The 49% FRE growth and 21% management fee growth confirm strong underlying business momentum beyond the volatile incentive fee line. The 12% FEAUM growth provides a solid base for future management fees. Traders should watch for continued fundraising success in specialized funds (secondary, impact, venture capital) and the pace of new customized separate account wins, as these drive the more predictable management fee stream.
Price Chart
Executive Summary
Hamilton Lane reported strong Q1 FY2027 results with GAAP EPS of $1.93 (up 51% YoY) and total revenues of $275.3M (up 56% YoY), driven by a 170% surge in incentive fees to $114.0M. Fee Related Earnings (FRE) grew 49% to $124.5M, and management & advisory fees rose 21% to $161.4M. The company declared a $0.60 quarterly dividend and reported $84B in fee-earning AUM, up 12% YoY. The prior quarter's FRE growth of 25% and strong momentum in management fees provide a positive read-through for this quarter's results, though the incentive fee spike is inherently lumpy and not fully recurring.
Key Financial Metrics
Key Facts
- GAAP EPS of $1.93, up 51% YoY from $1.28
- Total revenues of $275.3M, up 56% YoY
- Incentive fees surged 170% YoY to $114.0M
- Fee Related Earnings (FRE) grew 49% to $124.5M
- Management & advisory fees up 21% YoY to $161.4M
- Fee-earning AUM reached $84B, up 12% YoY
- Quarterly dividend of $0.60 declared
- Adjusted EBITDA of $154.2M, up 61% YoY
Financial Impact
Revenue growth of $99.4M YoY (56%), driven by a $71.7M increase in incentive fees and a $27.7M increase in management & advisory fees. FRE margin expanded to 53% from 51% in the prior year quarter.
Risk Factors
- Incentive fees are inherently lumpy and unpredictable, driven by realization events
- Unrealized carried interest declined 6% QoQ to $1.45B, which could signal future incentive fee volatility
- Operating cash flow declined to $77.2M from $128.9M in the prior year quarter due to working capital changes
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001433642-26-000039 |
| Document: hlne-20260804.htm | 0001433642-26-000039 |
| Document: 0001433642-26-000039-index-headers.html | 0001433642-26-000039 |
| Document: 0001433642-26-000039-index.html | 0001433642-26-000039 |
| Document: 0001433642-26-000039.txt | 0001433642-26-000039 |
| 8-K Data (Synthetic) | 0001433642-26-000039 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Institutional Cluster | $85.31 | awaiting T+20 | — | $81.32 (−4.68%) |
Oct 15, 2026 11d ago | 8-K | $83.50 | awaiting T+20 | — | $81.32 (−2.61%) |
Oct 6, 2026 20d ago | Press Release | $86.50 | awaiting T+20 | — | $81.32 (−5.99%) |
Aug 4, 2026 11w ago | 8-K | $101.61 $102.99 | ▲ +1.36% | ▲ +2.60% | $81.32 (−19.97%) |
Jun 15, 2026 19w ago | Insider Cluster | $87.22 $82.42 | ▼ −5.50% | ▼ −5.70% | $81.32 (−6.76%) |
Jun 12, 2026 19w ago | Institutional Cluster | $80.10 $81.09 | ▲ +1.24% | ▼ −0.54% | $81.32 (+1.52%) |
Feb 20, 2026 35w ago | Insider Cluster | $106.45 $99.59 | ▼ −6.44% | ▼ −0.49% | $81.32 (−23.61%) |
Feb 20, 2026 35w ago | Insider Cluster | $106.45 $99.59 | ▼ −6.44% | ▼ −0.49% | $81.32 (−23.61%) |
Feb 20, 2026 35w ago | Insider Cluster | $106.45 $99.59 | ▼ −6.44% | ▼ −0.49% | $81.32 (−23.61%) |
US Market Status
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