Hamilton Lane
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Hamilton Lane (HLNE) investor relations material

Hamilton Lane Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary3 Feb, 2026

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.

Q3 incentive fee drivers by fund type
Strategy for $215M tech investments
Reliance on existing clients for FEAUM growth
How will Guardian partnership impact fee mix?
Why reshape the Strategic Opportunities franchise?
How does AI impact software portfolio companies?
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Frequently asked questions

Hamilton Lane is a leading private markets investment management firm providing innovative solutions and striving to be the premier source of intelligence, insight and expertise for our clients. We invest in private equity, real estate, credit/debt and infrastructure across the globe on behalf of our clients – including large public pensions, corporate and sovereign wealth funds, insurance companies, foundations and endowments, as well as family offices and high-net-worth individuals.

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