HPC Capital

The firm is led by founders Michael Pirgmann, based in Hamburg, and Patrice Cavalier, who anchors the French operations. François Sabatino serves as a partner with responsibility for portfolio company oversight, including the Eclairion vehicle. HPC Capital has not publicly disclosed a separate investment committee or external advisory board.

HPC Capital's deal flow appears to originate through the founders' long-standing Franco-German networks. The luxury-hotel and high-end residential projects in France suggest relationships with local developers and municipal planning authorities, while the US life-insurance and commercial-mortgage portfolios point to specialized brokers or secondary-market intermediaries. No formal sourcing program has been described publicly.

HPC Capital is registered as an investment company and does not publicly market pooled funds. Its structure — direct ownership of hotels, development projects, life-settlement portfolios, and mortgage debt — is consistent with a proprietary or single-family capital base, but the firm has not confirmed its funding sources.

The firm's known investments concentrate in two corridors: France, where it owns and develops hospitality and residential real estate, and the United States, where it holds secondary-market life insurance policies and commercial mortgage debt. Its French projects span Paris, Megève, Saint-Barth, Deauville, Chantilly and Saint-Tropez.

HPC Capital operates as a generalist, allocating across real estate equity, hospitality operations, private credit, and specialty finance. Its portfolio mixes hard assets — two operating hotels, a student-housing development, luxury residential projects — with financial instruments including US life settlements and commercial mortgages.