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Hamilton Lane (1M0) Q2 2027 Earnings Report

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DE:1M0 Q2 2027 EPS Results

Actual EPS
EUR 1.77
Consensus EPS
EUR 1.48
Beat/Miss
Beat by +EUR 0.30
One Year Ago EPS
EUR 1.38

DE:1M0 Q2 2027 Revenue Results

Actual Revenue
EUR 183.04M
Expected Revenue
EUR 192.70M
Beat/Miss
Missed by -EUR 9.67M
YoY Revenue Growth
+7.10%

Earnings Announcement Details

Quarter
Q2 2027
Date
11/03/2026
Time
Before Open
Conference Call
Tuesday, November 3, 2026
DE:1M0 Upcoming Earnings

Hamilton Lane's next earnings date is estimated for February 9, 2027, based on past reporting schedules.

Q2 2027 Earnings Call Audio

DE:1M0 Q2 2027 Earnings Call
0:00 / 0:00

Q2 2027 Earnings Slide Deck

Q2 2027 Earnings Call Summary

Q2 2027
Earnings Call Date:Nov 03, 2026|% Change Since:8.13%|
Earnings Call Sentiment|Positive

The call was strongly positive overall. Hamilton Lane reported double-digit growth in asset footprints, fee-related revenue, fee-related earnings, specialized funds, Evergreen AUM, and fee-earning AUM, while highlighting strong fundraising momentum, new product launches, strategic partnerships, and balance-sheet gains. Offsetting points included a slight decline in customized separate-account revenue, lower second-quarter fee-related performance revenue, non-linear flows, uneven industry liquidity and performance, and substantial expense growth, but management remained confident in continued growth and a low-50s FRE margin over the longer term.

Company Guidance

Management said it is expecting “meaningful growth relative to last fiscal year” in specialized funds; the dividend remains on track for the “11% increase over last fiscal year” and the “targeted $2.40 per share for fiscal year 27”; FRE margin is expected to continue at “the low 50s type of FRE margin” “on an annual basis”; the Russell acquisition is expected to close “in the first quarter of calendar year 27” and, assuming it closes as expected, generate “a gain of approximately $18 million”; consolidated vehicles are expected to roll off into GAAP results “within the next several quarters”; subsequent closes are expected to generate “full retro fees”; and for model portfolios, the expectation for “the next 12 months” is “more of the same.”

