Elanor Investors Group acquires Challengers Australian real estate funds management

Elanor Investors Group (ASX: ENN) has agreed to acquire Challenger's Australian real estate funds management business for a maximum consideration of AU$ 41.8 billion. The acquisition will increase Elanor's assets under management from AU$ 3 billion to AU$ 6.4 billion.

In addition, Elanor and Challenger will form a strategic partnership that makes Elanor Challenger’s real estate funds management partner in Australia and New Zealand, while Fidante, Challenger’s multi-affiliate funds management business, will exclusively distribute Elanor’s real estate managed funds. The transaction is expected to complete on 30 June 2023, subject to certain conditions, including ENN security holder approval and other regulatory approvals.

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