TPG in S$175 Million Investment in PropertyGuru
June 22, 2015
Cleary Gottlieb represented its longtime client TPG Capital in connection with a S$175 million investment in PropertyGuru Group. Other investors included Indonesia’s largest media group, Emtek Group, and leading Asia Pacific-based tech venture capital firm Square Peg Capital. The transaction, which closed on June 22, represents the largest investment in the technology sector in Southeast Asia so far in 2015.
PropertyGuru Group is Asia’s leading online property portal group, used by more than 11 million property buyers, viewing over 104 million property pages and generating over 500,000 enquiries for real estate developer and agent advertisers every month across Singapore, Malaysia, Indonesia and Thailand. Headquartered in Singapore, PropertyGuru was founded in 2006 by Jani Rautiainen and Stephen Melhuish.