Corrects paragraph 7 to remove reference to the stake owned by HMC and Di Pilla

May 6 (Reuters) - Shares in Australia's HMC Capital HMC.AX sank 8% on Tuesday, the most on the country's benchmark stock index, after the funds manager lowered its annual earnings forecast due to the drop in the value of assets in its flagship private equity fund.

The David Di Pilla-run investment manager currently expects fiscal 2025 operating earnings per security to be 66 Australian cents apiece, down from 70 cents expected last month.

HMC's shares fell 7.9% to A$4.76 and were set for their biggest single-day drop since April 11.

While the investment group remains committed to its ambitious A$50 billion ($32.27 billion) funds under management goal, its business model has faced mounting pressure since the disappointing debut of its data centre float last December.

HMC attributed the earnings downgrade to fluctuations in the value of stocks held by the HMC Capital Partners Fund and other financial assets last month.

The fund holds a 4% stake in real estate and construction company Lendlease LLC.AX, which plunged nearly 11% in April due to a potential hit stemming a land dispute and fears of the effect of U.S. tariffs on the real estate sector.

Healthco Healthcare Wellness REIT HCW.AX -- which is owned by HMC, according to the company -- fell about 5% in April.

HMC has invested A$170 million into the fund since it was launched in July 2022. It said it had a strong balance sheet with A$675 million in committed funding lines. ($1 = 1.5494 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Savio D'Souza)

((Rishav.Chatterjee@thomsonreuters.com;))