HM Capital hires Investcorp fundraiser

Sarah Bradley will work on raising HM Capital's next fund and boosting the firm's transparency and communications with LPs.

HM Capital Partners, formerly known as Hicks, Muse, Tate & Furst, has hired Sarah Bradley, a former Investcorp investor relations executive, to help raise the firm's next fund, that will focus exclusively on food and consumer products.

Bradley has an “exceptional reputation in the institutional investor community”, according to a statement from the firm, “having previously built a best-in-class fundraising and investor relations function that is recognised for its transparency, comprehensive communications and detailed reporting”.

HM Capital will make a strong effort to boost its communications and reporting with limited partners, even though the firm already does a good job keeping investors informed, Bradley told Private Equity International.

“Nothing is more important than being highly transparent with your investors,” Bradley said. “One of the things I did at Investcorp was make sure we were completely [Institutional Limited Partners Association] compliant with transparency and reporting.”

Nothing is more important than being highly transparent with your investors.

Sarah Bradley

HM boosted its deal team earlier this year by hiring Robert Sperry, who had worked with the firm for seven years as an operating partner focused on food and consumer products. Sperry had worked as a partner with Brynwood Partners. HM Capital’s senior investment team also includes John Muse, Andrew Rosen, Jason Downie and Edward Herring.

Bradley replaces Chuck Bauer, who left last year and joined energy firm EnCap Investments as co-head of investor relations and fundraising.

Bradley joined Investcorp in 2008, prior to which she was managing director at Deutsche Bank, where she was responsible for food and consumer investment banking and mid-market sponsor coverage. She also worked as a director in the global consumer group at Citi.

HM Capital closed its most recent fund, its Sector Performance Fund, in 2008 on $780 million. The fund’s strategy included mid-market energy, food and media investments. One of the firm’s founders, Tom Hicks, left in 2004 after the original incarnation, Hicks, Muse, Tate & Furst, suffered several investment setbacks in the market downturn in the early 2000s.

The firm has decided to narrow its investment focus for its next fund, dropping the media and energy strategies. Bradley declined to comment about when the next fund will launch or its target.

The fundraising around the Sector Performance Fund became caught up in a New York State Attorney General investigation that revealed the firm had paid political operative Henry Morris fees in exchange for a commitment from the state’s public pension fund. As a result of the investigation, HM Capital agreed to pay $1.5 million to New York State, representing a “refund of fees”, according to the Attorney General agreement.