• Hamilton Lane average return on tangible equity for 2023 was 19.1, a 33.1% increase from 2022.
• Hamilton Lane average return on tangible equity for 2022 was 28.55, a 31.27% decline from 2021.
• Hamilton Lane average return on tangible equity for 2021 was 41.54, a 54.54% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.