The Dubai-based classifieds company, Property Finder, is seeking to raise $250 million in the form of debt financing through Ares Management, an Alternative investment company of the US, to finance its expansion in the region.
Capital investment’s commitment of Ares credit funds will be allocated in product innovation, AI, marketing and branding, and new partnerships.
Axis Arbor Partners, a London-based company, was the debt advisor to Property Finder in the transaction.
Permira and Blackstone Inc. bought a minority stake of $525 million in September in the classifieds company after a partial sale of stakes to General Atlantic, which had been an early investor in Property Finder since 2018.
In the previous year, an American-based private equity firm, Francisco Partners, extended a loan to the tune of $90 million to Property Finder to enable the company to purchase out an institutional investor, BECO Capital.
