# HPC Capital

HPC Capital is an Asset Manager based in Hamburg, Germany.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Hamburg, Germany
- **Region:** Europe
- **Address:** Hamburg, Germany
- **Founded:** 2002
- **Assets under management:** Undisclosed
- **Website:** www.hpc-capital.de

## Regulatory record

- **Reports private funds:** No

## About

An independent emissions house based in Hamburg, HPC Capital specializes in the conception of asset investments for private and institutional investors. It has launched six funds since 2002 and manages around $230 million in nominal equity. It offers investments in US secondary market life insurance policies, US mortgage loans, and infrastructure.

## Sectors

- Real Estate
- Hospitality
- Private Credit
- Secondaries & Special Situations

## People

- Michael Pirgmann — Managing Director and Founder
- Patrice Cavalier — Founder, French operations
- François Sabatino — Partner
- Arnaud Lépinois — CEO, Eclairion (portfolio company)

## Questions

### Who runs investment decisions at 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.

### What geographic markets does HPC Capital target?

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.

### Is HPC Capital active across asset classes or specialized?

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.

## Related profiles

- [H+ Partners](https://altss.com/profile/h-partners)
- [HPEF Capital Partners](https://altss.com/profile/hpef-capital-partners)

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Last updated: 2026-07-11T16:25:59.000Z

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