1993 1995 1997 2000 2002 HMC is incorporated U.S. REAL ESTATE INFRASTRUCTURE CREDIT SOLUTIONS EUROPEAN REAL ESTATE GROWTH EQUITY 2003 OUR STORY EARLY INVESTMENTS HMC closed its first real estate fund on June 23, 1995 with $50 million of capital and just three limited partners: U.S. West Pension Trust, Eli Lilly Pension Trust and Harbert Corporation. Two years later, the firm closed its second investment vehicle: Harbert Independent Power Fund, with $76 million of capital represented by eight limited partners. What he lacked in experience during the early days, Harbert made up for in hard work, say current and former colleagues. With the addition of new strategies and funds, the firm enjoyed significant growth in the early 2000s. HMC held final closes for initial funds in Credit Solutions in 2000, European Real Estate in 2003, and Growth Equity in 2004 — while also launching a number of varied hedge funds. GROWTH AND SUCCESS HMC’s post-recession growth accelerated notably in 2013 with the addition of European Growth Capital, followed shortly thereafter by the 2014 launch of the Discovery Fund — a hedge fund investing in microcap stocks. In 2015, the firm launched its Seniors Housing strategy. Since January 1, 2013, HMC’s Regulatory Assets Under Management have nearly tripled — from $2.2 billion to $6.4 billion (as of December 31, 2018). “It’s fair to say,” Harbert continues, “that my stated desire 40 years ago — ‘to be a banker’ — has been realized. I love the investment process. The underwriting. The application of proper disciplines. And yes, the returns — both financial and experiential — that we enjoy when we do it well. “The same is true for all of our firm’s investment professionals. Each individual here chose his or her own asset class. It wasn’t assigned to them. Which is why they’re so passionate about what they do, and how they do it. I honestly believe it takes that kind of commitment to deliver the returns we all want and expect. “We’ve certainly seen our share of challenging times and experiences. But on the whole, I feel very blessed, and very optimistic. My father’s wordsstillringtruetoday:Ourstrulyisastoryofcontinuousbeginnings.” 8 1993 1995 1997 2000 2002 HMC is incorporated U.S. REAL ESTATE INFRASTRUCTURE CREDIT SOLUTIONS EUROPEAN REAL ESTATE GROWTH EQUITY 2003 Since January 1, 2013, HMC’s Regulatory Assets Under Management have nearly tripled — from $2.2 billion to $6.4 billion (as of December 31, 2018).