Bala Cynwyd, Penn. – Leading private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) today reported results for its second fiscal quarter ended September 30, 2018.
Hamilton Lane CEO Mario Giannini commented: “We are pleased to report strong performance for the first half of fiscal year 2019 as reflected by a continuation of good momentum with client re-ups and new client wins, and the year-to-date growth across each of our service and product offerings. Our outlook for the remainder of the fiscal year remains favorable given our visibility into our existing business and the pipeline of new opportunities.”
Hamilton Lane issued a full detailed presentation of its second quarter results, which can be viewed here.
Hamilton Lane has declared a quarterly dividend of $0.2125 per share of Class A common stock to record holders at the close of business on December 14, 2018. This dividend will be paid on January 7, 2019.
Hamilton Lane will discuss second quarter fiscal 2019 results in a webcast and conference call today, Tuesday, November 6, 2018, at 11:00 a.m. Eastern Time. The call will be broadcast live via a webcast, which may be accessed on Hamilton Lane’s Investor Relations website. The call may also be accessed by dialing (833) 231-8267 inside the U.S., or (647) 689-4112 for international callers. The conference ID is 7197514.
A replay of the webcast will be available approximately two hours after the live broadcast for a period of one year and can be accessed in the same manner as the live webcast at the Hamilton Lane Investor Relations website.
Stock Repurchase Program
Hamilton Lane has also approved a program to repurchase, over a period of twelve months, shares of Hamilton Lane’s Class A Common Stock, par value $0.001 per share (the “Common Stock”) constituting, in the aggregate, up to 6% of the outstanding shares of Common Stock as of the date of the authorization, an amount not to exceed $50 million. The program is effective immediately. Shares of the Common Stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at Hamilton Lane’s discretion. Hamilton Lane may in the future enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases, if criteria set forth in the plan are met. Such a plan would enable Hamilton Lane to repurchase its shares during periods outside of its normal trading windows, when Hamilton Lane typically would not be active in the market.
The timing of purchases and the exact number of shares to be purchased will depend on market conditions. The repurchase program does not include specific price targets or timetables and may be suspended or terminated at any time. Hamilton Lane intends to finance the purchases using available working capital and/or debt resources.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 27 years, the firm currently employs more than 350 professionals operating in offices throughout the U.S., Europe, Asia-Pacific, Latin America and the Middle East. With approximately $452 billion in total assets under management and supervision as of September 30, 2018, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.
Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are used to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business. All forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different, including risks relating to our ability to manage growth, fund performance, risk, changes in our regulatory environment and tax status; market conditions generally; our ability to access suitable investment opportunities for our clients; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; defaults by clients and third-party investors on their obligations to us; our ability to comply with investment guidelines set by our clients; our ability to consummate planned acquisitions and successfully integrate the acquired businesses with ours; and our ability to receive distributions from Hamilton Lane Advisors, L.L.C. to fund our payment of dividends, taxes and other expenses.
The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” detailed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 31, 2018 and in our subsequent reports filed from time to time with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.