiscal Year 2021 Fourth Quarter Today's Speakers Mario Giannini Chief Executive Officer Erik Hirsch Vice Chairman Atul Varma Chief Financial Officer John Oh Investor Relations Manager 2 Hamilton Lane l Global Leader in the Private Markets Period Highlights Business Performance • Assets under management and fee-earning assets under management were approximately $88 billion and $42 billion, respec ...

Hamilton Lane Incorporated (NASDAQ:HLNE) Q3 2021 Earnings Conference Call February 2, 2021 11:00 AM ET Company Participants John Oh - Vice President, Investor Relations Andrea Kramer - CEO, Hamilton Lane Alliance Holdings Erik Hirsch - Vice Chairman Atul Varma - Chief Financial Officer Conference Call Participants Ken Worthington - JP Morgan Alexander Blostein - Goldman Sachs Chris Kotowski - Oppenheimer & Company Operator Ladies and gentlemen thank you for standing-by and welcome to today’s Hamilton Lane I ...

Earnings Presentation - February 2, 2021 1 Hamilton Lane l Global Leader in the Private Markets Fiscal Year 2021 Third Quarter Results Today's Speakers Erik Hirsch Vice Chairman Andrea Kramer Hamilton Lane Alliance CEO Atul Varma Chief Financial Officer John Oh Investor Relations Manager 2 Hamilton Lane l Global Leader in the Private Markets Period Highlights Business Performance • Assets under management and fee-earning assets under management were approximately $76 billion and $40 billion, respectively, a ...

Financial Data and Key Metrics Changes - Year-to-date management and advisory fee revenue grew by nearly 12% while fee-related earnings increased by over 14% compared to the prior year period [5] - GAAP EPS for the year-to-date period was $0.79 based on $25.1 million of GAAP net income, while non-GAAP EPS was $0.91 based on $48.8 million of adjusted net income [5] - Total asset footprint reached approximately $547 billion, representing a 14% year-over-year increase [14] - Fee-related earnings were up 14% versus the prior year period due to revenue growth [33] Business Line Data and Key Metrics Changes - Total fee-earning AUM grew by $3.2 billion or nearly 9% year-over-year, driven by positive fund flows from both specialized funds and customized separate accounts [17] - Fee-earning AUM from customized separate accounts stood at $24.6 billion, growing approximately 7% over the past 12 months [18] - Specialized funds achieved positive inflows of nearly $1.5 billion, resulting in an 11% increase in fee-earning AUM [19] Market Data and Key Metrics Changes - The rebound in private markets has not been uniform, with growth and technology sectors performing well while energy and some regional markets struggled [13] - Total AUA increased by over $68 billion, approximately 14% year-over-year [15] Company Strategy and Development Direction - The company is focused on expanding its Asian presence with a new office in Singapore and a new headquarters in Philadelphia [9][10] - The firm aims to enhance diversity and inclusion within its workforce, with women and minorities representing 50% of the global workforce [12] - The company is adapting its fee structures to meet investor preferences, offering choices between traditional and invested capital fee models [24] Management's Comments on Operating Environment and Future Outlook - Management noted that investors have maintained or increased their allocations, with a small shift favoring growth-oriented investments [13] - The firm expects continued growth in fee-earning AUM driven by reups from existing clients and the addition of new clients [17] - Management expressed optimism about the market's strength and the potential for increased realization activity due to favorable conditions [65] Other Important Information - The company declared a dividend of $31.25 per share, marking a 13.6% increase over the previous fiscal year [5] - The firm recognized $6.1 million in retro fees from the secondary fund, compared to $2.8 million from the prior year [30] Q&A Session Summary Question: Outlook for distributions and drivers - Management indicated that distributions are influenced by the aging of assets and timing mismatches between reups and expirations, with growth expected to remain strong despite timing noise [40][41] Question: New fee structure impact - The new fee structure was designed to provide investors with choices based on their preferences for upfront versus back-end fees, with early indications of strong demand [43] Question: Operating leverage and expense growth - Management acknowledged positive operating leverage but noted that G&A expenses are expected to rise as travel and other activities normalize [46][47] Question: Credit fund strategy - The credit fund is opportunistic, allowing for tactical adjustments based on market conditions, focusing on performing credit currently [74] Question: Opening of Singapore office - The Singapore office aims to enhance the firm's presence in Asia, aligning with client investment activities in the region [75]