Hamilton Lane Inc. Steady Growth in the Evergreen Channel and Attractive Valuation

Goldman Sachs reiterates its Buy rating on Hamilton Lane (HLNE) with a $148 price target, citing resilient evergreen platform growth and a favorable valuation relative to the peer group.

Key Takeaways

• 1.Hamilton Lane's evergreen platform continues to show resilient growth, with April net inflows of ~$265mn easing concerns over a growth slowdown.
• 2.Increased institutional adoption of evergreen products (25% of flows) provides a stickier capital base and more specialized, higher-fee revenue.
• 3.Valuation remains highly attractive, trading at ~10X 2027 FRE and a 0.7X PEG, which GS believes skews risk/reward favorably toward significant upside.

Table of Contents

• Key notables
• Fundraising
• Retail / Evergreen
• Expenses / Margin
• EPS Revisions
• Rating and Valuation
• Upside Risks
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial