Financial Data and Key Metrics Changes - Total asset footprint increased to $986 billion, representing a 5% year-over-year growth [4] - Assets Under Management (AUM) grew by $11 billion or 9% year-over-year, reaching $141 billion [5] - Assets Under Administration (AUA) rose by $35 billion or 4% year-over-year, totaling $845 billion [5] - Quarterly GAAP EPS was $1.28 based on $54 million of GAAP net income, while non-GAAP EPS was $1.31 based on $72 million of adjusted net income [6] - Fee-related earnings for the quarter increased by 31% compared to the prior year period [6] Business Line Data and Key Metrics Changes - Total fee-earning AUM stood at $74 billion, growing by $6.7 billion or 10% year-over-year [8] - Customized separate account fee-earning AUM reached $40 billion, growing by $2.1 billion or 5% year-over-year [10] - Specialized funds fee-earning AUM increased to $34 billion, reflecting a 16% growth year-over-year [12] - Evergreen platform AUM approached $12.5 billion, marking a nearly 65% growth over the last twelve months [16] Market Data and Key Metrics Changes - The company continues to see strong momentum in its semi-liquid Evergreen products, contributing to the growth of total fund net asset value [9] - The company has maintained a strong backlog of business, with significant committed and contractual dry powder available for deployment [11] Company Strategy and Development Direction - The company is focused on expanding strategic partnerships and enhancing its global distribution strategy [18] - New product offerings have been launched, including infrastructure products and a fund focused on Asian private market investments [18] - The company emphasizes a long-term growth strategy, viewing its investments alongside clients as crucial for continued growth [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory, highlighting strong execution across all business fronts [8] - The company is focused on meeting diverse customer needs through various distribution channels, including digital and traditional methods [33] - Management noted that while recent quarters have seen lighter incentive fees, a positive macroeconomic environment could lead to increased exit opportunities [49] Other Important Information - Management and advisory fees decreased by 4% year-over-year, primarily due to retro fees [20] - Total expenses decreased by $8 million compared to the prior year period, with total compensation and benefits down by $9 million [23] Q&A Session Summary Question: Insights on DBS private banking relationship - Management described the relationship as an expansion of existing strategies, focusing on diverse distribution methods and meeting customer needs [31][36] Question: Status of fund secondary fund six and marketing for fund seven - Management confirmed that fund six is more than halfway invested and that marketing for fund seven has not yet started [38][39] Question: Drivers of customized separate account growth - Management indicated that growth was driven by new sales, re-ups, and increased investment activity, with a significant pipeline of business in progress [44] Question: Outlook on incentive fees and market conditions - Management agreed that a positive macro backdrop could enhance exit opportunities, with expectations for increased activity in the latter half of the year [48] Question: Institutional demand for Evergreen Fund - Management noted that approximately 15% of flows into Evergreen are from institutional investors, with the remainder from traditional retail wealth [52][55] Question: G&A expense outlook - Management projected G&A expenses to be around $33 million per quarter, with some increases expected due to revenue-related expenses [58]

Financial Performance - GAAP net income was $77.1 million for the quarter, a decrease of 12% compared to the three months ended June 30, 2024[8] - Net income attributable to Hamilton Lane Incorporated was $53.7 million for the quarter, a decrease of 9% compared to the three months ended June 30, 2024[8] - Management and advisory fees were $133.7 million, a decrease of 4% year-over-year[14, 29] - Incentive fees decreased by 26% year-over-year to $42 million[9, 37] - Fee Related Earnings increased 31% compared to the three months ended June 30, 2024, reaching $83.7 million[10, 16] - Adjusted EBITDA was $95.8 million, remaining flat year-over-year[14, 45] Assets Under Management - Assets under management reached $141 billion as of June 30, 2025, an increase of 9% compared to June 30, 2024[16] - Fee-earning assets under management were $74 billion as of June 30, 2025, an increase of 10% compared to June 30, 2024[16] Unrealized Carried Interest - Unrealized carried interest was $1.309 billion as of June 30, 2025[38, 40] - 52% of the unrealized carry is from vehicles aged 5-8 years[41] Other - The company declared a quarterly dividend of $0.54 per share of Class A common stock[15]

