Hamilton Lane Files 2024 10-K

TL;DR

HLNE filed its 2024 10-K, detailing FY performance. Check financials.

AI Summary

Hamilton Lane Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Conshohocken, PA, operates in the investment advice sector. Key financial details and operational highlights for the period are detailed within the filing.

Why It Matters

This filing provides investors with a comprehensive overview of Hamilton Lane's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 2024-03-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-05-23 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• Hamilton Lane Inc. (company) — Filer of the 10-K
• Conshohocken, PA (location) — Company headquarters
• March 31, 2024 (date) — Fiscal year end
• 20240523 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share HLNE The Nasdaq Sto
• $90.44 — 29, 2023, based on the closing price of $90.44 as reported by the Nasdaq Stock Market,
• $124 billion — t solutions provider with approximately $124 billion of discretionary assets under managemen
• $796 billion — r management ("AUM"), and approximately $796 billion of non-discretionary assets under advis
• $93 billion — accounts, which comprised approximately $93 billion of our AUM as of March 31, 2024. Speci
• $32 billion — ecialized funds comprised approximately $32 billion of our AUM as of March 31, 2024. Advis
• $124 b — h 31, 2024, we had AUM of approximately $124 billion, reflecting a 16% compound annual

Filing Documents

• hlne-20240331.htm (10-K) — 2651KB
• exhibit191-hlneinsidertrad.htm (EX-19.1) — 100KB
• exhibit211-hamiltonlanesub.htm (EX-21.1) — 468KB
• exhibit23110k2024.htm (EX-23.1) — 4KB
• exhibit311331202410k.htm (EX-31.1) — 10KB
• exhibit312331202410k.htm (EX-31.2) — 10KB
• exhibit313331202410k.htm (EX-31.3) — 10KB
• exhibit32331202410k.htm (EX-32) — 6KB
• exhibit971-hlnecompensatio.htm (EX-97.1) — 38KB
• hlne-20240331_g1.jpg (GRAPHIC) — 12KB
• hlne-20240331_g2.gif (GRAPHIC) — 32KB
• hlne-20240331_g3.jpg (GRAPHIC) — 92KB
• hlne-20240331_g4.jpg (GRAPHIC) — 79KB
• hlne-20240331_g5.jpg (GRAPHIC) — 98KB
• hlne-20240331_g6.jpg (GRAPHIC) — 121KB
• 0001433642-24-000064.txt ( ) — 13221KB
• hlne-20240331.xsd (EX-101.SCH) — 74KB
• hlne-20240331_cal.xml (EX-101.CAL) — 107KB
• hlne-20240331_def.xml (EX-101.DEF) — 488KB
• hlne-20240331_lab.xml (EX-101.LAB) — 866KB
• hlne-20240331_pre.xml (EX-101.PRE) — 683KB
• hlne-20240331_htm.xml (XML) — 1618KB

Risk Factors

Item 1A. Risk Factors 31

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 69

C . Cybersecurity

Item 1 C . Cybersecurity 69

Properties

Item 2. Properties 71

Legal Proceedings

Item 3. Legal Proceedings 71

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 71 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 72

[Reserved]

Item 6. [Reserved] 73

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 74

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 100

Consolidated Financial Statements and Supplementary Data

Item 8. Consolidated Financial Statements and Supplementary Data 102

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 143

Controls and Procedures

Item 9A. Controls and Procedures 143

Other Information

Item 9B. Other Information 143

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 144 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 145

Executive Compensation

Item 11. Executive Compensation 145

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 145

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 145

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 145 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 146

Form 10-K Summary

Item 16. Form 10-K Summary 146

Signatures

Signatures 152 This Annual Report on Form 10-K ("Form 10-K") includes certain information regarding the historical performance of our specialized funds and customized separate accounts. An investment in shares of our Class A common stock is not an investment in our specialized funds or customized separate accounts. In considering the performance information relating to our specialized funds and customized separate accounts contained herein, current and prospective Class A common stockholders should bear in mind that the performance of our specialized funds and customized separate accounts is not indicative of the possible performance of shares of our Class A common stock and is also not necessarily indicative of the future results of our specialized funds or customized separate accounts, even if fund investments were in fact liquidated on the dates indicated, and there can be no assurance that our specialized funds or customized separate accounts will continue to achieve, or that future specialized funds and customized separate accounts will achieve, comparable results. Please note that nothing in this Form 10-K represents an offer to sell, or a solicitation of an offer to purchase, interests in any of Hamilton Lane's products. We own or have rights to trademarks, service marks or trade names that we use in connection with the operation of our business. In addition, our names, logos and website names and addresses are owned by us or licensed by us. We also own or have the rights to copyrights that protect the content of our solutions. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to in this Form 10-K are listed without the , and symbols, but we will assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks, trade names and copyrights. This Form 10-K may include trademarks, service marks or trade names of other companies. Our use or dis

Business

Item 1. Business Our Company We are a global private markets investment solutions provider with approximately $124 billion of discretionary assets under management ("AUM"), and approximately $796 billion of non-discretionary assets under advisement ("AUA") as of March 31, 2024. We work with our clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and we help them access a diversified set of such investment opportunities worldwide. Our clients are principally large, sophisticated, global investors that rely on our private markets expertise, deep industry relationships, differentiated investment access, risk management capabilities, proprietary data advantages and analytical tools to navigate the complexity and opacity of private markets investing. While some maintain their own internal investment teams, our clients look to us for additional expertise, advice and outsourcing capabilities. In addition to our institutional client base, we have a growing number of non-institutional clients stemming from the private wealth channel, which includes family offices and high-net-worth individuals, who utilize our products and services to gain access to the private markets. We were founded in 1991 and have been dedicated to private markets investing for over three decades. We currently have approximately 700 employees, including 238 investment professionals, operating across 22 global offices servicing our clients throughout the world. We offer a variety of investment solutions to address our clients' 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

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View this 10-K filing on SEC EDGAR