What changed in this filing

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Item 1. Business

2025-05-30 compared with 2024-05-23 · 128 added, 237 removed, 411 unchanged (47% of the section changed)

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We currently have approximately 760 employees, including 265 investment professionals, operating across 22 global offices servicing our clients throughout the world.

We offer a variety of investment solutions to address our clients’ needs across a range of private markets, including private equity, private credit, real estate, infrastructure, natural resources, growth equity, venture capital and impact.

We offer a variety of investment solutions to address our clients’ needs across a range of private markets, including private equity, private credit, real estate, infrastructure, real assets, growth equity, venture capital and impact.

These solutions are constructed from a range of investment types, including primary investments in funds managed by third-party managers, direct investments alongside such funds and acquisitions of secondary stakes in such funds, with a number of our clients utilizing multiple investment types.

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• Specialized Funds :

We organize, invest and manage specialized primary, secondary and direct investment funds.

We organize, invest and manage commingled specialized primary, secondary and direct investment funds.

Our specialized funds invest across a variety of private markets and include equity, equity-linked and credit funds offered on standard terms, as well as shorter duration, opportunistically oriented funds.

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For the year ended March 31, 2025, our top 10 clients generated approximately 12% of management and advisory fee revenues, and our top 20 clients generated approximately 19% of management and advisory fee revenues with all of our top 20 clients having multiple allocations, products or services with us.

A significant portion of our revenue base is recurring and is based on the long-term nature of our specialized funds and customized separate accounts as well as long-term relationships with many of our clients, providing highly predictable cash flows.

Since our inception, we have experienced consistent, strong growth, which continues to be reflected in our more recent AUM and AUA growth.

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Examples of such expansion include asset classes such as private credit, infrastructure and real assets.

Strategies include investments in businesses with a focus on the core categories of environmental and/or social impact.

Strategies include investments in businesses with a focus on environmentally and/or socially impactful products and services.

Diversify and grow client base.

We aim to continue to expand our relationships with existing clients and intend to capitalize on significant opportunities in new client segments globally, such as smaller institutions and high-net-worth individuals.

We aim to continue to expand our relationships with existing clients and intend to capitalize on significant opportunities with new clients globally, such as smaller institutions and high-net-worth individuals.

We believe these investors offer an attractive opportunity to further diversify and grow our client base because many of them have only recently begun to invest in, or increase their allocations to, alternative investments.

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Given this status, we are often a sought-after partner for technology-oriented businesses that are developing cutting-edge and innovative solutions that will help grow and improve the industry.

We identify and develop strategic partnerships with, and/or opportunistically seek minority stakes in these companies and often, are either a client of these companies or share in a common vision that will provide strategic benefits to both parties.

Examples of these partnerships include Russell Investments Group (a leading outsourced chief investment officer function), Canoe Intelligence (document digitalization and processing), iCapital Network (high-net-worth fundraising portal), Novata (private company ESG data collection), TIFIN (tech-enabled wealth management platform), ADDX (Singapore digital securities exchange), CAIS (alternative investment retail platform), Stashaway (digital wealth management

platform), Hazeltree (treasury and portfolio finance solutions), Securitize (digital/tokenized asset securities firm), Figure (digital fund management solutions), Alta (digital marketplace for alternative investments), ID Register Holdings Limited (investor onboarding services), Daphne Tech Holdings LLC (digital and data infrastructure for the distribution of alternative assets) and Helix by HL (AI enabled wealth management platform).

We identify and develop strategic partnerships with, and/or opportunistically seek minority stakes in, these companies, and often are either a client of these companies or share in a common vision seeking to provide strategic benefits to both parties.

Expand private markets solutions and products to defined contribution, retail and similar pools of investable assets.

We believe we are pioneers in the creation, distribution, and management of products such as specialized secondaries, direct investments and specialty credit strategies that are designed to serve defined contribution retirement plans and similar entities.

contribution retirement plans and similar entities.

Many of our defined contribution retirement plan clients are based outside of the United States, ranging across Australia, Europe, and Latin America, among other geographies.

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Primary investments are investments in private markets funds at the time the funds are initially launched.

The investments take the form of a capital commitment, where the fund

will call capital from investors over time as investments are made.

The investments take the form of a capital commitment, where the fund will call capital from investors over time as investments are made.

At the time we commit capital to a fund on behalf of our specialized funds or customized separate accounts, the investments that the fund will make are generally not known and investors typically have very little or no ability to influence the investments that are made during the fund’s investment period.

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For advisory and customized separate account clients, our investment recommendations and decisions are designed to achieve specific portfolio construction and return objectives mutually developed by us and the clients.

Subject to specific client investment guidelines, we rarely invest in “first time” funds unless the management team has previously worked successfully together and built a credible and impressive track record.

Subject to specific client investment guidelines,

we rarely invest in “first time” funds unless the management team has previously worked successfully together and built a credible and impressive track record.

• Secondary Investments.

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Investment Process and Monitoring

Our investment team is generally organized by investment type (primary, secondary and direct investment).

Our investment team is generally organized by investment type (primary, secondary and direct investment), asset class or strategy and functional area.

The direct investment team is further specialized with separate teams that focus on equity or credit.

We also have a specialized team that analyzes all investment types related to real assets opportunities.

Our evergreen investment team utilizes the same investment process and allocation priority as our institutional single-strategy funds.

Lastly, our portfolio management group draws upon data analysis to form views at the industry level.

Each of these teams, with the exception of private market analytics, has its own discrete investment committees, although there is significant overlap among committee members.

We also have specialized asset class and strategy teams that analyze all investment types related to infrastructure, real estate, and venture capital and growth equity opportunities.

Our dedicated impact team is embedded within our direct equity team and works on our impact strategy, partnering with relevant asset class specialists on intersectional opportunities.

Each of these teams has its own discrete investment committee, with the exception of our real estate and infrastructure teams, which have a combined committee.

Our evergreen portfolio committee oversees the portfolio composition for our evergreen funds with assistance from our portfolio management group and dedicated evergreen portfolio management team.

They analyze approved deals from the various investment teams for portfolio construction and fit for the entirety of our evergreen funds.

Our investment committees are composed of select senior professionals from the organization who collectively review, opine and make the ultimate decision as to the opportunities in which we will invest.

There is significant overlap among committee members.

Our portfolio management group draws upon data analysis to form views at the industry level.

Our sustainability team partners across the investment platform, as well as our corporate functions, to develop strategy and advance our responsible investment agenda.