Financial Data and Key Metrics Changes - Total asset footprint increased to $958 billion, representing a 4% year-over-year growth [4] - Assets Under Management (AUM) grew to $138 billion, an increase of $14 billion or 11% compared to the prior year [5] - Total management and advisory fees reached $514 million, growing 14% year-over-year [6] - Fee-related earnings were $276 million, a 34% increase from the previous year, translating into GAAP EPS of $5.41 and non-GAAP EPS of $5.40 [6] Business Line Data and Key Metrics Changes - Fee-earning AUM stood at $72 billion, growing $6 billion or 10% year-over-year [14] - Specialized fund fee-earning AUM increased to $33 billion, representing a 16% growth [16] - Revenue from customized separate accounts increased by $6 million or 4% due to new accounts and re-ups [38] Market Data and Key Metrics Changes - Overall exit activity remains muted, but deal activity in various sectors showed recovery in 2024 compared to 2023 [12] - Contributions and distributions from Limited Partners (LPs) remained below historical averages, although distribution activity saw a slight pickup in 2024 [12] Company Strategy and Development Direction - The company is focusing on long-term results for clients, capitalizing on market volatility to find opportunities [13] - Continued growth in specialized funds, particularly semi-liquid evergreen funds, is a key strategy [14] - The company is actively expanding its product lines and enhancing its technology solutions [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market volatility and uncertainty, indicating a stable margin outlook despite reporting changes [46][47] - The current market environment is seen as different from past crises, driven by political factors rather than economic shocks [79] Other Important Information - The Board approved a 10% increase in the annual fiscal dividend to $2.16 per share, marking the eighth consecutive annual double-digit percentage increase since 2017 [6] - The company is investing in technology solutions to enhance operational efficiency and scalability [28] Q&A Session Summary Question: Margin outlook under new reporting regime - Management expects margins to remain stable despite changes in reporting [46][47] Question: Changes in distribution fees for new products - Distribution fees remain predominantly upfront, with no significant changes noted [49][50] Question: Future management fees within separate accounts - The separate account business is impacted by macro market conditions, but there is optimism for future growth as markets normalize [59][61] Question: May gross inflows and outflows - May showed strong inflows, with no significant changes in redemption patterns [65][66] Question: Institutional interest in evergreen funds - The trend towards evergreen funds is still in its early stages, with institutions beginning to recognize their benefits [70][72] Question: Capitalizing on market volatility - The company is focusing on deal flow, talent acquisition, and technology investments to capitalize on current market conditions [76][78]

Financial Performance - Management and advisory fees for FY25 reached $513.9 million, a 14% increase compared to FY24[4] - GAAP net income for FY25 was $217.4 million, a 54% increase compared to FY24[4] - GAAP EPS for FY25 was $5.41, a 47% increase compared to FY24[4] - Adjusted EBITDA for FY25 was $366.1 million, a 34% increase compared to FY24[4] - Incentive fees YTD increased by 95% from $102 million in FY24 to $199 million in FY25[25] - Total revenues YTD increased by 29% from $554 million in FY24 to $713 million in FY25[20] Assets Under Management (AUM) - Assets under management reached $138 billion as of March 31, 2025, an 11% increase compared to March 31, 2024[6] - Fee-earning assets under management reached $72 billion as of March 31, 2025, a 10% increase compared to March 31, 2024[6] - Total assets under advisement (AUA) reached $819.473 billion as of March 31, 2025, a 3% increase compared to March 31, 2024[57] Other Key Items - The company declared a quarterly dividend of $0.54 per share of Class A common stock[5] - Unrealized carried interest as of March 31, 2025, was $1.3 billion diversified across 3,000+ assets and over 110 funds[26]