We're a Baker Tilly network member
Learn more

Payton Capital acquired by HMC Capital in $144m deal

Payton Capital, the Melbourne-based private credit fund management firm, has been acquired by HMC Capital in a $144 million cash and scrip transaction.

HMC Capital, an ASX-listed alternative asset manager, will acquire 100% of Payton Capital in a deal that includes $127.5m paid upfront and an additional $16.5m payable in 12 months, conditional on loan book warranties and FY24 benchmarks being met or exceeded.

The transaction will significantly enhance Payton’s market profile and reflects the strong growth of private commercial real estate debt in Australia.

Payton Capital was advised by Pitcher Partners Melbourne, with law firm Addisons acting as legal advisors in the transaction.

James Beaumont, Partner at Pitcher Partners Melbourne, said this was an excellent outcome for Payton Capital, positioning the business for its next phase of growth.

“This is an important milestone for the business and Pitcher Partners congratulates David Payton, Kelly Jarrett and the rest of the Payton team,” Mr Beaumont said.

“In addition to the benefits for the business, we have great pride in knowing that the Payton Foundation, which has a 20% stake in Payton Capital, will emerge stronger in its mission to support vulnerable people in Australia and overseas with their health, housing and education needs.

“Payton Capital is a terrific business and we wish their management team great success in their future.”

David Payton, Payton Capital CEO, said that with the strength of HMC’s balance sheet, the acquisition ensures a great future for all its stakeholders.

“Thanks to our trusted advisers, who fought hard to secure this deal, this transaction provides a high degree of certainty to shareholders and was achieved on fair and equitable terms for all,” Mr Payton said.

“We are very pleased with the outcome.”

Pitcher Partners insights

Get the latest Pitcher Partners updates direct to your inbox

Thank you for you interest

How can we help you?

Business or personal advice
General information
Career information
Media enquiries
Contact expert
Become a member
Specialist query
Please provide as much detail to ensure appropriate allocation of your query
Please highlight a realistic time frame that will enable us to provide advice within a suitable and timely manner. Please note given conflicting demands with our senior personnel, we will endeavour to respond to you within the nominated time frame. If you require an urgent response, please contact us on 03 8610 5477.
CPN Enquiry
Business Radar 2024
Federal Budget 2024-25
Student careers 2024-25
Search by industry