(IN BRIEF) EQT Private Capital Asia, through its BPEA Private Equity Fund VIII, has announced the acquisition of PropertyGuru Group Limited, a leading PropTech company in Southeast Asia. This move strengthens EQT’s portfolio in the digital real estate sector, providing PropertyGuru with the resources to expand its technological capabilities and market presence. The acquisition is expected to close in the coming months, pending regulatory approvals.
(PRESS RELEASE) STOCKHOLM, 16-Aug-2024 — /EuropaWire/ — EQT Private Capital Asia has announced its plans to acquire PropertyGuru Group Limited (NYSE: PGRU), a prominent PropTech company in Southeast Asia, through its BPEA Private Equity Fund VIII. This acquisition is a strategic move by EQT to strengthen its portfolio in the rapidly growing digital real estate sector within the Asia-Pacific region.
PropertyGuru, known for its innovative real estate platforms and digital tools, has established itself as a market leader across Southeast Asia, providing property search solutions, digital marketing, and sales solutions to millions of users. The company’s presence spans key markets, including Singapore, Malaysia, Thailand, Indonesia, and Vietnam, making it a vital player in the region’s real estate technology landscape.
The acquisition by BPEA Private Equity Fund VIII aligns with EQT’s mission to support companies that demonstrate strong growth potential and market leadership. EQT’s investment will provide PropertyGuru with the resources and expertise needed to further expand its technological capabilities, enhance user experience, and continue its growth trajectory in the digital property space.
This transaction marks a significant investment for BPEA Private Equity Fund VIII, which is expected to be 70-75 percent invested following the acquisition. EQT’s strategic focus on high-growth sectors and markets is reflected in this latest move, underscoring its commitment to backing companies that drive innovation and digital transformation.
PropertyGuru’s leadership team also expressed enthusiasm for the partnership, noting that EQT’s global experience and resources will be instrumental in accelerating their growth and enhancing their offerings to better serve their users and clients across Southeast Asia.
The acquisition is subject to customary regulatory approvals and conditions, with the transaction expected to close in the coming months.
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
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