Fund Company Update

Challenger offloading real estate business

Challenger is selling its Australian real estate business CRE to Elanor Investors Group for $42 million, with the pair entering a partnership. Challenger will become Elanor’s largest shareholder with an 18 per cent stake. A strategic partnership has been established where Fidante will exclusively distribute Elanor’s existing and new funds, while Elanor is to be Challenger’s commercial real estate partner across Australia and New Zealand.