• AUM grew 47% to $18.7bn, with new funds across real estate, private equity, digital infrastructure and energy transition
• HMCCP Fund I delivered 43.6% net return in FY25, outperforming ASX300 by 18.3% p.a. since inception
• Acquisition of Neoen's Victorian portfolio for $950m, with independent valuation of ~$1.3bn

HMC Capital reported a strong set of FY25 results, with operating EPS (pre-tax) of 56.0cps, up 51% on the prior year. Assets Under Management grew 47% to $18.7bn, driven by the establishment of 3 new funds management divisions - Real Estate, Last Mile Logistics, and two new daily needs funds (HARP & HUG). The company's private equity fund, HMCCP Fund I, delivered a 43.6% net return in FY25, generating a $25m performance fee for HMC. The fund has delivered a 29.6% annualised return since inception, outperforming the ASX300 by 18.3% p.a. HMC also announced the acquisition of Neoen's Victorian portfolio for $950m, which has been independently valued at ~$1.3bn, indicating a 35% uplift versus the purchase price. The company is working to introduce third party capital into the Energy Transition platform to fund further growth. Across the other divisions, HMC continued to make progress, with the Digital Infrastructure platform establishing the $4.6bn DigiCo Infrastructure REIT, and the Private Credit business experiencing 21% AUM growth in FY25.

HMC Capital is targeting AUM of $50bn+ over the next 3-5 years, underpinned by a significantly more diversified business with multiple growth drivers and a strong balance sheet.

HMC Capital is focused on operationalizing its platform for sustainable future growth, with key initiatives across its Real Estate, Private Equity, Digital Infrastructure, Energy Transition and Private Credit divisions. The company remains well-positioned to capitalize on attractive investment opportunities and drive further AUM and earnings growth.