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Highlights
HMC Capital announces a $300 million interim FY25 distribution from HMCCP Fund I, with $150 million allocated to HMC itself.
HMCCP Fund I delivered over 55% net returns in CY24, making it Australia’s top-performing equity fund as per Morningstar rankings.
Launch of HMCCP Fund II, targeting strategic investment opportunities in both listed and unlisted markets.
HMC Capital Limited (ASX:HMC) has announced a $300 million interim FY25 distribution from HMC Capital Partners Fund I (HMCCP Fund I). As the largest investor in the fund, HMC Capital itself will receive approximately $150 million.
The distribution reflects significant investment gains from Sigma Healthcare and Ingenia Communities, which contributed to HMCCP Fund I's exceptional performance. The fund achieved net returns exceeding 55% in CY24, securing its position as the top-performing Australian equity fund, according to Morningstar rankings.
Expansion with HMCCP Fund II
Building on the success of its first fund, HMC Capital has launched HMCCP Fund II, a closed-end private equity fund that will focus on high-conviction investments in both listed and unlisted markets.
The new fund aims to capitalise on corporate merger and acquisition opportunities, with Healthscope identified as a potential target. HMC Capital plans to use its expertise to drive value creation and maximize returns for investors.
Financial Performance and Outlook
HMC Capital has reaffirmed its FY25 annualized operating EPS (pre-tax) of 70 cents, noting that the HMCCP Fund I distribution will not impact earnings.
Additionally, the company maintained its dividend per share (DPS) guidance of 12.0 cents, reflecting confidence in its profitability and cash flow stability.
Following the distribution, HMC Capital expects to have no drawn debt and will retain $675 million in committed and undrawn funding lines. This financial flexibility will support the company’s expansion plans, including the establishment of its inaugural Energy Transition Fund, aimed at investing in sustainable energy opportunities.
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