Hamilton Lane reported third-quarter earnings of $1.55 per share, surpassing the Zacks Consensus Estimate of $1.28 and marking a 24% increase from $1.25 per share in the year-ago quarter. Revenues climbed 18% year-over-year, driven by strong growth in management fees and performance allocations across the firm’s private markets strategies. As of September 30, 2025, assets under management and supervision reached $1.0 trillion, comprised of $145.4 billion in discretionary assets and $859.8 billion in non-discretionary assets, reflecting record fundraising and continued client engagement across North America, Europe, Asia Pacific and the Middle East.

Hamilton Lane successfully held the final close of its Infrastructure Opportunities Fund II, raising $1.5 billion in primary commitments alongside nearly $400 million in related vehicles, exceeding the original $1.25 billion target by approximately 20%. The fund has already deployed about 40% of its capital across 14 middle-market infrastructure deals, including investments in Cold-Link Logistics, Flexential and Dispatch Energy. IOF II attracted more than 30 new limited partners—ranging from public pensions to family offices—underscoring the firm’s global reach and the strong demand for its direct co-investment and secondary strategies.

Co-Chief Executive Officer Erik Hirsch highlighted the firm’s focus on structural private markets themes—such as digitization, AI-enabled supply chains and resource efficiency—as key drivers of deal flow and value creation in the middle market. With a 25-year track record in infrastructure investing and a platform of nearly 200 GP relationships, Hamilton Lane plans to leverage its global presence and data analytics capabilities to expand fee-earning assets and enhance fee-related earnings. The firm reiterated its cautionary stance on forward-looking risks but maintained confidence in sustainable revenue growth and continued AUM accretion through both new fund launches and strategic co-investment vehicles.