Singapore – Global investment company EQT Private Capital Asia has completed its acquisition of property technology company PropertyGuru Group Limited by BPEA Private Equity Fund VII. The deal values PropertyGuru at approximately US$1.1b.
Due to the acquisition, PropertyGuru has been removed from the New York Stock Exchange, as it will operate as a privately held company.
EQT’s investment aims to support PropertyGuru in advancing technology development, expanding market reach, and improving operations. Through the acquisition, EQT is set to strengthen the company’s position in the industry to drive growth. Both parties have agreed on the acquisition earlier in August.
PropertyGuru is among the leading property technology platforms in Southeast Asia, offering comprehensive real estate listings, mortgage solutions, and enterprise client solutions.
Meanwhile, EQT has worked with various companies in the digital marketplace and real estate industry, including Idealista and Casa.it.
Hari Krishnan, chief executive officer at PropertyGuru Group, said, “We are pleased to announce the successful completion of this transaction and we welcome EQT to PropertyGuru. Over the past seventeen years, our growth has been enabled by strong partnerships with our shareholders, led by TPG and KKR. On behalf of everyone at PropertyGuru, I want to thank them for their support and I am proud that we have delivered a solid financial exit for our long-term investors.”
“On behalf of our group leadership team, I thank our Gurus for their hard work and the wonderful business we have built together, and our customers and partners for their continued trust and partnership. EQT shares our commitment to our continued sustainable growth, and we look forward to working with them towards our Group’s vision to power, communities to live, work and thrive in tomorrow’s cities,” Krishnan added.
Janice Leow, partner in the EQT Private Capital Asia advisory team and head of EQT Private Capital Southeast Asia, said, “PropertyGuru has redefined the property technology landscape in Southeast Asia, standing out for its innovation and leadership in delivering solutions that empower millions across the region. Drawing on EQT’s expertise in technology-driven businesses, with a strong focus on marketplace and classifieds platforms, we look forward to supporting PropertyGuru in exploring new opportunities, enhancing its offerings, and driving its next phase of growth while contributing to the evolution of the property market in Southeast Asia.”
