Shares in HMC Capital have fallen sharply, dropping more than 12 per cent, following the announcement of Angela Karl’s departure as the company’s head of energy transition. HMC Capital is an Australian-based alternative asset manager focused on real estate, private equity, and infrastructure investments. The company provides investment solutions to institutions, family offices, and high-net-worth individuals.
The announcement of Karl’s resignation has coincided with news of a delay in HMC Capital’s acquisition of Neoen’s Victorian renewable energy assets. The acquisition, which was previously expected to finalise shortly, has now been pushed back by one month. The reasons for the delay were not specified in the company’s announcement.
Neoen is a French renewable energy company that develops, finances, builds, and operates renewable energy power plants. It has a strong presence in Australia and is involved in several large-scale solar and wind energy projects.
The dual announcements have created uncertainty for investors, contributing to the significant decline in HMC Capital’s share price. Further details regarding both the leadership change and the acquisition delay are anticipated to be released in the coming weeks.
