HMC Capital targets $50bn AUM in 3 years
Alternative asset manager HMC Capital has set an ambitious growth target of 42 per cent per annum over the next three years to reach $50 billion in assets under management.
At the firm’s annual general meeting (AGM) on 27 November, the asset manager said it is on track to achieve $20 billion in AUM in FY25 across its five divisions of real estate, private equity, private credit, energy transition and digital infrastructure.
As a result, it has upped its target to the “much more ambitious growth” of 23 per cent per annum over five years and 42 per cent per annum over three years. This will help it achieve AUM of $50 billion over the next three to five years.
Chief executive and managing director, David Di Pilla, said: “We believe this target is highly achievable with each of the platforms exposed to high growth megatrends in sectors with deep and broad investment opportunities. Each of our platforms can be scaled to at least $10 billion each over the next five years.”
In the private credit division, it launched the private credit platform in July 2024 with the acquisition of Australian private credit manager Payton Capital. This is now fully integrated with HMC Capital’s risk management, legal and compliance and investment committee.
HMC has invested in additional fundraising and origination capability in NSW and Queensland where it believes the firm can grow its market share, as well as $500 million in fund facilities.
It has also established a corporate and asset-based private credit platform, and has appointed Adam Roberts-Thomson from Credit Suisse and Dane Weiss from Goldman Sachs as co-heads of corporate and asset finance.
Di Pilla said: “In FY25, we are aiming to double our AUM in private credit to over $3 billion. This will be underpinned by strong growth in Payton’s commercial real estate lending book and the commencement of corporate and asset-based lending activities.
“In addition, in the new year, we are targeting to launch a listed private credit fund which will provide exposure to a diversified portfolio of institutional grade loans across commercial real estate and corporate and asset-based private credit.
“We believe the scaleability of this opportunity is significant and are aiming to grow the listed fund beyond $1 billion over the medium term.”
AUTHOR
Laura Dew
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