Regardless of the investment type or strategy, our investment process remains generally consistent, detailed and thorough from sourcing to closing.

Throughout the years, we have invested heavily and prioritized the ability to share data and information efficiently amongst all of our investment teams.

Throughout the years, we have invested heavily and prioritized the ability to share data and information efficiently among all of our investment teams.

The teams leverage our technology systems to guide the investment decision process.

Each of our investment teams incorporates an investment committee that is composed of select senior professionals from the organization who collectively review, opine and make the ultimate decision as to the opportunities in which we will invest.

Our operational due diligence (“ODD”) team is empowered with

separate voting rights on each of the firm’s fund investment opportunities, which means that we will only proceed with investments that are approved by both our investment committee and our ODD team.

Responsible Investment

We believe that building responsible practices and sustainable investing capabilities is imperative to building long-term value in a rapidly changing and increasingly complex world where many countries, communities and individuals are demanding that their investment exposures are increasingly aligned with their views on the topic.

We have a long history of innovating across private markets to deliver to our clients and investors solutions that serve their varied needs.

Within Responsible Investment (“RI”), we have observed a parallel market trajectory with investors requiring a variety of offerings and tailored solutions based on policies, regulations, investment views, and stakeholder alignment, among other reasons.

We continue to invest in our capabilities to deliver enhanced transparency within traditional portfolios and to serve those with more advanced responsible investment and sustainability-related requirements.

We integrate RI, ESG and climate factors into our investment process and consider the financial impact of these underlying factors when making investment decisions.

As long-term investors, we also seek to mitigate the risks within our portfolio, pledging to reach net zero emissions by 2050 or sooner across our discretionary assets under management.

As an important first step towards this goal, we became a signatory to Initiative Climate International (“iCI”) in 2022.

iCI is composed of a platform of leading private equity investors and firms dedicated to understanding and reducing carbon emissions of private equity-backed companies.

We gather data on RI, ESG and climate factors, and generate derivative data through our investment process to qualify investments for investment products and solutions with strategic sustainability requirements.

We believe that tracking sustainability-related data, alongside building tools to assess our deal flow and practices through other frameworks and lenses, has advanced our capabilities to deliver solutions, transparency and insights for investors focused in this area.

Our RI committee governs our approach, including acting as the investment committee for impact investments.

As we evolve, we will continue to review and revisit our approach.

While we do not anticipate changing our broad views around the importance of responsible investing and taking a financial materiality approach to considering RI, ESG and climate factors within our investment process, we may evolve our policies and procedures in the future.

Operational Due Diligence

Our operational due diligence (“ODD”) team is empowered with separate voting rights on each of the firm’s fund investment opportunities, which means that we will only proceed with investments that are approved by both our investment committee and our ODD team.

Each review completed by our ODD team results in a full report documenting each risk area and any existing mitigating factors, our recommendations to each manager and our proprietary risk-rating system.

Allocation of Investment Opportunities

As investments are approved by the relevant investment committees, our portfolio management group utilizes portfolio construction methodologies as it deems appropriate to analyze the portfolios of all clients currently investing and submits a proposed allocation to the chief compliance officer or his designee for review and approval.

On at least a quarterly basis, the allocation committee will review the materials presented by the portfolio management group to determine that the allocations among clients are fair and reasonable, were made in accordance with our contractual obligations and fiduciary duties to our clients and are consistent with our allocation policies.

The allocation committee is composed of senior professionals throughout the organization, including the chief risk officer.

We have worked to institutionalize our approach to responsible investment.

Since 2008, we have been a signatory to the UN-backed Principles for Responsible Investment (“PRI”).

Responsibility for oversight, strategy and guidance on ESG rests with our Responsible Investment Committee (“RIC”), which includes senior members of the firm.

RIC members are also present at every investment committee meeting to monitor investment compliance.

Today, we integrate ESG into our due diligence processes, taking ESG issues into account when making investment decisions.

We employ a proprietary rating system that seeks to benchmark the fund managers with whom we invest to ESG best practices, which means that the standards we expect from our general partners are continuously increasing.

Included in our overall approach to ESG is our ongoing focus on diversity, equity and inclusion (“DE&I”), both at the general partner and underlying portfolio company level.

For more information on ESG and our investment process, see “—Corporate Social Responsibility” below.

The allocation committee is composed of senior professionals throughout the organization.

Monitoring & Reporting

Our client operations group is dedicated to tracking and reporting on primary investments, secondary investments and direct investments that we manage for our clients.

This group also uses the services of third-party administrators and analysts, particularly with respect to specialized funds.

We maintain a disciplined

investment monitoring process designed to adapt portfolio allocation to enhance returns in our advisory and customized separate account portfolios, as well as in our specialized funds.

Once a primary or secondary investment is closed, we have frequent conversations with private markets fund managers, hold periodic in-person meetings (conditions permitting) and attend annual meetings and advisory board meetings.

This process generally is led by senior members of the investment platform.

Our team closely follows the activities and investments in clients’ portfolios.

The team measures adherence to the stated strategies and limited partnership agreement terms.

The team is in regular contact with fund managers, which allows for early detection of potential issues and timely development of constructive recommendations.

We actively track and report on each investment and on overall portfolios.

We provide clients with comprehensive and customized quarterly and annual reports.

Our online, interactive client reporting platform affords clients always-available, secure, internet-based access to their portfolios.

Clients can download timely information on cash flows, adjusted valuations, underlying portfolio company information and other data provided by private markets fund managers or developed internally by our in-house reporting team.

Cobalt LP, our online, proprietary private markets analytics platform, provides clients tools to derive and customize advanced analytics related to portfolio performance and exposures, including benchmarks and forecasts.

Client Service

Our Fund Investment and Management Solutions Team (“FIMS”) includes employees located strategically throughout the world.

At the beginning of the engagement for each advisory account and customized separate account, a senior professional from FIMS is assigned as the principal contact person with that client.

FIMS takes primary responsibility for working with the clients to design their strategic plans and to implement those plans in accordance with agreed upon investment guidelines.

FIMS works directly with our portfolio management group to ensure that all investment opportunities that are appropriate for their clients are considered.

FIMS communicate and meet regularly with their clients to discuss potential investments, funds expected to be raised in the next 12 months, the status of the clients’ portfolios, investment strategies and overall market conditions.

Our approach to managing our products is similar, with dedicated investment platform specialists and portfolio managers working alongside our senior investment and sales professionals to deliver high quality service to our investors.

