Hamilton Lane Incorporated : Second Fiscal Quarter and Fiscal Year 2023 Earnings Presentation
November 01, 2022 at 07:20 am EDT
Share
Fiscal Year 2023 Second Quarter Results
Earnings Presentation - November 1, 2022
Today's Speakers
Mario Giannini
Erik Hirsch
Brian Gildea
Atul Varma
John Oh
Chief Executive Officer
Vice Chairman
Managing Director - Investments
Chief Financial Officer
Investor Relations Manager
Hamilton Lane l Global Leader in the Private Markets
2
Period Highlights
Business Performance
Assets under management and fee-earning assets under management were $107 billion and $53 billion, respectively, as of September 30, 2022, increases of 12% and 18%, respectively, compared to September 30, 2021
Management and advisory fees increased 19% compared to the six months ended September 30, 2021
Financial Results
USD in millions except per share amounts
Q2 FY23 QTD
Q2 FY23 YTD
vs. Q2 FY22 YTD
Management and advisory fees
$92.9
$178.8
19 %
GAAP net income
$34.9
$68.4
(15)%
GAAP EPS
$0.97
$1.88
(14)%
Adjusted net income1
$55.1
$104.7
(13)%
Non-GAAP EPS1
$1.02
$1.95
(13)%
Fee Related Earnings1
$39.8
$76.6
10 %
Adjusted EBITDA1
$75.1
$141.7
58 %
Dividend
Declared a quarterly dividend of $0.40 per share of Class A common stock to record holders at the close of business on December 15, 2022
1Adjusted net income, non-GAAP earnings per share, Fee Related Earnings and Adjusted EBITDA are non-GAAP financial measures. For the reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures and for the reasons we believe the non-GAAP measures provide useful information, see pages 20 and 21 of this presentation.
Hamilton Lane l Global Leader in the Private Markets
3
Growing Asset Footprint & Influence
$824B
AUM & AUA
1
Total Assets Under Management/Advisement ($B)
$1,000
Y-o-Y Growth
$800
AUM:
12 %
AUA:
1 %
$600
19%
CAGR:
$76
$98 $107
$ 717
$753
$66
$59$581
$400
$50
$422
$410
$40
$374
$32
$35
$200
$30
$292
$22
$24
$205
$189
$16
$19
$147
$147
$11
$13
$7
$129
$6
$95
$81
$77
$79
$36
$51
$0
2020
9/30/22
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2021
Total AUA
Total AUM
1Data as of calendar year end 12/31 unless otherwise noted. Numbers may not tie due to rounding.
Hamilton Lane l Global Leader in the Private Markets
4
Fee-Earning AUM Driving Revenues
Fee-Earning AUM growth continues and annual fee rates are stable
Total Fee-Earning Assets Under Management ($B)
.55%
.56%
.60%
.56%
.55%
.58%
$60
$49
$53
$50
$45
$42
$40
$39
$18
$20
$31
$34
$16
$17
$30
$14
$11
$20
$10
$31
$32
$27
$25
$26
$10
$21
$22
$0
Mar-18
Mar-19
Mar-20
Mar-21
Mar-22
Sep-21
Sep-22
*Numbers may not tie due to rounding
Customized Separate Accounts
Specialized Funds
Total Management Fee Revenues as a % of Average FEAUM
Y-o-Y Drivers of Growth
Customized Separate Accounts:
Specialized Funds:
•
New client wins
• Closed 1st infrastructure fund and 7th credit-oriented
•
Client re-ups
fund
• Fundraising 5th direct equity fund, 6th secondary fund,
2nd impact fund, and evergreen funds
Hamilton Lane l Global Leader in the Private Markets
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Hamilton Lane Inc. published this content on 01 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2022 11:19:04 UTC.
Hamilton Lane Incorporated is a private market investment management company. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it enables them to access a diversified set of such investment opportunities worldwide. The Company offers a variety of investment solutions to address its clientsâ needs across a range of private markets, including private equity, private credit, real estate, infrastructure, natural resources, growth equity, venture capital and impact. These solutions are constructed from a range of investment types, including primary investments in funds managed by third-party managers, direct investments alongside such funds and acquisitions of secondary stakes in such funds, with a number of its clients utilizing multiple investment types. These solutions are offered in a variety of formats covering some or all phases of the private market's investment program.