HMC has appointed the former head of Macquarie’s US principal finance business in New York to run the new strategy.
David Di Pilla’s HMC Capital has kicked off its push into the private credit sector with a $127.5 million buyout of Melbourne’s Payton Capital.
“Ultimately, this comes down to the ability to do large complex transactions and to have the relationships to be able to get access to those transactions,” the former UBS dealmaker said. “If you look at the history of HMC, it’s been built on doing the largest, most complex transactions in Australia – so this is a natural fit for our skill set.”HMC is set to buy the fund manager – which manages about $1.5 billion in commercial real estate credit – in a mixed cash-scrip deal valued at $127.
Mr Di Pilla said he and Mr Lancaster had been working to get the deal over the line since Christmas. “I’ve known Matt from around the market for a long time – he’s one of the best operators,” Mr Di Pilla said. “There’s been a lot of work done on this deal and Matt rolled up his sleeves and got his hands dirty – he looks tired this morning.”
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