Hamilton Lane Incorporated (HLNE) SEC Filings & Earnings Calls

Incentive fee volatility

“Incentive fees are volatile and largely unpredictable as to amount and timing.”

Debt covenant compliance

“The Loan Agreements and the Note Purchase Agreement contain covenants that, among other things, limit HLA’s ability to incur indebtedness.” · word for word

Concentration in private markets

“Our business is dependent on the continued growth and performance of private markets.”

Market and economic volatility could impact fundraising and investment performance.

“Volatile market, economic and geopolitical conditions or catastrophic events, which can adversely affect our fundraising, our business and the investments made by our funds or accounts.” · word for word

Dependence on key personnel and ability to retain senior management.

“Our ability to retain our senior management team and attract additional qualified investment professionals.” · word for word

Controlling stockholder risk

“As of the record date, HLAI holds approximately 50% of the aggregate voting power of our Class A common stock and Class B common stock, and the parties to the stockholders agreement collectively hold approximately 74% of the aggregate voting power of our Class A common stock and Class B common stock. As a result, HLAI has the ability to decide all matters to” · word for word

Tax Receivable Agreement liability

“The payments that we may make under the tax receivable agreement could be substantial. ... If we exercise our right to terminate the tax receivable agreement, or if the tax receivable agreement is terminated early in accordance with its terms, our payment obligations under the tax receivable agreement will be accelerated and will become due and payable in a ” · word for word

Incentive Fee Volatility

“Incentive fees decreased $27.7 million for fiscal 2026 compared to fiscal 2025 due primarily to decreases in the tax-related portion of carried interest distributions and proceeds realized on the sale of underlying investments in one of our specialized funds in the prior year, partially offset by an increase in evergreen-related performance fees.” · word for word

Market and Economic Sensitivity

“Difficult or volatile market, economic and geopolitical conditions and catastrophic events can adversely affect our business and the investments made by our specialized funds, customized separate accounts and advisory accounts in many ways, each of which could materially reduce our revenue, earnings and cash flow.” · word for word

Key Person Risk

“Our ability to retain our senior management team and attract additional qualified investment professionals is critical to our success.” · word for word

Redemption Risk in Evergreen Funds

“The exercise of redemption or repurchase rights by investors in our evergreen funds may adversely affect our revenues.” · word for word

Market volatility could impact AUM and fee income.

“Volatile market, economic and geopolitical conditions or catastrophic events, which can adversely affect our fundraising, our business and the investments made by our funds or accounts.” · word for word

Dependence on key personnel.

“Our ability to retain our senior management team and attract additional qualified investment professionals.” · word for word

Market volatility and economic conditions could impact investment performance.

“Volatile market, economic and geopolitical conditions... can adversely affect our business”

Incentive fee volatility

“Incentive fees are volatile and largely unpredictable as to amount and timing.”

Credit facility dependency

“The Loan Agreements and the Note Purchase Agreement contain covenants that, among other things, limit HLA’s ability to incur indebtedness, transfer or dispose of assets, merge with other companies, create, incur or allow liens, make investments, pay dividends or make distributions, engage in transactions with affiliates and take certain actions with respect ” · word for word

Incentive fee volatility

“Incentive fees are volatile and largely unpredictable as to amount and timing.”

Concentration in private markets

“Our business is dependent on the performance of private markets, which can be affected by volatile market, economic and geopolitical conditions.”

Key person dependency

“Our ability to retain our senior management team and attract additional qualified investment professionals.” · word for word