Dubai’s real estate portal Property Finder has secured $90 million in debt financing to fund the buyout of its key investor, BECO Capital.

The debt financing was provided by Francisco Partners, which has a presence in the US and the UK.

The funds have been used to complete the buyback of the entire stake held by BECO Capital in Property Finder.

The real estate portal said the share buyback program sees BECO Capital “exiting with a strong return on its investment”.  J.P. Morgan and White & Case acted as advisors to Property Finder on the transaction.

The first venture capital firm to launch in the UAE, BECO was a key investor in the early-stage round of funding for Property Finder.

The debt financing represents Francisco Partners’ first investment of its kind in the UAE, according to a spokesperson from the firm.

Both the debt financing and share buyback have been supported by the real estate portal’s remaining institutional investor, General Atlantic, which is a private equity firm.

(Writing by Cleofe Maceda; editing by Seban Scaria)