These dedicated platform specialists and portfolio managers sit alongside our investment teams, and many are also represented on the investment committees of their asset classes/strategies.

Assets Under Management and Advisement

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Sales and Marketing

Our client and private wealth solutions groups consists of a global employee base located strategically throughout the world that allows us to have a local presence in many markets and be closer to our clients.

We intend to grow our global sales force as we seek to continue to build our client base and pursue growth opportunities in less developed private equity markets such as Asia and Australia.

Our client and private wealth solutions groups consist of a global employee base located strategically throughout the world that allows us to have a local presence in many markets and be closer to our clients.

We intend to grow our global sales force as we seek to continue to build our client base and pursue growth opportunities in markets with less established private markets exposure.

See “—Business Strategy.” The execution of our marketing strategy relies primarily on our own business development group, which historically has generated the substantial majority of our new client engagements.

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Our sales professionals lead this process, coordinate meetings, and continue to be the prospective client’s principal contact with us through the decision-making process.

Client Service

Our client service group includes employees located strategically throughout the world.

At the beginning of the engagement for each advisory account and customized separate account, a relationship manager is assigned as the principal contact person with that client.

The relationship managers take primary responsibility for working with the clients to design their strategic plans and to implement those plans in accordance with investment guidelines agreed to by us and the clients.

The relationship managers work directly with our allocation committee to ensure that all investment opportunities that are appropriate for their clients are considered.

The relationship managers communicate and meet regularly with their clients to discuss potential investments that we are currently considering, funds expected to be raised in the next 12 months, the current status of the clients’ portfolios, investment strategies and overall market conditions.

Within the client service group, our client operations group is dedicated to tracking and reporting on primary investments, secondary investments and direct investments that we manage for our clients.

This group also uses the services of third-party administrators and analysts, particularly with respect to specialized funds.

We maintain a disciplined investment monitoring process designed to adapt portfolio allocation to enhance returns in our advisory and customized separate account portfolios, as well as in our specialized funds.

This process generally is led by members of the investment team but also includes members of the relationship management team as well as other members of the senior management team.

We have active advisory board seats on behalf of our clients and participate on numerous valuation committees.

Our team of professionals closely follows the activities and investments in clients’ portfolios.

The team measures adherence to the stated strategies and limited partnership agreement terms.

The team is in regular contact with fund managers, which allows for early detection of potential issues and timely development of constructive recommendations.

We actively track and report on each investment and on overall portfolios.

We provide clients with comprehensive and customized quarterly and annual reports.

iLevel, our online, interactive client reporting platform, affords clients always available, secure, internet-based access to their portfolios.

Clients can download timely information on cash flows, adjusted valuations, adjusted capital account schedules,

underlying portfolio company information and other data provided by private markets fund managers or developed internally by our in-house reporting team.

Fees and Other Key Contractual Terms

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The discretion to invest committed capital generally is subject to investment guidelines established by our clients or by us in conjunction with our clients.

While the specific terms of our contracts vary significantly from client to client, generally our customized separate account clients are charged asset-based fees annually on committed or net invested capital and/or net asset value.

These fees often decrease over the life of the contract due to built-in declines in contractual rates and/or as a result of lower net invested capital balances as capital is returned to clients.

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Our capital commitment to such an investment vehicle is generally 1% of total capital commitments but in certain cases may be higher or lower.

We manage these investment vehicles under an investment management

agreement between the investment vehicle entity and us, and we manage all aspects of the vehicles, utilizing the services of third parties as needed, including administrators and custodial banks.

We manage these investment vehicles under an investment management agreement between the investment vehicle entity and us, and we manage all aspects of the vehicles, utilizing the services of third parties as needed, including administrators and custodial banks.

Specialized Funds

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The terms of each fund vary.

We have described below the key terms of these funds.

We have described below certain of the key terms of these funds.

In addition, we sponsor funds designed to provide investors periodic liquidity, which primarily invest in secondaries and direct investments (the “evergreen funds”).

One evergreen fund is marketed to investors outside of the United States, and in the United States, we offer a similar vehicle for U.S.

investors, which is registered under the Securities Act and as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).

Additionally, we sponsor a credit-focused evergreen fund on a private placement basis, primarily outside of the United States, and we may offer additional evergreen funds in the future with other specialized strategies.

Certain of these evergreen funds are marketed to investors outside of the United States, and in the United States, we offer similar vehicles for U.S.

investors, which are registered under the Securities Act and as investment companies under the Investment Company Act of 1940, as amended (the “Investment Company Act”).

We may also offer additional evergreen funds in the future with additional specialized strategies.

Capital Commitments.

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The material terms of our investment management agreements relate to the scope of services to be rendered by the Manager to the applicable funds and certain rights of termination.

The funds themselves do not register as investment companies under the Investment Company Act, in reliance on exemptions from such registration other than as described with respect to the evergreen funds.

The funds themselves do not register as investment

companies under the Investment Company Act, in reliance on exemptions from such registration other than as described with respect to the evergreen funds.

The Manager generally makes all decisions concerning the making, monitoring and disposing of investments pursuant to authority delegated by the specialized fund’s general partner.

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Management Fees .

We earn management fees based on a percentage of limited partners’ capital commitments to, net invested capital or net asset value in, our specialized funds.

The management fee during the investment period is often charged on capital commitments and after the investment period (or a defined anniversary of the fund’s initial closing) is typically reduced by a percentage of the management fee for the preceding year or charged on net invested capital or net asset value.

We earn management fees based on a percentage of capital commitments to, net invested capital or NAV in, our specialized funds.

In the case of certain funds, we charge management fees on capital commitments, with the management fee increasing during the early years of the fund’s term and declining in the later years.

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Incentive fees comprise carried interest earned from our specialized funds and certain customized separate accounts structured as single-client funds in which we have a general partner commitment, and performance fees earned on certain other specialized funds and customized separate accounts.

The incentive fees charged by our specialized funds are generally referred to as “carried interest.” Our primary funds invest the majority of their capital in other private markets funds on a primary basis, and certain of our primary funds earn carried interest on these investments.

Our primary funds invest the majority of their capital in other private markets funds on a primary basis, and certain of our primary funds earn carried interest on these investments.

To the extent that our primary funds also directly make secondary investments and direct investments, they generally earn carried interest equal to a fixed percentage of net profits, subject to a compounded annual preferred return in respect of those investments.

