Elanor Investors Group (“ENN” or “Elanor”) is pleased to announce the establishment of a new managed fund, the Elanor Wildlife Park Fund (“Fund”). The Fund will be managed by ENN and seeded with:
• Featherdale Wildlife Park, located in Western Sydney and managed by ENN since 2013
• Mogo Zoo, located in Batemans Bay on the NSW South Coast
The Fund will be established with an initial value of $49 million, with two iconic Australian wildlife parks, each with strong real estate backing, high brand awareness and a long history of profitability.
The Australian tourism and leisure industry continues to experience strong growth and is presenting high quality investment opportunities. The Fund will pursue the acquisition of further high investment quality assets in the Australian private wildlife park and zoo sector.
The Fund's strategy is to leverage Elanor's highly experienced tourism and leisure capability to create significant additional revenue streams and drive cost efficiencies across a growing portfolio. Furthermore, Elanor's wildlife park and funds management teams will pursue a number of value add strategic opportunities that exist within the Fund's assets.
ENN CEO, Glenn Willis, said: “With the acquisition of the Mogo Zoo, we are pleased to be acquiring an iconic tourism and leisure asset with significant growth potential. We look forward to applying our asset management approach to Mogo Zoo initially, and as the fund grows, to additional wildlife parks across Australia, to deliver strong returns for both our capital partners and our shareholders.”
ENN will co-invest approximately 20% of the Fund alongside domestic institutional and private capital partners.
Featherdale Wildlife Park will be divested by ENN to seed the Fund, with the net sale proceeds received by ENN to be applied to drive growth in funds under management and other capital management initiatives.
The Fund is expected to be launched in mid November 2019.
ENDS.