Hamilton Lane (HLNE) Q3 2026 earnings summary

Executive summary

• Total asset footprint surpassed $1 trillion, with AUM at $146 billion (+8%) and fee-earning AUM at $79 billion (+11%) as of December 31, 2025.

• Net income attributable to the company was $58.4 million for the quarter and $183 million year-to-date, up 10% year-over-year.

• GAAP EPS year-to-date was $4.35; non-GAAP EPS was $4.41; quarterly basic and diluted EPS were $1.37 and $1.36, respectively.

• Dividend declared at $0.54 per share, targeting a 10% annual increase.

• Strategic partnership with Guardian Life Insurance established, including a 10-year commitment and warrant issuance.

Financial highlights

• Management and advisory fees rose 11% year-over-year to $429 million for the nine months ended December 31, 2025.

• Incentive fees totaled $136 million year-to-date, mainly from performance fees in Evergreen funds.

• Fee Related Earnings (FRE) reached $254.6 million year-to-date (+37%), with a margin of 50-51%.

• Adjusted EBITDA was $304.1 million year-to-date, up 15% year-over-year.

• Total revenues for the nine months ended December 31, 2025, increased 10% year-over-year to $565 million.

Outlook and guidance

• Guardian partnership to add nearly $5 billion in AUM next quarter, with $500 million annual commitments for at least 10 years.

• First closes for new Secondary and Venture Access funds expected in Q2 2026.

• Management expects continued growth in fee-earning AUM from new and existing accounts and ongoing investment activity.

• Targeting a full-year dividend of $2.16 per share, representing a 10% increase from the prior fiscal year.

• U.S.-registered counterpart to international credit Evergreen fund launching soon.