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In the case of certain of our direct investment funds, strategic opportunity funds and evergreen funds other than our credit-focused evergreen fund, we earn carried interest on a deal-by-deal basis.

If, upon the final distribution of any of our specialized funds from which we earn carried interest, we and our affiliates have received cumulative carried interest in excess of the amount to which we would be entitled from the profits calculated for such investments in the aggregate, or if the limited partners have not received distributions equal to those to which they are entitled, the carried interest recipient will typically return such part of any carried interest to the limited partners as is necessary to ensure that they receive the amounts to which they are entitled, less taxes on the carried interest.

part of any carried interest to the limited partners as is necessary to ensure that they receive the amounts to which they are entitled, less taxes on the carried interest.

We refer to these provisions as “clawbacks.” Most of our funds that provide for carried interest require a full return of capital and expenses to investors before any carried interest is paid to us, which minimizes the risk of a clawback obligation.

Performance fees are based on the aggregate amount of realized gains earned by the applicable customized separate account, subject to the achievement of defined minimum returns to the clients.

Performance fees are based on a fixed percentage of net profits, subject to a compounded annual preferred return that varies by account.

Performance fees are based on the aggregate amount of unrealized or realized gains earned, subject to the achievement of defined minimum returns to the clients or a high-water mark.

Performance fees are based on a fixed percentage of net profits with some subject to a compounded annual preferred return that varies by account.

We do not generally recognize performance fees unless the risk of clawback or reversal is not probable.

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Certain of our strategic opportunities funds terminate five years after the last date on which a limited partner may be admitted to the fund.

Our funds are generally subject to extension for up to two years at the

discretion of the general partner and thereafter if consent of the requisite majority of limited partners or, in some cases, the fund’s advisory committee is obtained.

Our funds are generally subject to extension for up to two years at the discretion of the general partner and thereafter if consent of the requisite majority of limited partners or, in some cases, the fund’s advisory committee is obtained.

Our evergreen funds do not have a fixed term.

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Our principal competition for customized separate accounts is mostly other highly specialized and independent private markets asset management firms.

We compete primarily in the advisory services area of the business with firms that are regionally based and with a select number of large consulting firms for whom private markets investments is only one, often small, portion of their overall business.

We compete primarily in the advisory services area of the business with firms that are regionally based and with a select number of large consulting firms.

In order to grow our business, we must be able to compete effectively to maintain our existing client base and attract additional clients in advisory services, customized separate account and specialized fund areas of the business.

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Intellectual Property

We own or have rights to trademarks, service marks or trade names that we use in connection with the operation of our business.

In addition, our names, logos and website names and addresses are owned by us or licensed by us.

We also own or have the rights to copyrights that protect the content of our solutions.

We own or have a license to the trademarks, service marks or trade names that we use in connection with the operation of our business.

In addition, our trade names, logos and website names and URL addresses are owned by us or have been licensed to us.

We also own or have a license to the copyrights that protect the content of our solutions.

We believe that the “Hamilton Lane” trade name, logos and website are material to our operations.

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Our attorneys also review and make recommendations regarding amendments and requests for consents presented by the fund managers from time to time.

In addition, our legal team is responsible for preparing, reviewing

and negotiating all documents relating to the formation and operation of our specialized funds to investors in the United States.

In addition, our legal team is responsible for preparing, reviewing and negotiating all documents relating to the formation and operation of our specialized funds to investors in the United States.

We utilize the services of outside counsel as we deem necessary.

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subsidiaries and operations.

In addition, the compliance team is responsible for all regulatory matters relating to Hamilton Lane Securities LLC, our Securities and Exchange Commission (“SEC”)- and Financial Industry Regulatory Authority (“FINRA”)-registered broker-dealer affiliate through which we offer interests in our specialized funds.

In addition, the compliance team is responsible for all regulatory matters relating to Hamilton Lane Securities LLC, our SEC- and Financial Industry Regulatory Authority (“FINRA”)-registered broker-dealer affiliate through which we offer interests in our specialized funds.

Risk Management

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The ERM committee’s primary purpose is to seek to ensure that an effective risk management framework is in place, monitor risk-related activities on an ongoing basis, and opine on issues involving material conflicts of interest.

The committee is composed of the chief operating officer, who is also our chief risk officer, general counsel, chief financial officer, chief compliance officer, chief technology officer, head of investments, and head of client legal.

The ERM committee meets on a quarterly and as-needed basis.

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By virtue of its role as investment manager of these funds, HLA is a “fiduciary” under ERISA with respect to such benefit plan investors.

ERISA and the Internal Revenue Code of 1986, as amended (the “Code”), impose certain duties on persons that are fiduciaries under ERISA, prohibit certain transactions involving benefit plans and “parties in interest” or “disqualified persons” to those plans, and provide monetary penalties for violations of these prohibitions.

ERISA and the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), impose certain duties on persons that are fiduciaries under ERISA, prohibit certain transactions involving benefit plans and “parties in interest” or “disqualified persons” to those plans, and provide monetary penalties for violations of these prohibitions.

With respect to these funds, HLA relies on particular statutory and administrative exemptions from certain ERISA prohibited transactions, which exemptions are highly complex and may in certain circumstances depend on compliance by third parties whom we do not control.

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We provide investment advisory and other services and raise funds in a number of countries and jurisdictions outside the United States.

In many of these countries and jurisdictions, which include the European Union (“EU”), the European Economic Area (“EEA”), the individual member states of each of the EU and EEA, Australia, Canada, China, Hong Kong, Israel, Japan, Mexico, Singapore, South Korea, Switzerland and the United Kingdom (“U.K.”), we and our operations, and in some cases our personnel, are subject to regulatory oversight and requirements.

In many of these countries and jurisdictions, which include the European Union (“EU”), the European Economic Area (“EEA”), the individual member states of each of the EU and EEA, Australia, Canada, Chile, China, Hong Kong, Israel, Japan, Mexico, Singapore, South Korea, Switzerland, the United Arab Emirates and the United Kingdom (“U.K.”), we and our operations, and in some cases our personnel, are subject to regulatory oversight and requirements.

In general, these requirements relate to registration, licenses for our personnel, periodic inspections, the provision and filing of periodic reports, and obtaining certifications and other approvals.

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We have also obtained a MiFID II license for one of our EU-based (non-U.K.) subsidiaries to replace the MiFID II license held by our U.K.-based subsidiary, which is no longer valid after Brexit.

