As the ACCC’s review into Chemist Warehouse’s backdoor listing Sigma Healthcare heats up, one of the deal’s key protagonists is taking some money off the table.
HMC Capital says it is selling for financial reasons. Sigma’s strong run meant its position had increased to more than 50 per cent of its HMC Capital Partners Fund 1, the fund that makes high-conviction bets and whose holdings include Sigma, Lendlease and Ingenia Communities. It was 19.07 per cent prior to the Chemist Warehouse deal, and it tipped in more money to retain that stake in an associated equity raising late last year.
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