Incentive Fees was Hamilton Lane’s largest product and service line in fiscal 2026, bringing in $339.31M of $757.14M (45%).
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Incentive Fees | — | — | — | $174.78M | ||||||
| Management & Advisory Fees | — | — | — | — | ||||||
| Incentive Fees | $6.95M | — | $803.00K | $339.31M | ||||||
| Specialized Funds | $118.21M | $89.99M | $182.90M | $150.50M | ||||||
| Advisory | $24.79M | $24.23M | $22.81M | $20.47M | ||||||
| Reporting, Monitoring, Data & Analytics | $24.79M | $24.71M | $29.24M | $35.77M | ||||||
| Reporting & Other | — | — | — | — | ||||||
| Customized Separate Accounts | $31.72M | $11.92M | $16.20M | $24.28M | ||||||
| Fund Reimbursement Revenue | $5.71M | $8.10M | $9.58M | $9.87M | ||||||
| Distribution Management | $2.56M | $5.05M | $2.62M | $2.17M | ||||||
| Total | $214.72M | $164.00M | $264.15M | $757.14M |
Hamilton Lane brought in $757.14M from its eight product and service lines in fiscal 2026, the year ended March 31, 2026. Hamilton Lane regrouped these lines after fiscal 2025, so the total does not compare directly with that year's $264.15M. Incentive Fees was the largest at $339.31M (44.8%), ahead of Total Incentive Fees at $174.78M (23.1%) and Specialized Funds at $150.50M (19.9%). The other five lines brought in $92.56M combined.
Compared with fiscal 2025, Incentive Fees grew fastest, up 42,154.8% to $339.31M, while Specialized Funds fell the most, down 17.7% to $150.50M.
Hamilton Lane began breaking out Total Incentive Fees in fiscal 2026, when it brought in $174.78M.
Non-Us was Hamilton Lane’s largest region in fiscal 2026, bringing in $448.64M of $758.99M (59%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Non-Us | — | $329.14M | $398.36M | $448.64M | ||||||
| United States | $207.95M | $224.70M | $314.61M | $310.35M | ||||||
| Other Foreign Countries | $320.80M | — | — | — | ||||||
| Israel | — | — | — | — | ||||||
| Total | $528.75M | $553.84M | $712.96M | $758.99M |
Hamilton Lane brought in $758.99M from its two regions in fiscal 2026, the year ended March 31, 2026. That was up 6.5% from $712.96M in fiscal 2025. Non-Us was the largest at $448.64M (59.1%), ahead of United States at $310.35M (40.9%).
Compared with fiscal 2025, Non-Us grew 12.6% to $448.64M, while United States fell 1.4% to $310.35M.
Hamilton Lane began breaking out Non-Us in fiscal 2024, when it brought in $329.14M. Hamilton Lane stopped reporting Other Foreign Countries as a separate region after fiscal 2023, when it brought in $320.80M.
Hamilton Lane (HLNE) reports its revenue by product and service and by geography. In fiscal 2026, Incentive Fees was its largest product and service line, bringing in $339.31M (44.8% of the total), followed by Total Incentive Fees at $174.78M (23.1%).
Incentive Fees was Hamilton Lane's largest product and service line in fiscal 2026, bringing in $339.31M, or 44.8% of the $757.14M total across its eight product and service lines.
Non-Us was Hamilton Lane's largest region in fiscal 2026, bringing in $448.64M, or 59.1% of the $758.99M total across its two regions.
Non-Us grew faster than United States in fiscal 2026, up 12.6% from $398.36M to $448.64M. United States fell 1.4% to $310.35M.
Every figure comes from Hamilton Lane's annual financial filings, as reported. Each line keeps the name Hamilton Lane gives it, and years follow its fiscal calendar.
Hamilton Lane's revenue by product and service goes back to fiscal 2017, with figures through fiscal 2026. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.