07:22 AM EST, 02/27/2025 (MT Newswires) -- Element Fleet Management ( ELEEF ) , a pure-play automotive fleet manager, and funds managed by Blackstone Credit & Insurance, through its Infrastructure & Asset-Based Credit group, announced Thursday the establishment of a strategic funding relationship involving a portfolio of Canadian fleet lease receivables valued at approximately C$500 million.

"Through this strategic 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," a statement said.