Element Fleet Management and Blackstone Form Strategic Funding Relationship
02/27/25, 12:09 PM
Location
Money
$500 million
Industry
fleet management
automotive
Type
partnership
Element Fleet Management Corp. and funds managed by Blackstone Credit & Insurance have announced the establishment of a strategic funding relationship involving a portfolio of Canadian fleet lease receivables valued at approximately CAD $500 million. Through this arrangement, Element benefits from substantial off-balance sheet treatment, diversifying and optimizing its funding profile while validating the high quality of its asset origination platform and supporting the company’s continued growth.
Company Info
Location
toronto, ontario, canada
Additional Info
Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of loyal, world-class clients – corporates, governments and not-for-profits – across North America, Australia and New Zealand. Element’s services address every aspect of clients’ fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing, to integrating EVs and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as the largest fleet solutions provider in its markets, offering unmatched economies of scale and insight used to reduce fleet operating costs and improve productivity and performance.