HMC Capital adds to board

HMC Capital has added to its board with a new appointment who brings more than 36 years' experience across financial, M&A and corporate governance.

HMC Capital has announced Graeme Browning to the board as an independent non-executive director, effective immediately.

HMC said Browning has more than 36 years' experience across financial, mergers and acquisitions, corporate governance and senior executive leadership.

Browning held various roles at Earnst & Young (EY) since 2009 across Australia and the UK, with the most recent being partner.

Over his tenure he advised on more than 20 public offerings and secondary capital raisings.

"We are pleased to welcome Graeme to the HMC Capital board. Graeme is a highly credentialed leader who brings extensive experience across transactions, capital markets, financial and governance, complementing this existing skills and experience of the board," HMC Capital chair Chris Saxon said.

"We look forward to his contribution as HMC continues to execute on its growth strategy."

In June this year HMC Capital won two global institutional mandates of $1.35 billion for its private credit strategy in Australian commercial real estate (CRE) lending.

The ASX-listed alternatives asset manager said it had already received $375 million of seed assets, at the time of the announcement.

On full deployment, HMC's private credit strategy's assets under management is expected to rise to $3.3 billion and will provide dry powder of $1 billion for investment in FY27, it said.

HMC also partnered with global private equity firm KKR to receive $603 million for the HMC Energy Transition Platform. The partnership received a good to go by the Australian Competition and Consumer Commission (ACCC) in June.

The commitment will last seven years and is expected to generate a 14% annual return. It will be split via a preferred equity investment in HMC's Energy Transition Platform comprising an initial $355 million tranche at financial close.