Hamilton Lane (HLNE) delivered a robust QQ3 2026 performance characterized by broad-based AUM expansion, a solid strength in fee-related revenue, and meaningful progress on strategic initiatives that expand the firm’s multi-asset, evergreen platform. The quarter closed with AUM of $146 billion and a total asset footprint above $1 trillion, reflecting gains across specialized funds, Evergreen, and customized separate accounts. Fee-earning AUM reached $79.1 billion, up 11% year over year, supported by the Evergreen momentum and continued fundraising activity. Total fee-related revenue for the year-to-date period rose 31% to $57 million, while fee-related earnings expanded 37% to $254.6 million, underscoring a favorable mix shift toward higher-fee-generating strategies.
The firm’s strategic partnerships and new product initiatives anchor the growth trajectory. The Guardian partnership, closed during the period, is expected to contribute approximately $500 million in annual commitments for at least ten years and to allocate at least $250 million of capital to HLNE’s evergreen and private market ecosystem, with initial economic impacts recognized in fiscal 2026. HLNE’s Evergreen platform posted another strong quarter with net inflows exceeding $1.2 billion and AUM surpassing $16 billion, supported by a roughly 70% year-over-year growth figure. Specialized funds continued to be a key driver, with AUM of $38.1 billion, up 22% YoY and 7% QoQ. The company remains focused on scaling its multi-strategy evergreen offerings, including infrastructure and secondaries evergreen funds, which are rapidly approaching $1 billion in AUM.
Management remains constructive on the near-term exit environment and fundraising momentum, noting that 2026 could be stronger for distributions than 2025, aided by a more balanced buyer-seller dynamic and asset maturation. The West/east coast leadership emphasized that HLNE’s absorption of AI-enabled tech and liquidity tools via Pluto Financial Technologies aligns with a broader strategy to deepen private market liquidity and broaden access for both institutional and wealth channels. While acknowledging that the wealth channel will not require a near-term volume explosion, HLNE expects ongoing product expansion and scale across its proprietary platforms. Overall, HLNE’s QQ3 2026 results reflect a disciplined growth narrative supported by durable client relationships, a scalable platform, and capital-light fee economics, with a measured view toward risks including private market cycles and the integration of large partnerships.