11 stories mentioning ASX:HMCUpdated 17d ago
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HMC Capital (ASX:HMC) has an average rating of overweight and mean price target of AU$3.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
HMC Capital (ASX:HMC) reached financial close on its strategic partnership with funds managed by KKR for its energy platform, Illuma Energy, according to a Tuesday Australian bourse filing.KKR-managed funds will invest up to AU$603 million in the platform, including an initial AU$355 million investment completed at financial close and up to AU$248 million to support the development of the platform's first battery energy storage system project, the filing added.
HMC Capital (ASX:HMC) said it has secured new private credit mandates from two global institutional investors targeting the Australian commercial real estate lending market, according to a Monday Australian bourse filing.The mandates, previously reported as exceeding AU$1 billion in assets under management (AUM) under advanced documentation, are now established with AU$375 million in seed assets and a total funding capacity of up to AU$1.35 billion, per the filing.The company's private credit platform AUM is expected to increase to around AU$3.3 billion upon full deployment, including around AU$1 billion of deployable dry powder in fiscal year 2027, the filing said.The agreements bring long-term institutional capital to the platform, expanding origination capacity, growing fee-earning AUM, and strengthening recurring management income, the filing added.
Australian shares closed flat with a positive bias on Friday as investors reacted to a media report that OpenAI's initial public offering could be delayed.The S&P/ASX 200 Index was little changed to close at 8,764.20.Technology shares retreated after a sell-off in Apple shares after the technology giant disclosed price increases, as the prices of memory and storage chips rocketed, as well as a report that OpenAI is mulling a delay to its IPO until next year.Brent crude oil futures were trading around $73 per barrel. Meanwhile, gold steadied around $4,000 per ounce.On the domestic front, Westpac said there is around a one-in-four probability of an economic contraction in the June quarter in Australia, based on historical patterns and an estimated 10% chance of a negative quarter in the September quarter.The Westpac-Now indicator projected gross domestic product (GDP) growth of around 0.2% on a quarterly basis in the June quarter, with a range of 0.16% contraction to 0.4% growth.In company news, 4DMedical (ASX:4DX) secured Therapeutic Goods Administration (TGA) approval and inclusion on the Australian Register of Therapeutic Goods for its non-contrast ventilation-perfusion imaging software CT:VQ, enabling commercial use across Australia.HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30.Lastly, BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1. Basto is currently serving as the firm's chief operating officer.
HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30, according to a Friday Australian bourse filing.KKR-managed funds will invest up to AU$603 million in the platform, including AU$355 million at closing and a further AU$248 million to support development of its first battery energy storage system, per the filing.The company will also earn a AU$35 million establishment fee in fiscal year 2026, and its invested capital in the platform will fall to about AU$190 million upon completion, the filing said.The platform will be rebranded as Illuma Energy following the close of the transaction and the integration of StorEnergy with the Neoen Victorian portfolio, the filing added.
DigiCo Infrastructure REIT (ASX:DGT) received notice that HMC Capital (ASX:HMC) and its affiliates increased their holdings in the company to 21.15% from 19.64%, according to an Australian bourse filing on Thursday after market hours.HMC Capital and its affiliates now own over 117 million securities in the company, the filing said.
HMC Capital's (ASX:HMC) Moorabool battery energy storage system project has secured a Capacity Investment Scheme agreement, providing long-term revenue certainty, reducing project risk, and supporting financing ahead of a targeted final investment decision (FID), according to a Thursday Australian bourse filing.The 300 megawatt four-hour battery near Geelong in Victoria, located alongside the operational Victorian Big Battery, is part of an around 5.7 gigawatt development pipeline, with around 2 gigawatts expected to reach FID within 12 to 18 months, per the filing.
HMC Capital (ASX:HMC) may be undergoing a strategy reset from its target of reaching AU$50 billion in assets under management (AUM), primarily due to fundraising headwinds, Jefferies said in a note on Thursday.Jefferies lowered its forward EPS estimates by 1% to negative 21% due to weaker AUM growth.Although the alternative asset manager has not formally withdrawn its target, a lack of assuring track record under the HMC brand might be hindering new fundraising amid tough industry conditions, where capital is increasingly flowing toward mega-managers, it added.Jefferies said a revised growth plan would be the way forward, notably within the company's domestic portfolio of strategies, as it also undertakes measures to deliver AU$15 million in cost savings.The investment firm maintained its buy rating on HMC Capital but cut its price target to AU$3.40 from AU$4.15.
HMC Capital (ASX:HMC) said State Street and its units acquired a voting power of 5.18% in the firm as of Monday, becoming a substantial holder, according to a Wednesday Australian bourse filing.State Street holds 21.4 million ordinary securities of the firm.Its shares fell 3% in recent trading on Wednesday.
HMC Capital (ASX:HMC) reaffirmed its fiscal 2026 pre-tax operating earnings per share (EPS) target of more than AU$0.40 and funds management earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of AU$85 million, according to a Wednesday Australian bourse filing.The company reiterated its dividend guidance of AU$0.12 per share.The company said co-investment distributions of AU$32 million have been received from HomeCo Daily Needs REIT (ASX:HDN) and DigiCo Infrastructure REIT (ASX:DGT), with HCW not currently paying distributions. Investment income for fiscal 2026 is estimated at more than AU$53 million.From fiscal 2027, HMC said it will provide earnings guidance on an underlying basis to remove the uncertainty and volatility associated with fair value movements on its principal investments.The company's shares rose past 15% in recent Wednesday trade.
HMC Capital (ASX:HMC) received notice that JPMorgan Chase and its affiliates became a substantial holder of the company on April 24, according to a Wednesday filing with the Australian bourse.JPMorgan Chase now owns about 21 million shares in the company, representing 5.08% of the issued shares, the filing said.
