Synopsis
Permira and Blackstone Inc. are acquiring a $525 million minority stake in Property Finder, a Dubai-based classifieds firm, signaling strong investor confidence in the emirate’s real estate market. General Atlantic, an existing investor, will partially exit but remain a significant shareholder.
Reuters Permira and Blackstone are investing in Property Finder, a Dubai-based classifieds firm. They are acquiring a $525 million minority stake. Permira and Blackstone Inc are acquiring a $525 million minority stake in Dubai-based classifieds firm Property Finder, according to a joint statement on Tuesday, in a sign of continued investor appetite in the emirate’s real estate market.
As part of the transaction, General Atlantic, an early backer of Property Finder since 2018, has partially exited but will remain a significant minority shareholder, the statement said.
The deal will give Property Finder access to the global expertise of all three private equity firms, Permira, Blackstone, and General Atlantic, as it expands its platform and targets growth across the Middle East and North Africa real estate market, the companies said in the joint statement.
The companies did not disclose the valuation for the transaction, which is subject to customary regulatory approvals.
This marks Permira’s first investment in the Middle East, and comes just months after the firm opened an office in Dubai’s financial district.
Global private equity firms are increasingly establishing a presence in the Gulf region to be closer to sovereign wealth funds and capitalize on a growing pipeline of regional dea
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