HMC Capital has secured up to $1.35 billion in new institutional private credit mandates from two global investors, marking a significant expansion of its Australian commercial real estate lending platform and increasing its capacity to fund larger transactions.
The alternative asset manager said the mandates had been established with approximately $375 million in seed assets at financial close, while the remaining capital is expected to be deployed during FY27.
The commitments follow the company’s earlier disclosure that it had more than $1 billion in private credit assets under advanced documentation.
Once fully deployed, HMC Capital expects assets under management across its private credit platform to reach approximately $3.3 billion, including a $250 million co-investment from the HMC Capital Private Credit Core Fund.
The expanded platform is also expected to provide around $1 billion in available capital for deployment during FY27.
The company said the additional institutional capital would support growth in fee-earning assets under management and recurring funds management earnings, while strengthening its ability to originate larger commercial real estate loans and increase market share.
Chief executive and managing director David Di Pilla said the mandates represent an important milestone in the firm’s strategy to scale its private credit business.
“Introducing institutional capital is a major step in building a larger and more diversified private credit platform that can capitalise on Australia’s growing CRE private credit market opportunity.”
“Today’s announcement reflects the significant investment we’ve made over the past two years to establish an institutional grade platform, with more than 70 investment professionals providing deep in-house capability and market leading governance.”
The institutional commitments come as private credit continues to attract growing interest from global investors seeking exposure to Australian commercial real estate debt markets.
HMC Capital said the mandates introduced long-term institutional funding to its platform, broadening available lending capacity while supporting future earnings through higher recurring management fees.
The ASX-listed alternative asset manager manages approximately $19 billion across real estate, private equity, energy transition, digital infrastructure and private credit strategies on behalf of institutional, high-net-worth and retail investors. It also said it maintains approximately $1 billion of balance sheet co-investments across its investment platforms to align its interests with investors.