Regal Partners ‘very excited’ about Firmus; HMC Capital’s Di Pilla sells KKR deal
It was tale of two Australian alternative asset managers on the ASX on Tuesday, with Regal shares rising and HMC stock falling in the wake of their results.
Two of the country’s most closely watched diversified funds management businesses delivered results on Tuesday, and the response from the market to each was wildly different.
Regal shares were about 3% higher in midday trade after it posted a 65% jump in net profit after tax to $160.51 million and a 105% surge in performance fees to $172.59 million.
During its FY25 earnings call, Regal chief executive Brendan O’Connor told Capital Brief the company was “very excited” about its investment in AI factory Firmus, which has been the subject of intense market debate ahead of likely IPO in coming months.
“The Emerging Companies strategy holds an investment there. We’re hopeful that with IPO markets opening up, that [Firmus] can IPO later this year and we’re very excited for its prospects,” O’Connor said.
