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Fund manager announces IPO

Fund manager announces IPO

Steven Glanz

A global firm has advised an investment and funds management business on launching its initial public offering and listing on the ASX.

Firm: Baker & McKenzie (Elanor Retail Property Fund)

Deal: Elanor Investors Group has been advised on the establishment, initial public offering and ASX-listing of the Elanor Retail Property Fund (ASX: ERF).

Value: Approx. $174 million

Area: IPO

Key players: The legal team advising Elanor Investors Group was led by Australian M&A head Steven Glanz (pictured), with assistance from partners Lauren Magraith and Lewis Apostolou, senior consultant Peter McMahon, senior associate Hoda Nahlous, associates Ivo Basoski, Jessie Bodor and Janet Cho, and junior associate Joseph Bates.

Deal significance: Elanor Investors Group is an investment and funds management business focused on generating strong absolute and risk-adjusted returns through investment in assets and operating businesses that deliver sustainable cash flows with potential for capital growth; and management of third-party owned investment funds and syndicates.

The Elanor Retail Property Fund has been created through the stapling of two existing wholesale property funds that were managed by Elanor Investors Group, and the acquisition of two new properties.

The fund raised approximately $110 million under the IPO and will have a market capitalisation on listing of approximately $174 million. The fund will invest predominantly in retail shopping centre assets.

Baker & McKenzie previously advised Elanor Investors Group on its initial public offering and ASX-listing in 2014, and a $33 million institutional placement and share purchase plan earlier this year.


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