Property Finder Secures $525 Million Strategic Investment from Permira, Blackstone, and General Atlantic to Accelerate Growth Across MENA
PE FORUM > Blog > Fundraising News > deals > Property Finder Secures $525 Million Strategic Investment from Permira, Blackstone, and General Atlantic to Accelerate Growth Across MENA
– Property Finder, a leading property portal in the Middle East and North Africa (MENA), announced a combined total investment of $525 million, led by funds advised by Permira.
– The investment represents a meaningful minority stake, reaffirming Property Finder’s position as a market leader and technology innovator in MENA’s property classifieds market.
– General Atlantic, a cornerstone shareholder since 2018, sold part of its stake while retaining a significant minority shareholding.
– Permira, Blackstone, and General Atlantic bring global expertise and a track record of investing in leading online classifieds businesses.
– Their participation reflects confidence in Property Finder’s growth potential in the UAE and across MENA.
– Property Finder operates the largest and most preferred property portal in MENA.
– The UAE property market, Property Finder’s largest market, is valued at approximately $160 billion in 2024 and projected to grow around 13% over the next five years.
– Property Finder has transformed how people buy, sell, and rent homes in the region through its listings, user experience, and innovative products powered by technology and AI.
– Michael Lahyani, CEO and Founder, highlighted that the partnership accelerates Property Finder’s mission to reshape real estate in the region through technology and AI.
– David Erlong, Permira, emphasized the company’s scale, technology, and brand trust as a platform for long-term growth in the digitizing MENA real estate sector.
– Robert Hou, Permira, noted the sustainable, structural drivers supporting Property Finder’s continued expansion in MENA.
– Paul Morrissey, Blackstone Growth, expressed confidence in Property Finder’s growth potential and commitment to improving property search and transactions.
– Chris Caulkin, General Atlantic, stated that the transaction allows partial value crystallization while remaining strongly invested in Property Finder’s future growth.
– Permira, Blackstone, and General Atlantic have a strong track record in online classifieds, including strategic investments in Adevinta ASA.
– The transaction will help Property Finder leverage international expertise, expand into new markets, and capture emerging opportunities across MENA’s
real estate sector.
– The transaction is subject to customary approvals.
– J.P. Morgan acted as sole placement agent to Property Finder and General Atlantic.
– Funds managed by Blackstone Accelerates Growth are investing significant capital in the transaction.
– The investment represents a meaningful minority stake, reaffirming Property Finder’s position as a market leader and technology innovator in MENA’s property classifieds market.
– General Atlantic, a cornerstone shareholder since 2018, sold part of its stake while retaining a significant minority shareholding.
– Permira, Blackstone, and General Atlantic bring global expertise and a track record of investing in leading online classifieds businesses.
– Their participation reflects confidence in Property Finder’s growth potential in the UAE and across MENA.
– Property Finder operates the largest and most preferred property portal in MENA.
– The UAE property market, Property Finder’s largest market, is valued at approximately $160 billion in 2024 and projected to grow around 13% over the next five years.
– Property Finder has transformed how people buy, sell, and rent homes in the region through its listings, user experience, and innovative products powered by technology and AI.
– Michael Lahyani, CEO and Founder, highlighted that the partnership accelerates Property Finder’s mission to reshape real estate in the region through technology and AI.
– David Erlong, Permira, emphasized the company’s scale, technology, and brand trust as a platform for long-term growth in the digitizing MENA real estate sector.
– Robert Hou, Permira, noted the sustainable, structural drivers supporting Property Finder’s continued expansion in MENA.
– Paul Morrissey, Blackstone Growth, expressed confidence in Property Finder’s growth potential and commitment to improving property search and transactions.
– Chris Caulkin, General Atlantic, stated that the transaction allows partial value crystallization while remaining strongly invested in Property Finder’s future growth.
– Permira, Blackstone, and General Atlantic have a strong track record in online classifieds, including strategic investments in Adevinta ASA.
– The transaction will help Property Finder leverage international expertise, expand into new markets, and capture emerging opportunities across MENA’s
real estate sector.
– The transaction is subject to customary approvals.
– J.P. Morgan acted as sole placement agent to Property Finder and General Atlantic.
– Moelis & Company served as Independent Financial Advisor to Property Finder, with Axis Arbor Partners LLP as Debt Advisor.
– Cooley LLP advised Michael Lahyani; CitiGroup and Clifford Chance advised Permira; Weil, Gotshal & Manges LLP advised General Atlantic; Dechert LLP advised Blackstone.