Specialized Funds was Hamilton Lane’s largest product and service line in fiscal 2026, bringing in $374.41M of $758.99M (49%).
| 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 | — | — | $199.10M | $174.78M | ||||||
| Specialized Funds | $196.27M | — | $315.21M | $374.41M | ||||||
| Management & Advisory Fee Revenue Specialized Funds | — | $261.01M | — | — | ||||||
| Customized Separate Accounts | $117.76M | — | $134.40M | $141.54M | ||||||
| Management & Advisory Fee Revenue Customized Separate Accounts | — | $128.83M | — | — | ||||||
| Incentive Fees | $156.88M | — | — | — | ||||||
| Incentive Fee Revenue Specialized Funds | — | $89.99M | — | — | ||||||
| Advisory | $24.79M | $24.23M | $22.81M | $20.47M | ||||||
| Reporting, Monitoring, Data & Analytics | $24.79M | $24.71M | $29.24M | $35.77M | ||||||
| Reporting & Other | — | — | — | — | ||||||
| Incentive Fee Revenue Customized Separate Accounts | — | $11.92M | — | — | ||||||
| Fund Reimbursement Revenue | $5.71M | $8.10M | $9.58M | $9.87M | ||||||
| Distribution Management | $2.56M | $5.05M | $2.62M | $2.17M | ||||||
| Total | $528.75M | $553.84M | $712.96M | $758.99M |
Hamilton Lane brought in $758.99M from its seven product and service lines in fiscal 2026, the year ended March 31, 2026. That was up 6.5% from $712.96M in fiscal 2025. Specialized Funds was the largest at $374.41M (49.3%), ahead of Total Incentive Fees at $174.78M (23.0%) and Customized Separate Accounts at $141.54M (18.6%). The other four lines brought in $68.28M combined.
Compared with fiscal 2025, Reporting, Monitoring, Data & Analytics grew fastest, up 22.3% to $35.77M, while Total Incentive Fees fell the most, down 12.2% to $174.78M.
Hamilton Lane began breaking out Total Incentive Fees in fiscal 2025, when it brought in $199.10M. Hamilton Lane stopped reporting Management & Advisory Fee Revenue Specialized Funds ($261.01M in fiscal 2024), Incentive Fees ($156.88M in fiscal 2023), Management & Advisory Fee Revenue Customized Separate Accounts ($128.83M in fiscal 2024) and two others as separate lines.
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, Specialized Funds was its largest product and service line, bringing in $374.41M (49.3% of the total), followed by Total Incentive Fees at $174.78M (23.0%).
Specialized Funds was Hamilton Lane's largest product and service line in fiscal 2026, bringing in $374.41M, or 49.3% of the $758.99M total across its seven 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.
Among Hamilton Lane's product and service lines that make up at least 2% of revenue, Reporting, Monitoring, Data & Analytics grew fastest in fiscal 2026, up 22.3% from $29.24M to $35.77M.
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.