ASX-listed HMC Capital, the fast-growing fund manager led by David Di Pilla and formerly known as HomeCo, has roped together a $1.2 billion deal to acquire 11 private hospitals, operated by Healthscope and held by a New York-listed property trust.

The hospitals deal is one of the most significant yet for HMC, which started out as private platform Home Consortium backed by Mr Di Pilla and a group of Rich Listers to take control of the Masters retail portfolio seven years ago.