TPG Capital seeks buyer for RentPath


real estate2_lrgPrivate equity firm TPG Capital is reportedly preparing to exit its investment in property listings group RentPath, which operates the Apartment Guide and websites.

TPG is preparing to work with investment bank Moelis & Co to find a buyer for the business, which could be valued at more than $1.5bn, said Reuters, citing people familiar with the matter.

TPG bought RentPath for $525m in 2011 from fellow private equity firm KKR, which had been invested in the company since its launch in 1989.

During that time the company transitioned from print publishing to providing digital classified advertising for apartment leasing via websites.

RentPath’s websites are viewed by more than seven million users per month.

Last month TPG made a £200m investment in UK bathroom products and furniture retailer Victoria Plumb.

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