PropertyGuru Takeover On The Horizon? KKR And TPG Reportedly Explore Buyout

KKR & Co. Inc. KKR and TPG Inc. (TPG) are reportedly exploring options, including a buyout of Southeast Asian online real estate platform PropertyGuru Group Ltd. PGRU.

The U.S. private equity firms are working with a financial adviser to help gauge initial interest from other global investors in PropertyGuru, reported Bloomberg. 

As per the report, KKR and TPG, which own about 26.5% and 29.6% of PropertyGuru, respectively, could also buy the remaining shares they don’t already hold.

Yesterday, PropertyGuru reported Q1 FY24 revenue of S$36.5 million, missing consensus of S$37.3 million and adjusted EBITDA rose to S$4 million from S$0.2 million a year ago.

This month, KKR acquired a significant minority stake in Infinx to enhance its growth and support healthcare tech advancements.

Also, KKR inked a deal to acquire Perpetual’s wealth management and corporate trust businesses for AU$2.175 billion (~$1.43 billion).

Investors can gain exposure to KKR stock via Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF FMCX and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF LBO.

Price Action: KKR shares are up 0.11% at $106.61 at the last check Wednesday.

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