Our Culture and Focus on Diversity, Equity, Inclusion & Belonging

Fostering a diverse, equitable and inclusive environment is core to our corporate mission to enrich lives and safeguard futures, and we leverage our status as a global leader in the private markets to promote diversity and inclusion to the benefit of employees, clients, the community and our industry overall.

Our organization is focused on doing the right thing, acting with integrity, pursuing excellence in all that we do

and promoting equity and inclusion from within.

This starts with a commitment to our employees to create a workplace environment where they can thrive both professionally and personally, and where our employees feel comfortable bringing their whole selves to the workplace.

Any employee found to have exhibited any inappropriate conduct or behavior against others will be subject to disciplinary action, up to and including termination.

Our Diversity, Equity, Inclusion & Belonging (“DEI&B”) Council aims to raise awareness about the importance and benefits of fostering an inclusive work environment and culture.

We know that smart teams do great things, but diverse teams can do truly incredible things, and the way to affect change is to help create it.

This is articulated in one of our corporate values, “Promoting Equity and Inclusion from Within.”

We are guided by a genuine belief that in order to diversify and, therefore, improve the composition of our asset class, we must advocate for, educate and include underrepresented candidates early and often.

Our partnerships with organizations such as Girls Who Invest, Women Societies Alliance, SEO, Heights Philadelphia, Big Brothers Big Sisters and Philadelphia Financial Scholars, as well as initiatives aimed at expanding our recruiting efforts at diverse colleges and universities, the Hamilton Lane Women’s Exchange (“HLWE”), our annual Undergraduate Women’s Private Equity Summit and our Emerging Talent Program, are a testament to this belief.

In addition to our recruiting and retention efforts, we recognize that a true commitment to diversity requires a proactive and multi-faceted approach.

We have multiple employee-led programs designed to help our colleagues with skill development, career progression and work-life balance, as well as to facilitate open dialogues around important topics such as race, inclusion and social justice.

We empower our people to come together to share experiences, culture and perspectives so that we can support each other.

Employee resource groups and community action groups allow for our people to unite around a common goal of uplifting our colleagues and our communities around us.

We believe that our strong culture is a key factor driving our success in developing and maintaining high-quality relationships with current/prospective employees, clients, prospects, business partners and the communities within which we live and work.

We believe that our strong culture is a key factor driving our success in developing and maintaining high-quality relationships among our employees and with our clients, prospects, business partners and the communities within which we live and work.

With approximately 760 employees worldwide as of March 31, 2025, we are proud that our culture has been recognized annually for the last 13 years by Pensions & Investments magazine, a leading investment publication, as a “Best Place to Work in Money Management” since the inception of the list in 2012.

In addition, we have been recognized by the Central Penn Business Journal as a “Best Place to Work in Pennsylvania,” also for the last 12 consecutive years.

Most recently, Hamilton Lane was named to Forbes’ inaugural Financial All-Stars list in 2023.

At Hamilton Lane, we remain fully committed to DEI&B.

We are proud of our organization’s history of embracing and championing diversity.

As an organization, we are focused on doing the right thing, acting with integrity, pursuing excellence in all that we do and promoting equity and inclusion from within.

We are committed to hiring and developing excellent talent, providing aligned economic incentives and benefits, and creating an environment where our employees can thrive both professionally and personally.

We recognize that every individual brings unique experiences, perspectives and talents to our firm.

We are committed to cultivating an environment where all employees feel empowered to bring their whole selves to work, enabling them to perform at their best.

Our comprehensive approach, Belong@HamiltonLane, embeds inclusive principles into our values, culture and practices.

Our success is because of our people – our colleagues across the globe who bring their authentic selves to work every day.

Together, we believe diverse perspectives lead to informed decisions designed to benefit our clients, our employees and our competitive edge.

Talent Acquisition and Retention

Our Human Resources department, in close collaboration with our DEI&B Council, has implemented a core set of competencies and practices that equip employees with the knowledge and skills to create a supportive environment for all.

This program centers around four pillars (recruiting/retention, education, employee resource groups and external partnerships) that collectively lay the foundation that ensures that Hamilton Lane remains a place that is inclusive of everyone, seeking to ensure that no individual feels excluded or marginalized.

We are committed to enhancing our DEI&B initiatives, emphasizing the importance of community and inclusivity as core values.

The firm recognizes that our people are the essence of Hamilton Lane, and aims to ensure that every individual feels included and valued.

The DEI&B program is designed to celebrate and leverage the diversity of its team members, acknowledging their unique perspectives as critical to the firm’s success.

The goal is to create an environment where differences drive innovation and growth, fostering a

culture of belonging and communal harmony.

This program is not merely a set of initiatives but a reflection of Hamilton Lane’s identity and aspirations, striving to build a firm where every person, regardless of background or identity, feels like an integral part of a shared journey.

As of March 31, 2024, 53% of our employees were women or ethnically underrepresented professionals and 49% of investment team roles were held by women or ethnically underrepresented professionals.

“Ethnically underrepresented” means employees who self-identify based on race or ethnicity in the country of the employee’s principal office location.

As of March 31, 2024, approximately 42% of our employees were women and 32% of senior leadership roles were held by women.

Employee Engagement

In addition to our recruiting and retention efforts, we recognize that a true commitment to diversity requires a proactive and multi-faceted approach.

Furthermore, employees have the opportunity to participate in our formal Mentoring Program, which is designed to help less tenured employees foster relationships with more experienced colleagues and/or peers in different departments with the goal of enhancing professional and personal development and growth.

In addition to formalizing a DEI&B strategy with clear objectives and aspirations for increasing the diversity of our workforce, we have recently focused on a number of other human capital initiatives.

In support of our DEI&B strategy, we launched the Hamilton Lane Emerging Talent Internship program, designed to introduce women and ethnically underrepresented students to Hamilton Lane and to the opportunities in the private markets.

Our employees are empowered to organize efforts, with the support of the DEI&B Council and the broader firm, to create affinity and action groups.

Today, we are proud to support the work of our employee resource groups (HLWE – Women’s exchange for women+ employees, HLPride – for LGBTQIA+ and allies, HLHome – black, indigenous, and other people of color affinity group, HLinAction – volunteerism and charitable giving opportunities, HLGreen – promoting sustainability and HLWell – fostering personal wellness).

From our diverse perspectives, we can make informed decisions designed to benefit our clients, our employees and our competitive edge.

