Genstar Capital eyes TravelClick exit


hotel2_lrgPrivate equity firm Genstar Capital is reportedly considering exiting its investment in hotel booking software company TravelClick.

Genstar has hired Evercore Partners to run an auction of the company, which could be valued at $800m in a sale, said Reuters, citing four people familiar with the matter.

TravelClick, which currently has 36,000 hotel clients in more than 160 countries, had revenues of $257m in 2012, according to Moody’s.

The San Francisco-based firm bought TravelClick from Bain Capital and its co-founders Richard Gray and Ray Cohen in 2007, while Bain’s venture arm took a minority stake in the business.

It was recently reported that Genstar led a $75m equity investment in earthquake insurance business Palomar Specialty Insurance.

The firm is currently investing from its sixth fund, which is believed to have closed around its reduced $1bn target.

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