HMC Capital, led by David Di Pilla, has announced an increase in its assets under management (AUM), expressing confidence in the company’s outlook despite a significant decline in its share price. HMC Capital is an alternative asset manager. The company specialises in identifying, creating, and managing assets to deliver risk-adjusted returns for investors.
According to its half-year results, HMC reported AUM of $19.5 billion, a 4 per cent increase since June 2025. The company also reported first-half fiscal year 2026 pre-tax operating earnings per share of 10.1 cents. HMC’s net tangible assets and undrawn debt stood at $1.6 billion, and the group declared a 6 cents per share interim dividend, partially franked.
This announcement comes after a challenging period for HMC shares, which have fallen nearly 70 per cent over the past year. Listed vehicles associated with HMC have also experienced difficulties, with DigiCo down 54 per cent and HealthCo Healthcare and Wellness REIT declining 30 per cent over the same period. Di Pilla acknowledged the market’s reaction but highlighted the improving quality of underlying earnings.
Di Pilla stated that the company has made considerable progress across its core platforms, with a substantial increase in recurring funds management income driven by higher fee-generating AUM. He noted that the results were impacted by reduced contributions from non-recurring performance fees and principal investment income, due to unfavourable market movements. Earlier this month, HMC secured a $603 million commitment from KKR to advance its energy transition pipeline.