Talent Acquisition, Retention and Development of Human Capital

Our Human Resources department, in close collaboration with our Belong@HamiltonLane Council, has implemented a core set of competencies and practices that equip employees with the knowledge and skills to create a supportive environment.

This program centers around four pillars:

recruiting/retention, education, employee resource groups and external partnerships.

We have an Emerging Talent Internship Program designed to introduce future candidates to careers in the private markets.

This internship program is designed to support broadening access to information on career paths within the private markets, identify talent for Hamilton Lane, and support our developing junior managers.

Employees can participate in our formal mentoring program, which is designed to help less tenured employees foster relationships with more experienced colleagues or peers in different departments with the goal of enhancing professional and personal development and growth.

Employees can also participate in the leadership of our employee resource groups (“ERGs”) overseen by Belong@HamiltonLane, or attend programs and events put on by our ERGs that are designed to support skill development, career progression, work-life balance, continuing education and networking.

Employees are also empowered to get involved in championing and participating in volunteerism efforts overseen by our Corporate Social Responsibility (“CSR”) committee.

Employees are awarded volunteer time off annually to participate in these opportunities to engage with each other and uplift their communities.

At Hamilton Lane, we remain fully committed to our efforts to attract, retain and develop talented professionals across all measures of diversity and individuality and continue to drive a culture of belonging.

We are proud of our organization’s history of embracing diverse and global perspectives to drive innovation and growth within our business.

Compensation and Benefits

In order to make working at Hamilton Lane an attractive proposition for current and prospective employees, we have developed a comprehensive total rewards compensation program.

The elements of this program are designed to recognize and reward individual performance and recognize contributions that align with and drive positive business results.

In order to attract and retain current and prospective employees, we have developed a comprehensive total rewards compensation program.

The elements of this program are designed to reward individual performance and recognize contributions that align with and drive positive business results.

We believe that a compensation system that incentivizes actions that grow stockholder value closely aligns our employees with the interests of our stockholders.

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We believe a blend of variable and longer-term components further attracts and incentivizes talent, provides an overall compensation package that is competitive with the market and encourages retention of top performers.

Our benefits include 16 weeks of fully paid parental leave plus one additional week to be used on demand, regardless of gender identity, lactation and milk shipping services, assisted reproductive technology and adoption support, back-up child, elder and self-care, workplace flexibility, mental health services and a number of financial wellness benefits including educational assistance, a student loan refinancing and repayment program, commuter benefits and our Employee Share Purchase Plan, as amended, through which employees can purchase shares of our Class A common stock at a discounted price.

Corporate Social Responsibility

For more than 30 years, Hamilton Lane has proudly helped our clients and their beneficiaries achieve more financially secure futures.

We believe responsible and sustainable investing is a global business imperative and is key to building long-term value in a rapidly changing and increasingly complex world.

Many nations, communities and individuals are demanding that companies prioritize ESG issues, as well as advance more diverse, equitable and inclusive workplaces.

Investment sectors cannot afford to sit on the sidelines of these issues, and that certainly holds true for the private markets.

As a global leader in our asset class, Hamilton Lane has consistently been at the forefront of industry changes, often helping to influence and drive them.

And our commitment to responsible and sustainable investing practices is no exception.

In fact, one needs to look no further than our mission statement – we enrich lives and safeguard futures – to see that the notion of investing responsibly is core to our culture and values.

To accomplish this, we are committed to selecting investment partners who we believe share our values and those of our clients.

Responsible investing makes good business sense as it integrates the desire for reducing risk with the goal of creating better outcomes for all stakeholders.

Our Continued Commitment to ESG & Sustainability Issues

Hamilton Lane has long been focused on ESG issues, and has been formally including ESG in our final investment reports since 2010.

Our RIC was established in 2012, and each of our investment teams factor ESG considerations into their investment processes.

We raised our first dedicated Impact Opportunities Fund in 2019 and launched our second Impact Opportunities Fund in 2021, with each fund seeking to make direct investments in businesses with a focus on environmental and social impact.

Educating our internal teams remains a core pillar of our approach to sustainability and responsible investing.

We work with each investment team to learn, educate, discuss and integrate best practices across functional areas, including due diligence, investment memoranda development, monitoring and reporting.

We have a dedicated sustainability team whose responsibilities include supporting the broader firm with insights and solutions seeking to evolve and develop our sustainability and impact programs, as well as our ESG risk management practices, in line with client needs and industry best practices.

Our sustainability team partners across Hamilton Lane, influencing and contributing to activities such as sustainable investing, sustainable portfolio construction, risk management, post-investment management and monitoring, reporting, client solutions and compliance, among others.

In addition, we intend to continue to develop our investment team integration as it relates to ESG and sustainability topics with the goals of enhancing collaboration, broadening the scope of coverage, and increasing participation across our investment business.

We are actively growing our dedicated sustainability team and resources.

As a financial services company, the majority of our emissions stem from purchased energy to run our offices and business travel.

As an employee’s compensation increases, a greater proportion of that employee’s total compensation is paid in the form of long-term equity and other awards relative to short-term cash compensation.

We believe this more effectively motivates our senior management team to focus on the long-term growth of our business and corresponding increases in stockholder value.

Our benefits include 12 weeks of fully paid parental bonding leave plus one additional week to be used on demand (regardless of gender identity), lactation and milk shipping services, assisted reproductive technology and adoption support, back-up child, elder and self-care, workplace flexibility, mental health services and a number of financial wellness benefits including educational assistance, a student loan refinancing and repayment program, commuter benefits and our Employee Share Purchase Plan, as amended, through which employees can purchase shares of our Class A common stock at a discounted price.

Corporate Sustainability

We believe that strategically establishing business practices that serve to support our ability to deliver to our clients and investors both today and in the future is imperative.

As a financial services company, most of our greenhouse gas emissions stem from purchased energy to run our offices and business travel.

We calculate our carbon footprint based on our Scope 1, 2, and 3 emissions, excluding financed emissions, and have committed to carbon neutrality for our operations going back to 2019.

We have partnered with a climate and sustainable development expert, Climate Impact Partners, to offset the emissions of our calendar 2019 - 2021 operations, we are currently working toward offsetting emissions from our calendar 2022 operations, and we are collecting data necessary to calculate our calendar 2023 emissions.

The partnership seeks to offset carbon dioxide emissions by supporting projects with third-party verified carbon credits as well as societal benefit.

We have historically supported a wind power project in India, two world-leading clean cooking projects in Bangladesh and Ghana and the Aqua Clara water filter project in Kenya.

