Professional
Added to YB: 2026-04-30
Pitch date: 2026-04-28
HLNE [bearish]
Hamilton Lane Incorporated
+1.47%
current return
Author Info
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Company Info
Hamilton Lane Incorporated is a private equity and venture capital firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies.
Market Cap
$3.9B
Pitch Price
$89.94
Price Target
N/A
Dividend
2.41%
EV/EBITDA
11.20
P/E
16.14
EV/Sales
5.78
Sector
Capital Markets
Category
N/A
Inside Hamilton Lane’s Pandora’s Box
HLNE (short): $172M March outflows from GPA fund, largest on record. ~33% of PAF gains from day-one markups on secondaries per Hunterbrook analysis, not real appreciation. New fee structure pulls forward $58M incentive fees on unrealized gains vs traditional realized-only model. Adj FRE margin inflated 32%→59% by adding FRPR & excluding stock comp; without changes, FRE down 16% YoY not up 37%. 30% PAF exposure to software amid SaaSpocalypse. Redemptions risk forced asset sales→markdowns→feedback loop unraveling $17B evergreen model built on accounting magic.
Read full article (16 min)