  • Total Asset Footprint Reached Approximately $1.1 TrillionTotal asset footprint stood at approximately $1.1 trillion at quarter end, representing a 7% increase year over year. AUM was $151 billion, up $5 billion or 4%, while AUA was $929 billion, up $69 billion or 8%, primarily from market value growth and the addition of technology solutions and back-office mandates.
  • Strong Year-to-Date Fee and Earnings GrowthYear to date through the second quarter of fiscal year 27, total management and advisory fees increased 18% year over year to $325 million, total fee-related revenue increased 29% to $414 million, and fee-related earnings increased 34% to $215 million. The company generated fiscal year-to-date GAAP EPS of $3.80 on $158 million of GAAP net income and non-GAAP EPS of $3.91 on $211 million of adjusted net income.
  • Dividend Increase Remains on TrackHamilton Lane declared a quarterly dividend of $0.60 per share, keeping the company on track for an 11% increase over the prior fiscal year and a targeted $2.40 per share for fiscal year 27.
  • Fee-Earning AUM and Blended Fee Rate ExpandedTotal fee-earning AUM reached $86 billion, up $10 billion or 12% year over year and $2 billion or 3% quarter over quarter. Growth continued to skew toward specialized funds with higher fee rates, moving the blended fee rate to 69 basis points, up 14 basis points or 5% compounded annually over the past five years.
  • Specialized Funds Delivered Significant GrowthSpecialized-fund fee-earning AUM exceeded $44 billion, increasing nearly $9 billion or 25% over the trailing 12 months and $2 billion or 4% during the quarter. The company generated more than $2 billion of gross contributions, driven primarily by Evergreen subscriptions, the first close of its seventh secondary fund, and drawdown activity from funds charging fees on a net-invested basis.
  • Evergreen Platform Momentum AcceleratedEvergreen AUM reached nearly $21 billion, representing 42% growth year over year. Quarterly net inflows were nearly $800 million, up from nearly $640 million in the prior quarter, with September alone contributing nearly $400 million of net inflows. The company stated that no gates had been imposed on any products and that performance since inception remained strong across the product set.
  • Successful Fundraising Across Flagship StrategiesThe seventh secondary fund held its first close in July on nearly $1.3 billion of investor commitments, with management fees activated at the first close. The latest venture fund held its first close on more than $370 million, representing more than 60% of the $615 million raised by the first venture fund. Management fees have also turned on for the latest venture close.
  • Expansion of New Specialized StrategiesHamilton Lane launched its inaugural GP-led secondary fund, advanced a new credit strategy spanning diversified lending and specialty finance, and continued developing newer strategies in areas including real estate, expanded credit, additional secondaries, and co-investment offerings.
  • Impact and Niche Platforms Continued to ScaleThe third impact fund raised nearly $340 million of investor commitments. Smaller white-label and regionally specific platforms have contributed more than $4 billion in aggregate to the specialized-fund business.
  • Customized Separate Account Mandates ExpandedCustomized separate-account fee-earning AUM reached $41 billion, up $663 million or 2% over the last 12 months and $362 million quarter over quarter. The company closed $1.7 billion of new total contract mandate value, primarily from existing clients through re-ups and expanded service lines, while the pipeline of mandates yet to close remained in the multiple billions of dollars.
  • Technology and Data Solutions Continued to GrowRevenue from reporting, monitoring, data, and analytics offerings increased by nearly $3 million or 15% year over year. Hamilton Lane also announced a strategic partnership with FactSet to integrate its private-markets data covering more than 70,000 funds and 240,000 private companies, along with proprietary fund- and deal-level benchmarks, into FactSet's portfolio analytics platform.
  • FactSet Partnership Includes Multiyear Recurring RevenueThe FactSet relationship includes multiyear annual recurring revenue with an agreed-upon floor that is structured to scale with the success of the partnership. Management described the floor as meaningful and said there was room for the opportunity to grow.
  • Fee-Related Earnings Margin Reached 52%Fiscal year-to-date FRE was $250 million, up 34% from the prior-year period, while FRE margin was 52%, compared with 50% in the prior-year period. Management said the longer-term annual expectation remains a low-50s FRE margin.
  • Unrealized Carry Balance IncreasedThe unrealized carry balance increased 11% year over year to approximately $1.6 billion, even after the company recognized $107 million of incentive fees, excluding fee-related performance revenues, during the last 12 months.
  • Strategic Balance Sheet Investments Generated GainsThe Securitize business combination closed during the reporting period and resulted in a $15.6 million gain, with Hamilton Lane holding approximately 1.5 million shares subject to a 180-day lockup. CANU's acquisition by Bloomberg closed in October and resulted in a $17 million gain in the third quarter of fiscal year 27. The announced Russell acquisition was expected to close in the first quarter of calendar year 27 and was expected to produce an approximately $18 million gain, subject to regulatory approvals and customary closing conditions.
  • Balance Sheet Provides Capacity for Strategic GrowthManagement said it intends to continue using the balance sheet tactically to seed products and support their ramp-up and scaling phases. The company stated that it has meaningful balance-sheet capacity, that leverage remains modest and consistent with historical levels, and that it will continue evaluating such opportunities.
  • Leadership Transition Emphasized Continuity and GrowthHartley Raymond Rogers was named co-chief executive officer alongside Juan Delgado-Moreira, while Erik Hirsch moved to executive co-chairman to lead strategic initiatives. Management emphasized continuity in client service, teams, investment strategy, and investment approach, while identifying client focus, accelerating growth, employee development, technology, data, and strategic partnerships as priorities.
  • Wealth Distribution Investments ContinuedThe company said it remained focused on building its wealth-distribution channel across national-account and smaller RIA channels in the United States and internationally, and that it was continuing to make significant investments in the distribution team.
  • Fundraising Growth Came From Existing and New ClientsManagement reported growth from existing customers scaling their programs as well as from the addition of new logos. In the Evergreen business, the largest growth driver was described as the new-logo side, while existing institutional customers were increasingly adopting Evergreen products.

DE:1M0 Earnings History

DE:1M0 earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 09, 20272027 (Q3)1.61-1.39――
Nov 03, 20262027 (Q2)1.481.771.3828.57% (+0.39)
Aug 04, 20262027 (Q1)1.371.741.1748.09% (+0.56)
May 21, 20262026 (Q4)1.281.331.0823.14% (+0.25)
Feb 03, 20262026 (Q3)1.211.391.1224.00% (+0.27)
Nov 04, 20252026 (Q2)0.991.380.9643.93% (+0.42)
Aug 05, 20252026 (Q1)0.881.171.35-13.25% (-0.18)
May 29, 20252025 (Q4)1.051.081.24-12.32% (-0.15)
Feb 04, 20252025 (Q3)0.981.120.6476.06% (+0.48)
Nov 06, 20242025 (Q2)0.980.960.820.22% (+0.16)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed