Element Fleet Management Advances with Blackstone Partnership for $500M Funding

Element Fleet Management Corp. and Blackstone Credit & Insurance have announced a strategic funding partnership centered on a CAD $500 million portfolio of Canadian fleet lease receivables. This arrangement allows Element to optimize its funding strategies and off-balance-sheet treatment, enabling further growth and asset origination efficiency. Blackstone's role as a capital provider leverages its expertise in asset-based finance to assist Element in enhancing its client offerings worldwide. This initiative highlights Blackstone's capacity to finance various sectors of the real economy through asset-based efforts. Element, as the largest pure-play automotive fleet manager, underscores its commitment to client-centric mobility solutions across North America and Oceania. Both companies emphasize the forward-looking nature of this partnership, recognizing the inherent uncertainties and potential impacts of external factors on their anticipated outcomes.