Elanor Investors Group (ASX:ENN) said its stapled securities held by Fidante Partners, a wholly-owned subsidiary of Challenger (ASX:CGF), will be clawed back as part of its unwinding of a strategic partnership and related investment management arrangements with Challenger and Challenger Life, according to a Friday Australian bourse filing.

Elanor Funds Management, as the responsible entity of Elanor Investment Fund, will undertake a selective buy-back of 12,377,083 units in the fund held by Fidante, while Elanor Investors will undertake a selective reduction in respect of 12,377,083 shares in its capital held by Fidante.

The investment management arrangements are set to terminate on Oct. 15 in accordance with the unwinding arrangements agreed between the parties. Elanor expects to complete the clawback on or around Oct. 16.

Fidante currently holds 20,280,481 Elanor stapled securities, which represent around 13.3% of Elanor's stapled securities on issue. Following the completion of the clawback, Fidante's holding in Elanor's stapled securities will reduce to 7,903,398 or around 5.7% of the firm's stapled securities on issue. Elanor plans to claw back these remaining securities as part of a subsequent transaction, subject to shareholder and regulatory green light.