Hamilton Lane Incorporated
hamiltonlane.comWhat Do They Do?
Builds and manages private-market investment portfolios and funds, and advises institutional investors and private wealth clients on investing in private markets.
10-K for FY2026, filed May 21, 2026We are a global private markets investment solutions provider dedicated to private markets investing. Since our founding in 1991, we have…View ↗
Our clients include a broad range of investors from large global institutional investors to private wealth clients. Our clients rely on us…View ↗
We offer a variety of investment solutions to address our clients’ needs across a range of private markets, including private equity…View ↗
How Do They Make Money?
Most revenue comes from management and advisory fees: clients pay for ongoing fund, portfolio and advisory services, generally in quarterly bills. The company also earns incentive fees when fund or account returns exceed minimum return levels or other performance targets.
$759M
-
10-K for FY2026, filed May 21, 2026
$759M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Management and advisory fees
Recurring
10-K for FY2026, filed May 21, 2026 |
77%
FY2023: 70%
|
Management and advisory fees, FY2026
$584.2M Sources
|
Recurring |
|
Total incentive fees
|
23% |
Total incentive fees, FY2026
$174.8M Sources
|
Who Are Their Customers?
Institutional investors—including pension and sovereign wealth funds, insurers, endowments and foundations—hire Hamilton Lane for customized portfolios, funds and advice. Registered investment advisers, wirehouses and private banks help distribute its offerings to family offices and high-net-worth individuals.
10-K for FY2026, filed May 21, 2026Our client and investor base is broadly diversified by type, size and geography. Our client base ranges from those seeking to make an…View ↗
Our intermediary clients, which include registered investment advisers, wirehouses and private banks, enable us to provide our investment…View ↗
Our client and private wealth solutions groups are responsible for identifying and contacting prospective clients for our products and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 33 cents of every revenue dollar as net income in FY2026 and turned 55 cents into free cash flow.
How Are They Changing?
10-Q for Q1 FY2027, filed Aug 4, 2026
Open tableView ↗
Growing. Revenue grew 2.1x in 4 years, from $367.9M in FY2022 to $759M in FY2026, about 20% a year.
Broader evergreen reach
Evergreen funds have expanded from offerings aimed at certain high-net-worth individuals to a broader platform, with institutional investors also adopting them.
10-K for FY2023, filed May 25, 2023 10-K for FY2026, filed May 21, 2026Customized Separate Accounts: We design and build customized portfolios of private markets funds and direct investments to meet our…View ↗
Diversify and grow client base and broaden access to the private markets. We aim to continue to expand our relationships with existing…View ↗
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