Ares Management Alternative Credit, a strategy focused on lending to and investing in assets in the capital markets between credit, private equity and real estate, has provided Avant LLC, a financial technology company, with $250 million of corporate debt and redeemable preferred equity.

The funding follows a $250 million securitization in September 2022. This brought the total amount of asset-backed debt financing commitments to over $1.6 billion to support its consumer credit portfolios. To date, Avant has provided access to over $9 billion in credit serving almost 3 million customers.

“This capital infusion from Ares will further fuel our credit portfolio and next-gen platform, enabling stronger competitive advantage,” comments Matt Bochenek, CEO of Avant.

FT Partners served as strategic and financial advisor to Avant on this transaction.