Humilis Investment Strategies

Humilis Investment Strategies

Michael W. Hufnagel founded Humilis Investment Strategies in 2015 after a career at The Carlyle Group and TPG, where he focused on structured credit and infrastructure. The firm operates from Washington, DC and targets private credit opportunities in North American middle-market energy transition, infrastructure, and real assets. Humilis positions itself where traditional bank financing has pulled back, providing senior secured loans, mezzanine debt, and structured equity to smaller-scale projects that fall below the ticket-size threshold of larger alternative managers. The firm writes senior secured loans, mezzanine financing, and structured equity into US middle-market energy transition assets — solar, battery storage, renewable natural gas — alongside real estate bridge lending and infrastructure. Hufnagel has described the strategy as filling a void left by regional banks that have scaled back project finance. Confirmed positions remain largely undisclosed given the private nature of the vehicle; the firm has indicated through public record that it originates directly rather than through intermediaries, targeting deals in the $5M to $30M range across the Lower 48. Humilis operates as a lean partnership; early Form ADV filings showed fewer than 10 employees, consistent with a concentrated, principal-led investment model. The firm has not publicly reported assets under management, nor does it appear to sponsor parallel philanthropic or operating-company vehicles. In recent years it has maintained a low public profile, sourcing through developer relationships and regional project sponsors rather than broad intermediary auctions. Unlike diversified asset gatherers, Humilis runs a single-sleeve credit strategy that links origination directly to structural underwriting — Hufnagel acts as both CIO and lead portfolio manager, a governance model typical of specialist credit boutiques. The firm's regulatory filings indicate it qualifies as an exempt reporting adviser, suggesting a concentrated LP base likely composed of family offices and high-net-worth individuals rather than institutional limited partners.