David Di Pilla’s HMC Capital picked up an 11.1 per cent stake in ASX-listed pharmacies chain Sigma Healthcare last week, and Street Talk hears it’s HMC’s maiden investment for a $500 million new fund.
David Di Pilla’s HMC Capital will launch its freshly minted private equity-stye fund with an 11.1 per cent stake in unloved pharmacy wholesaler Sigma Healthcare.HMC Capital has tapped a big broker syndicate to try to raise $500 million for its new fund, dubbed HMC Capital Partners 1, and will use its Sigma investment to demonstrate exactly what it’s trying to achieve.
Sigma Healthcare is likely to feature prominently in the pitch. Sigma’s not recovered from a share price slump four years ago, when it lost a contract to rival EBOS, even though it has invested heavily in its distribution network and is arguably a takeover target post the acquisition of long-time rival Australian Pharmaceutical Industries.
It will scout unlisted and listed investments, according to documents seen by Street Talk, but the strategy was expected to veer towards taking smaller stakes instead of all-in buyouts. The fund would be open-ended.Home Consortium’s $725 million odd acquisition of the Masters property portfolio
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EQT out of iNova, Bain Capital taps adviserBain Capital’s understood to have tapped Goldman Sachs for help with advice and funding.
Read more »
Wilsons taps ex-MacCap star Prendiville as chairmanResources banker turned private investor John Prendiville is expected to take an equity stake in stockbroker and wealth manager Wilsons, after joining the company’s board as chairman.
Read more »
Wilsons taps ex-MacCap star Prendiville as chairmanResources banker turned private investor John Prendiville is expected to take an equity stake in stockbroker and wealth manager Wilsons, after joining the company’s board as chairman.
Read more »
Slower property market curbs PEXA as Link deal rejig loomsThe value of Link’s 43pc stake in electronic conveyancer PEXA, its most prized asset, has fallen substantially since January.
Read more »
Rat of Tobruk Sydney Kinsman dedicated his life to outback capitalA World War II veteran who was shot and survived the Siege of Tobruk before escaping a prisoner of war camp managed live until he was 100 and make a huge impact on the community he loved.
Read more »
Queensland Health alters employee’s job after preventive health funding cutsThe department told a psychologist it had decided not employ her on a full-time basis because of a “reduction in funding for the 2022-23 financial year”, but a commission has ruled there was no link between the woman’s role and the money.
Read more »