This water filter project reduces emissions by removing the current practice of using fire to boil and

clean water and promotes health, safety and improved quality of life within the population.

Since 2022, we have worked with a third party on data verification and calculation of our carbon footprint before purchasing offsets.

We received a carbon neutral certification from Climate Impact Partners for our calendar 2021 operations.

We are also exploring multiple avenues to reduce our carbon intensity in line with the Task Force on Climate-Related Financial Disclosures (“TCFD”) recommendations.

We have also made a pledge to reach net-zero emissions by 2050 or sooner across all discretionary assets under management.

As an important first step towards this goal, we became a signatory to Initiative Climate International (“iCI”) in 2022.

iCI is affiliated with PRI and is composed of a platform of leading private equity investors dedicated to understanding and reducing carbon emissions of private equity-backed companies.

It was founded to help ensure the private equity industry plays its part in meeting the goals of the Paris Agreement on Climate Change (the “Paris Agreement”).

Its members commit to active engagement with portfolio companies to manage and reduce emissions and to promote sustainability.

Our corporate headquarters in Conshohocken, Pennsylvania, a suburb of Philadelphia, was awarded a Silver LEED (Leadership in Energy and Environmental Design) certification as well as a Fitwel certification.

The LEED certification demonstrates the value we place on locating our headquarters in an energy and resource-efficient building.

The Fitwel certification demonstrates our commitment to the health and wellness of our employees.

We incorporated ESG considerations into our design and furnishing choices, the office offers spaces designated for personal wellness, mental health and well-being and employee connectivity, and we have taken steps to reduce paper and single-use plastics consumption and other waste.

HL Green, an employee-led initiative formed in 2019, plans to continue researching and advising on opportunities for the firm to engage employees in practices that help protect the environment and promote sustainability both in the office and beyond.

In 2021, we partnered with a consortium of investors to form Novata, a public benefit corporation created to provide a technology platform that helps private equity firms and private companies navigate the complex ESG landscape.

The platform simplifies the process for selecting ESG reporting metrics, provides a secure database to collect and store data and enables its users to make informed investment decisions and report to key stakeholders using insights and analytics tools.

We worked with Novata to digitize our fund ESG diligence questionnaire and our annual ESG/DE&I survey, both of which we are now issuing through Novata’s platform.

We are also issuing data collection for impact key performance indicators and other non-financial metrics across selected products through Novata and seek to explore the buildout of further use cases.

In 2023, we became signatories to the ESG Data Convergence Initiative, an organization with the goal of creating a critical mass of meaningful, performance-based ESG data from private companies by converging on a standardized set of ESG metrics for private markets.

The standard will allow general partners and portfolio companies to benchmark their current positions and generate progress toward ESG improvements, while enabling greater transparency and more comparable portfolio information for limited partners and investment managers.

In our role as investment manager, we will encourage the general partners with whom we work to use this framework.

Safeguarding Futures

At Hamilton Lane, we take seriously our goal of generating strong investment returns for our clients and their beneficiaries, while incorporating ESG and sustainability principles into our investing practices.

long-standing focus on ESG and sustainability issues has been reinvigorated in part because of the growing importance such practices have for our clients and our own genuine commitment to responsible investing.

Investing Responsibly

Hamilton Lane’s RIC was established in 2012 and is responsible for oversight, strategy and guidance on all ESG matters, including our ESG policy.

Our longstanding RIC shows the importance of responsible investing and effective ESG risk management at Hamilton Lane.

The RIC meets regularly to determine relevant updates to our corporate ESG policy and to ensure continued thought development on ESG policy.

RIC members are also present at every investment committee meeting to monitor investment compliance with the corporate ESG policy.

The RIC meets separately when an investment has significant ESG risk and/or when compliance with corporate ESG policy is not straightforward.

Further, the RIC meets to approve all investments that are considered for Hamilton Lane’s impact funds.

We fully integrate ESG into all of our investment due diligence processes and utilize third-party risk rating and identification metrics to understand the geographic, social and environmental risks across industries and investments.

As part of our standard process, we rate general partners based on their approach and integration of ESG, the risk profile of their track record and the risk profile of the proposed strategy, helping our clients understand how their general partners are performing while also allowing us to identify the areas in which to engage with the general partners.

Our proprietary rating system seeks to benchmark general partners to best practices, which means that the standards we expect from our general partners are continuously increasing.

In 2022, we continued to embed ESG throughout our due diligence processes, including the integration of ESG earlier in our process, through the inclusion of tracking EU Sustainable Finance Disclosure Regulation (“SFDR”) Articles and other ESG factors in our screening and meeting memoranda.

Further, we have enhanced our proprietary ESG Organizational Rating Framework as an extension of the ESG rating system, comprised of 23 variably weighted ESG-related questions.

General partners are ranked on a scale of one to five to produce an aggregated organizational ESG score.

Included in our overall approach to ESG is our ongoing focus on diversity and social inclusion both at the general partner and underlying portfolio company level.

This process is both qualitative and quantitative, and final recommendations are based on whether an investment satisfies both parts of the process.

Further, we work with both general partners and our clients to help them develop their own ESG policies and procedures, as necessary.

By incorporating ESG factors across our investment process and increasing the level of available information, we are aiming to help our clients better understand and meet their responsible investing objectives.

We use our best efforts not to invest discretionary capital in companies that operate in excluded sectors.

Post-investment, we monitor general partners and their developing portfolios and direct investment portfolio companies to ensure adherence to ESG policies and commitments.

We have implemented technology solutions to actively monitor ESG incidents in products and client portfolios.

This new technology allows us to become aware of ESG risks sooner and engage our investment teams and the general partners with whom we have invested, depending on a materiality assessment.

We have procedures in place for our evergreen and closed-end products for materiality evaluation, escalation and engagement, and have developed procedures with respect to several discretionary client portfolios.

To further increase our monitoring of ESG metrics, Hamilton Lane began issuing our detailed annual ESG/DE&I survey to all managers with whom we have invested discretionary capital as an annual exercise in 2020, so our teams can assess whether managers are meeting their ESG goals year over year, and where they may be lagging.

This provides another avenue for potential engagement to improve ESG integration in the industry.

We ultimately seek to standardize ESG reporting capabilities across our platform.

At Hamilton Lane, we guide our team to take a materiality approach to risk assessment pre-investment, outlining core risks and attributes of each investment to our investment committee, including those related to ESG.

