EL7.AI
StocksMedium•3 November 2026•
2 min read

Hamilton Lane Incentive Fees Jump 70% in First Half of Fiscal 2027

Key Facts

1Incentive fees rose 70% to $154.365 million in the first half.
2Management and advisory fees increased 18% to $325.396 million in the first half.
3Adjusted earnings per share was $1.98, compared with expectations of $1.65, in the second fiscal quarter.
4Fee-earning assets in specialized funds exceeded $44 billion at quarter-end, following growth of nearly 25% over 12 months.

Hamilton Lane reported results for the second fiscal quarter ended September 30, 2026, on November 3, 2026. In the six months ended on that date, incentive fees totaled $154.365 million, up 70% year over year. Over the same period, management and advisory fees reached $325.396 million, an increase of 18%. The difference in growth rates highlights the variation in the sources of fees that generated revenue for the company in the first half. The company said incentive fees included fee-related performance revenue resulting from the quarterly crystallization of performance fees in some of its evergreen funds.

In the second fiscal quarter alone, the company posted revenue of $204.43 million, compared with analyst expectations of $216.36 million. On profitability, adjusted earnings per share came to $1.98, topping expectations of $1.65. Quarterly revenue therefore came in below analyst estimates, while adjusted earnings per share exceeded them. The comparison presents a mixed picture of quarterly performance across revenue and adjusted profitability. Assets under management totaled $151 billion, and assets under advisement stood at $929 billion at quarter-end.

Assets under management rose 4% year over year, while assets under advisement increased 8% from the year-earlier period. In specialized funds, fee-earning assets exceeded $44 billion at quarter-end. The company said this metric grew nearly 25% in the 12 months ended September 30, 2026. This reflects an expansion in the base of fee-earning assets in these funds over the year. This category differs from the company's total assets under management and supervision reported in the previous comparison.

As of September 30, 2025, assets under management and supervision totaled $1.0 trillion, including $145.4 billion in discretionary assets and $859.8 billion in non-discretionary assets. Compared with the year-earlier period for the second fiscal quarter of 2027, the company said assets under management rose 4% to $151 billion, and assets under advisement increased 8% to $929 billion. HLNE shares closed at $87.84 on November 2, 2026, according to EL7 data. The company scheduled a call to discuss results for November 3 at 11:00 a.m. Eastern time. The call was scheduled to discuss second fiscal-quarter results.

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