This article first appeared on GuruFocus.
Release Date: November 04, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
-
Hamilton Lane Inc (NASDAQ:HLNE) achieved a significant milestone by surpassing the $1 trillion mark in total asset footprint, representing a 6% increase year over year.
-
The company reported a 23% growth in total fee-related revenue, driven by strong performance in management fees and fee-related performance revenue.
-
Hamilton Lane Inc (NASDAQ:HLNE) announced a strategic partnership with Guardian Life Insurance Company, which includes managing Guardian’s private equity portfolio and a commitment of $500 million per year for the next 10 years.
-
The company’s Evergreen platform experienced its largest quarter ever, with over $1.6 billion in net inflows, driven by expanded product offerings and strong performance.
-
Hamilton Lane Inc (NASDAQ:HLNE) formed a partnership with Bloomberg to provide private market indices and benchmarks, enhancing brand visibility and reaching a wider audience.
-
The impact of retro fees was significantly lower this year, with only $800,000 compared to $20.7 million in the prior year, affecting management and advisory fee growth.
-
Despite strong growth in specialized funds, the company faces unpredictability in the timing of dollars coming on due to the scale and contracting dynamics in their SMA business.
-
There remains over $1 billion of Evergreen AUM not yet earning management fees due to timing of initial subscriptions and fee holidays.
-
Total expenses increased by 11% year over year, driven by higher compensation and benefits costs, as well as increased G&A expenses.
-
The Guardian partnership, while promising, is expected to have a modest initial financial impact, with scaling benefits anticipated over time as the portfolio is deployed.
Q: Can you provide details on the fee structure for the Guardian Life partnership, particularly regarding the $5 billion portfolio and the $500 million annual allocation? A: Eric Hirsch, Co-CEO: The majority of revenue will come from the $5 billion to be managed over the next decade. The existing $5 billion is a monitoring assignment. The $250 million will go into Evergreen, and the SMA portion will be a mix of primary funds and specialized funds at prevailing fee rates.
Q: Could you elaborate on the Bloomberg partnership and the potential for monetizing your data sets and indices? A: Eric Hirsch, Co-CEO: The Bloomberg partnership is a revenue share model that will grow with usage. We are selective in partnerships, focusing on revenue and brand enhancement. We don’t see investable indices as a focus, as replicating private market portfolios with public securities has generally failed.
