Elanor Investors Group is raising cash to buy a stake in Bell...

Elanor Investors Group is raising cash to buy a stake in Bell City Funds

about 5 hours ago | 10:08am | Maggie Lu Yueyang and Gretchen Friemann
Elanor Investors Group, the vehicle spun out of boutique investment bank, Moss Capital, is raising $12.4 million in an institutional placement to fund an acquisition of a 17 per cent stake in Bell City Funds.
The offer, fully underwritten and executed by Moelis, will sell 9.12 million new securities at a fixed price of $1.38 per share.
Elanor also plans to offer a non-underwritten security purchase plan to raise up to $1m.
Proceeds of the offer will be used to make a $12m co-investment into the Bell City Funds, in which Elanor will obtain a 17 per cent stake.
Former Macquarie banker, Bill Moss, separately listed Elanor earlier this year.
The company is headed by Moss Capital chief executive and former Lehman Brothers, head Glenn Willis.

http://businessnow.theaustralian.co...ising-cash-to-buy-a-stake-in-bell-city-funds/

http://www.asianpacificgroup.com.au/bell-city.htm

Assume this is part of a transaction whereby ENN takes the management rights, will potentiall increase FUM by approx $90m