We seek to partner with managers who are managing and mitigating ESG risk within their investment practices rather than excluding entire sectors from our investment remit.

However, special consideration and enhanced scrutiny are given to investments in areas with potentially higher ESG risks, such as mining, fossil fuel production, deforestation, alcohol, gambling and companies with operations in regions with a history of ESG abuses.

We aim to highlight material risks in our pre-investment assessments and generally have not prescribed a defined list of investment criteria given our broad investment coverage;

however, we have outlined some sensitivities to guide our investment teams.

As it relates to environmental risks, we are sensitive to topics such as greenhouse gas emissions, pollution, natural resource consumption and waste management.

As it relates to social risks, we are sensitive to topics such as board composition, employee diversity, workplace conditions, supply chain practices, consumer protections and broader societal impacts.

As it relates to governance, we are sensitive to topics such as ownership structures, voting rights, compensation, accounting practices, and processes for dealing with conflicts of interest.

As we evolve, we will continue to review and revisit our approach.

While we do not anticipate changing our broad views around the importance of responsible investing and taking a materiality approach within our underwriting process, we may evolve our policies and procedures as it relates to our sensitivities and exclusions and guidance to our investment teams on handling them.

Today, given the risks they pose to our planet and collective well-being, we do not directly invest through our discretionary capital in thermal coal, oil sands, or non-sustainable forestry practices.

Given the risks they pose to our neighbors around the world, we do not directly invest through our discretionary capital in companies that derive revenue from or support controversial weapons (defined as chemical/biological, nuclear, cluster munitions and landmines), abusive lending practices, pornography, animal cruelty, child labor, human trafficking or forced labor.

Our approach to impact investing moves beyond our integrated ESG procedures and targets investments that have intentionality around non-financial environmental or social goals.

We place emphasis on measurable and reportable impact through a variety of matrices.

The same rigorous underwriting, shared intelligence, data and resources are utilized across Hamilton Lane’s investment and research activities, but with a view towards impact.

From initial ESG screening to monitoring and reporting, the impact assessment is overseen by the RIC.

The impact assessment consists of an initial impact screening, full impact due diligence and post-close monitoring and reporting of identified impact metrics.

Furthermore, we have been a signatory to the PRI since 2008 and also helped develop the PRI Limited Partners’ Responsible Investment Due Diligence Questionnaire.

In 2023, we became a member of the Responsible Investment Association Australasia (“RIAA”), which champions responsible investing and a sustainable financial system in Australia and New Zealand.

RIAA is dedicated to ensuring capital is aligned with achieving a healthy society, environment and economy.

Environmental Best Practices

Climate change and environmental degradation are among the largest challenges that face the investment industry and humanity as a whole.

A purely exclusionary approach is not sufficient to solve these problems, but rather a holistic one is required.

On behalf of our clients, we will seek to invest meaningfully into climate solutions and areas where we and our investment partners can drive significant de-carbonization and will endeavor to invest in the fossil fuel production sector only through managers who realize and are working to de-risk these assets in ways aligned with the Paris Agreement.

Additionally, we seek to avoid oil and natural gas-related assets (upstream, midstream, or downstream) unless the general partner or deal sponsor has indicated a full understanding of the climate-related risks involved, and has adopted a comprehensive ESG policy that includes the ability to measure and report on climate-related risks and mitigation efforts being undertaken in the portfolio.

We expect to expand this to other carbon intensive sectors in the future.

We seek to identify managers that incorporate environmental best practices or who have shown significant progress towards industry best practices through our request-for-information process and annual ESG/DE&I surveys.

We recognize that risks vary by sector and deal and understand a suitable environmental risk mitigation strategy will depend on the associated risks of the manager’s investment focus.

Social Best Practices

Hamilton Lane has long prioritized both our internal diversity efforts across our global teams and the health of the communities in which we invest and operate.

In early 2021, we became a signatory to the

Diversity in Action Initiative of the Institutional Limited Partners Association (“ILPA”).

This effort focuses on foundational actions that limited partner and general partner organizations are taking to advance DE&I, both internally and throughout the industry more broadly.

In 2022, we partnered with Ownership Works, a nonprofit organization that works with companies and investors to provide all employees with the opportunity to build wealth through equity, and Mario Giannini, one of our executive co-chairmen, serves on its board of directors.

Also in 2022, we officially became a member of the National Association of Investment Companies, the largest network of diverse-owned private equity firms and hedge funds.

We are a member firm of Out Investors, a global network with a mission to make the investing industry more welcoming for LGBTQ professionals.

In addition, we seek to partner with managers who share our dedication to these issues and exhibit progress towards industry best practices, which we assess through our request-for-information process and annual ESG/DE&I survey.

We also seek to invest in diverse organizations and partner with managers who share a commitment to DE&I.

As of December 31, 2023, we invested $10.5 billion in discretionary and advisory capital to diverse funds over the two years prior to that date, with a diverse manager being one where there is 25% or more diversity in at least two of the following four categories:

ownership level, carried interest, investment committee or investment team.

We have voluntarily offset our emissions for calendar years 2019 – 2023 and received carbon neutral certifications for calendar years 2021 – 2023.

Through this calculation and offsetting exercise, we have sought to understand and align operational decisions with the total costs.

For more information on our investment approach to sustainability and responsible investing, see “—Investment Process and Monitoring.”

For more information on our human capital approach, see “—Employees.”

Corporate Social Responsibility

Hamilton Lane’s approach to CSR prioritizes volunteerism and engagement in the communities in which we operate through the themes of financial inclusion, climate matters, and community development.

These opportunities are overseen by our CSR committee with support from the Belong@HamiltonLane Council and Director of Sustainability.

As described under “Employees,” each employee receives volunteer time off to participate in CSR events and engagements of their choosing.

It is optional, but encouraged, for employees to participate in these events given the multi-faceted benefits that we believe can be derived from community engagement alongside building relationships with colleagues.

We also believe that the employee engagement activities of our ERGs and broader Belong@HamiltonLane initiatives are additive to our CSR volunteerism activities, building further engagement both internally and externally.

Available Information

Our website is located at www.hamiltonlane.com, and the Shareholders page of our website is located at http://ir.hamiltonlane.com.

Our website is located at www.hamiltonlane.com, and the Shareholders page of our website is located at https://shareholders.hamiltonlane.com.

We are subject to the informational requirements of the Exchange Act and file or furnish reports, proxy statements and other information with the SEC.

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Item 1. Business