Elanor adds REIT heft to board, as chair steps down

Elanor Investors Group, an ASX-listed real estate investment and funds manager, has announced it has nominated ex–LaSalle veteran Ian Mackie as its chair-designate, with current board head Paul Bedbrook set to retire at the end of this year.

With immediate effect, Mackie will step in as an independent non-executive director and chair-designate on the Elenor board. He will also serve on the company’s commercial property fund.

The firm noted that Mackie will work with Bedbrook and the board “over the coming months to facilitate a seamless transition”.

Currently lead independent director of Keppel REIT Management, a Singapore Stock Exchange-listed firm, Mackie has notched up more than 40 years’ experience in real estate investment and funds management in Asia Pacific.

He also currently serves as chair of Keppel’s nomination and remuneration committee and a member of its ESG committee.

Prior to joining Keppel, Mackie was international director and Asia Pacific head of strategic partnerships at LaSalle Investment Management Asia, serving in the role for nearly two decades after retiring in December 2018.

He was recognised for spearheading LaSalle’s expansion strategy in APAC in the late 1990s, supervising local teams as president of the company’s Asia private equity funds.

Mackie also served as chair of the Urban Land Institute Australia between 2019 and 2022.

Elanor managing director and chief executive Glenn Willis acknowledged the outgoing Bedbrook’s “significant contribution to the group” over his nine years as board chair.

“I look forward to working with Paul and Ian on the transition and maintaining our focus on achieving our significant growth objectives.”

Bedbrook added: “It has been rewarding and enjoyable to have chaired Elanor Investors Group since its ASX listing in 2014.

“[It’s] great to contribute and be part of a successful, up-and-coming property group, but now, after nine years, and with the recent transformational transaction with Challenger Group, the timing is right for succession of a new chair.”

Established in 2009, Elanor currently boasts $6.2 billion in funds under management across Australia and New Zealand, with key holdings in the commercial officer, healthcare, retail and hotels, tourism and leisure sectors.

In April this year, Elanor announced it would acquire 100% of Challenger’s $3.4 billion Australian real estate funds management business for $41.8 million, alongside a “broader strategic partnership” between the pair.