An Asian-based institution has partnered with Elanor Investors to recapitalise a A$289m (€186m) Australian core healthcare fund.

Elanor declined to comment on the identity of the investor, but it is reported to be Permodalan Nasional Berhad (PNB), the Malaysia government-owned entity.

Elanor said the capital injection provided a full liquidity event for the investors in Elanor Healthcare Real Estate Fund.

The company said the partnership established a new core mandate to invest in Australian healthcare real estate asset. It would focus on growing the fund and bringing new institutional investors into the fund.

Elanor Investors’ co-head David Burgess said: “This is an excellent investment outcome for the fund’s wholesale investors – a direct result of our clear investment strategy for the fund.”

Glenn Willis, Elanor Investors’ chief executive, said the healthcare real estate sector continued to present compelling investment opportunities for the firm’s capital partners.

Elanor established the healthcare fund in March 2020 to provide wholesale investors with access to the healthcare market.

The fund was seeded with a portfolio of A$123m and has since grown the portfolio of six properties, valued at A$289m.

To read the latest edition of the latest IPE Real Assets magazine click here.