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Payton Capital acquired by ASX-listed alternatives manager

Yasmine Masi27 May 2024

Australian Securities Exchange (ASX)-listed alternative asset fund manager, HMC Capital, has acquired real estate private debt manager, Payton Capital.

Announced last week, Payton Capital said the transaction speaks to the strong growth of private commercial real estate (CRE) debt in Australia, which according to Payton is set to grow from around $74 billion to $144 billion in the next five years.

“I am excited about the possibilities that lie ahead for the Payton business. While our primary focus remains on delivering certainty and value for borrowers and investors, this development will enable us to extend our product range and to grow our influence in the Australian Private Credit market,” David Payton, Payton Capital CEO, said.

“This acquisition not only strengthens our financial position and provides access to a strong balance sheet with associated institutional capital, but it will also empower us to compete in a maturing market and to deliver our future growth aspirations.”

HMC Capital also said private credit was a major part of its business strategy’s next steps, with the transaction boosting their capabilities in the space.

“HMC Capital expects to build a $5 billion Private Credit platform over the medium term. We like the DNA that Payton has and together intend to build on that strong foundation to achieve great success in the future,” CEO of HMC Capital, David Di Pilla, said.

Payton Capital are also patrons of the Payton Foundation, which is also involved in the acquisition and is a key focus of HMC Capital to continue and expand on its giving to vulnerable people.

“I am so proud that our decision to align with HMC Capital will enable us to solidify the legacy of the Payton Foundation. By joining forces with HMC Capital, we are ensuring the continued growth and longevity of the Foundation’s mission and impact to vulnerable people in Australia and overseas. A heartfelt thank you to everyone who has been part of this journey,” Payton said.

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