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The Dubai-based classifieds platform Property Finder is raising $250 million in debt financing from the US-based alternative investment firm Ares Management to fund its growth in the region.
The capital commitment from Ares Credit funds will be deployed through investments in product innovation, AI, marketing and branding and new partnerships.
London-based Axis Arbor Partners acted as the debt advisor to Property Finder on the transaction.
In September, Permira and Blackstone Inc acquired a $525 million minority stake in the classifieds firm following a partial stake sale by General Atlantic, an early backer of Property Finder since 2018.
Last year, American private equity firm Francisco Partners provided $90 million in debt financing to Property Finder to help the company buy out institutional investor, BECO Capital.
(Writing by Bindu Rai, editing by Seban Scaria)
