Dec 5 (Reuters) - Australian asset manager HMC Capital ( HMCLF )

said on Thursday it will buy France-based firm Neoen's

renewable energy generation and storage portfolio in

the state of Victoria for A$950 million ($611.61 million).

The portfolio, which comprises four operational assets with

a 652-megawatt (MW) capacity and six development assets with a

total capacity exceeding 2,800 MW, will add to its energy

transition platform, HMC said.

The deal increases HMC's assets under management (AUM)

to A$19 billion and is expected to be accretive to earnings post

FY26.

HMC, founded by banker-turned-investor David Di Pilla,

said fund raising for its energy transition platform is on track

for the first half of 2025, with a planned initial raise of up

to A$2 billion.

"We have received a significant level of interest from

domestic superannuation funds to be foundation investors in

HMC's Energy Transition platform," Di Pilla said.

Canada's Brookfield is currently in the process

of buying out Neoen in a 6.1 billion euro ($6.41 billion) deal.

"The divestment follows the undertakings made by

Brookfield to obtain regulatory approval from the Australian

Competition and Consumer Commission (ACCC) for the acquisition,"

Neoen said in a separate filing.

($1 = 1.5533 Australian dollars)

($1 = 0.9517 euros)