Hamilton Lane Incorporated : Fourth Fiscal Quarter and Fiscal Year 2021 Earnings Presentation
May 27, 2021 at 04:37 pm IST
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Fiscal Year 2021 Fourth Quarter and Full Year Results
Earnings Presentation - May 27, 2021
Today's Speakers
Mario Giannini
Erik Hirsch
Atul Varma
John Oh
Chief Executive Officer
Vice Chairman
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 approximately $88 billion and $42 billion, respectively, as of March 31, 2021, increases of 28% and 9%, respectively, compared to March 31, 2020
Management and advisory fees increased 18% compared to fiscal 2020
Financial Results
USD in millions except per share amounts
Q4 FY21
FY21
vs. FY20
Management and advisory fees
$80.5
$289.4
18 %
GAAP net income
$39.8
$98.0
61 %
GAAP EPS
$1.00
$2.81
31 %
Adjusted net income1
$51.0
$146.4
36 %
Non-GAAP EPS1
$0.95
$2.73
36 %
Fee Related Earnings1
$36.2
$130.0
29 %
Adjusted EBITDA1
$50.0
$168.2
32 %
Dividend
Declared a quarterly dividend of $0.35 per share of Class A common stock to record holders at the close of business on June 15, 2021
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 22 and 23 of this presentation.
Hamilton Lane l Global Leader in the Private Markets
3
Growing Asset Footprint & Influence
$719B
AUM & AUA
Total Assets Under Management/Advisement ($B) 1
$88
$700
$76
$600
Y-o-Y Growth
AUM:
28%
$631
AUA:
45%
$66
$581
$500
$59
$50
$400
$410
$422
$40
$374
$300
$35
$292
$32
$30
$200
$24
$22
$205
$189
$13
$16
$19
$100
$11
$147
$147
$7
$129
$6
$95
$77
$79
$81
$36
$51
$0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
3/31/21
Total AUA
Total AUM
1Data as of calendar year end 12/31 unless otherwise noted. Numbers may not tie due to rounding.
Hamilton Lane l Global Leader in the Private Markets
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Fee-Earning AUM Driving Revenues
Fee-Earning AUM growth continues and annual fee rates are stable
Total Fee-Earning Assets Under Management ($B)
$50
.56%
.55%
.56%
.60%
$42
$40
$39
$31
$34
$16
$30
$14
$27
$11
$20
$9
$10
$25
$26
$22
$10
$21
$18
$0
Mar-17
Mar-18
Mar-19
Mar-20
Mar-21
Customized Separate Accounts
Specialized Funds
*Numbers may not tie due to rounding
Total Management Fee Revenues as a % of Average FEAUM
Y-o-Y Drivers of Growth
Customized Separate Accounts:
Specialized Funds:
•
New client wins
• Closed 5th secondary fund and 6th credit-oriented
•
Client re-ups
fund
• Fundraising 5th direct equity fund, 7th credit-oriented
fund and evergreen funds
Hamilton Lane l Global Leader in the Private Markets
5
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Hamilton Lane Inc. published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 11:06:03 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.