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Elanor Investors eyes 'reset' after Lederer Group 'disruption'

The troubled fund manager feels it is fait accompli on losing its listed commercial property fund to family office the Lederer Group.

Jassmyn Goh
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Elanor will look to invest in other offices following the loss of its commercial property fund. Shutterstock/Vivid Brands.

Elanor Investors Group managing director Tony Fehon has admitted the troubled investment manager is disappointed it lost control of its commercial property fund following a bitter fight with billionaire Paul Lederer, but says the end of that saga means it now has a clear path to stability in 2026.

Late December, Elanor, which oversees $2.8 billion, agreed to relinquish the management of the $495.3 million ASX-listed Elanor Commercial Property Fund (ECF) to Lederer Group following a lengthy public battle.

“We didn’t agree… they have sufficient shares or units in ECF now to effect change in the trustee and whilst our trustee recommended that people don’t vote in favour of it, we recognise that the Lederer Group had acquired sufficient [shares] to effect that change,” Fehon told Capital Brief.

“And as a result of that, we're entitled to terminate our IMA [investment management agreement] and PMA [property management agreement], and so all we've done is actually agreed with them that if they get their trustee changed, then we'll terminate.”