The fund is managed by HMC Capital Limited, an ASX-listed alternative asset manager led by an experienced team with extensive private equity and capital allocation expertise. The management team includes David Di Pilla as Managing Director and Group CEO, Victoria Hardie as Group COO and Head of Private Equity, and Will McMicking as Group CFO. Notably, the fund's investment team is led by the same management team that successfully executed the leveraged buyout and turnaround of the former Masters portfolio from Woolworths in 2017. Since HMC Capital's ASX listing in October 2019, the company has achieved total shareholder returns of approximately 156%, representing 120% outperformance versus the S&P/ASX 200 Index. The company employs over 70 professionals supporting operations across various investment strategies and has grown total assets under management to $18.7 billion as of FY2025.

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HMC Capital Partners Fund I employs a distinctive investment approach that combines public market liquidity and volatility advantages with a private equity mindset through deep strategic and deal execution experience. The fund targets companies with significant real asset backing, providing downside protection and theoretically asymmetrical return profiles. The core philosophy centers on identifying public companies where there is potential to unlock 'trapped' value through improved capital allocation, operating and portfolio management. The fund maintains a concentrated portfolio of up to 10 positions with highly active engagement to realize value through changes in strategy, capital allocation, management, or M&A. Investment focus areas include Healthcare, Infrastructure, Telecommunications, and Clean Energy Transition sectors. The approach seeks to generate superior risk-adjusted returns targeting +15% Net IRR per annum over 3-5 years that are non-correlated to traditional equities and fixed income.

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