This stemmed primarily from market value growth of the portfolio and the addition of a variety of technology solutions and back-office mandates. Total management and advisory fees for the year-to-date period were up 11% year over year. Total fee-related revenue for the period, which is the sum of management fees and fee-related performance revenues, was $57 million and represents 31% growth year over year. Fee-related earnings were $254.6 million year to date and represent 37% growth year over year. We gene ...

Financial Data and Key Metrics Changes - Total asset footprint increased to over $1 trillion, representing a 6% year-over-year growth [3] - Assets Under Management (AUM) reached $146 billion, growing by $11 billion or 8% compared to the prior year [4] - Assets Under Advisement (AUA) totaled $871 billion, up $50 billion or 6% year-over-year [4] - Total management and advisory fees increased by 11% year-over-year, with fee-related revenue growing by 31% to $507 million [4][29] - GAAP EPS for the fiscal year-to-date was $4.35, with non-GAAP EPS at $4.41 [5] Business Line Data and Key Metrics Changes - Fee-earning AUM stood at $79.1 billion, growing by $8.1 billion or 11% year-over-year [10] - Specialized funds revenue increased by $35 million or 15% compared to the prior year, driven by growth in the Evergreen Platform [29] - Customized Separate Accounts fee-earning AUM grew to $41.1 billion, up $1.3 billion or 3% year-over-year [23] Market Data and Key Metrics Changes - The Evergreen Platform generated over $1.2 billion of net inflows, with total AUM reaching over $16 billion, representing over 70% year-over-year growth [21] - The international credit Evergreen fund surpassed $2 billion in AUM, with a strong performance and positive net inflows [22] Company Strategy and Development Direction - The strategic partnership with Guardian has closed, overseeing nearly $5 billion of Guardian's private equity portfolio, with expected annual commitments of approximately $500 million for at least 10 years [9] - The company aims to broaden distribution for its flagship strategies and enhance its product offerings in the wealth management sector [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating changing markets and high client expectations, highlighting strong growth and momentum [7] - The exit environment is expected to improve in 2026, with increased distribution activity anticipated [49] Other Important Information - The company has invested in Pluto Financial Technologies to enhance technology solutions in private markets [25][26] - The partnership with Guardian is expected to have initial economic impacts recognized in the fiscal fourth quarter of 2026 [9][33] Q&A Session Summary Question: Product roadmap for wealth in calendar 2026 - Management indicated that while new products will be added, the volume will not match the previous year as focus shifts to scaling existing products [39] Question: Software exposure and AI risk - Management noted that their diversified portfolio mitigates concentration risk in software, and they do not see AI disruption as a significant issue [43][44] Question: Exit activity and industry evolution - Management observed an increase in distribution activity, with a stronger exit environment expected in 2026 [49] Question: Opportunities from the evolving Evergreen Platform - Management discussed the potential for using Evergreen products as tools for portfolio construction and the ongoing education around these products [50][51] Question: Institutional interest in Evergreen products - Management clarified that institutional clients are using Evergreen products for ease of use and tactical portfolio management rather than high redemption rates [56] Question: Market sentiment regarding secondary funds - Management expressed optimism about the secondary market, noting it remains undercapitalized and has significant growth potential [71]

Financial Data and Key Metrics Changes - Total asset footprint increased to over $1 trillion, representing a 6% year-over-year growth [3] - Assets Under Management (AUM) reached $146 billion, growing by $11 billion or 8% compared to the prior-year period [4] - Assets Under Advisement (AUA) totaled $871 billion, up $50 billion or 6% year-over-year [4] - Total management and advisory fees increased by 11% year-over-year, with fee-related revenue at $507 million, reflecting a 31% growth [4][28] - GAAP EPS for the fiscal year-to-date was $4.35, with non-GAAP EPS at $4.41 [5] Business Line Data and Key Metrics Changes - Fee-earning AUM grew to $79.1 billion, an increase of $8.1 billion or 11% year-over-year [10] - Specialized funds revenue increased by $35 million or 15% compared to the prior-year period, driven by growth in the Evergreen Platform [29] - Customized separate accounts revenue rose by $4 million or 4% due to new accounts and re-ups from existing clients [30] - Evergreen Platform AUM reached over $16 billion, representing over 70% year-over-year growth [21] Market Data and Key Metrics Changes - The partnership with Guardian is expected to bring in annual commitments of approximately $500 million for at least 10 years, enhancing access to private market opportunities [9] - The second infrastructure fund raised nearly $2 billion, tripling the capital raised in the inaugural fund [17] Company Strategy and Development Direction - The company aims to leverage its diversified platform and expand client relationships while focusing on scaling existing products rather than launching numerous new ones [7][39] - The strategic partnership with Guardian is a significant step in working with sophisticated institutional investors to design comprehensive private market programs [9] - The company is focused on enhancing liquidity solutions for individual investors to drive deeper penetration into private markets [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth opportunities ahead, citing strong performance and a favorable exit environment for 2026 [7][49] - The company is witnessing a rationalization in the market, with buyers and sellers reaching equilibrium, which is expected to enhance distribution activity [49] - Management noted that the liquidity provision of Evergreen products is not the primary attraction for institutional clients, who value ease of use and tactical portfolio management [58] Other Important Information - The company has a strong pipeline of mandates and substantial committed capital ready to deploy, indicating robust future growth potential [24] - The company is actively investing in technology solutions to broaden access to private markets and enhance investor experience [25] Q&A Session Summary Question: Product roadmap for wealth in calendar 2026 - Management indicated that while new products were launched in 2025, the pace will slow in 2026 as focus shifts to scaling existing products [39] Question: Software exposure and AI risk - Management clarified that their diversified portfolio mitigates concentration risk in software, and they do not see AI disruption as a significant issue [43][44] Question: Exit activity and industry evolution - Management noted an increase in distribution activity and expects a stronger exit environment in 2026 due to maturing assets [49] Question: Opportunities from the evolving Evergreen Platform - Management is exploring various structuring and partnership opportunities as the Evergreen Platform evolves into a multi-asset, multi-strategy offering [51] Question: Institutional client behavior regarding liquidity - Management stated that institutional clients are using Evergreen products for portfolio construction rather than exhibiting higher redemption rates [58] Question: Sentiment and interest in secondaries - Management expressed optimism about the secondary market, noting it remains undercapitalized and has significant growth potential [72]

Hamilton Lane (NasdaqGS:HLNE) Q3 2026 Earnings call February 03, 2026 11:00 AM ET Speaker2Good morning, ladies and gentlemen, and welcome to the Hamilton Lane Fiscal Q3 2026 earnings call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star 0 for the operator. This call is being recorded on Tuesday, February 3, 2026. I would now like to turn the conferen ...

The survey polled 390 financial advisors across the Americas, Europe, the Middle East and Asia-Pacific CONSHOHOCKEN, Pa., Jan. 28, 2026 /PRNewswire/ -- In 2026, private wealth investors plan to increase allocations to private market investments, according to insights from 390 advisors surveyed in leading global private markets firm Hamilton Lane's (Nasdaq: HLNE) 2026 Global Private Wealth Survey. Private Markets Allocations on the Rise The survey found that 86% of private wealth professionals plan to increa ...