HMC Capital has revealed a position in Graincorp, marking the group’s fourth public bet from the highly concentrated Capital Partners Fund.
HMC Capital –– disclosed a 5 per cent holding in Graincorp shortly after the market closed on Friday. That stake is valued at around $90 million.
HMC’s position in Graincorp marks the fourth publicly disclosed position in the Capital Partners Fund alongside Sigma Healthcare, Ingenia Communities and Lendlease. “It’s one of those good companies that has lost its way and that’s reflected in the share price,” Hardie says.‘Tools in the toolkit’ “I guess that speaks for itself – we continue to have very high conviction in that investment,” she says.
“I think there is a misconception that the fund is a real estate play in the background of HMC – but it is sector agnostic,” she says.Targeting between 8 and 10 stocks, once it is in full-swing, Ms Hardie appears cautious not to rush into new positions.“With a highly concentrated strategy, there’s nowhere to hide so we need to have as much information and research done before we go in because we can’t really get it wrong.
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