Want to make money in property? The simplest way would be to buy into a well known property portal Idealista.
You want to make money in property? There are many options, but this one is a bit unusual. To invest into the up and coming online business is one of those options. Investment fund Apax Partners did this in 2015, buying 70% stake of Idealista, famed Spanish property portal, valued at 235 million Euros at that time.
They have sold their shares this month, to another investment fund, EQT IX, for a whooping 1,3 billion Euros. Not bad for an investment fund. Even better for Jesus Encinar, founder and president of Idealista, who started this business in 2000 and still owns the rest of the shares.
He will stay in the company, with his team, and continue to lead Idealista to the new frontiers. EQT IX is a global investment company with more than 62 billion Euros in capital and 40 billion in assets managed in 19 funds. EQT participates in companies in Europe, Asia-Pacific, the US and Canada that generate more than 27 billion euros per year and create more than 159,000 jobs.
This buyout will spur Idealista´s growth at an accelerated rate. According to Carlos Santana, managing director of EQT Private Equity, Jesús, Idealista´s founder, together with César, Fernando, Marta and their management team can count on EQT to go even further. First thing they can count on is to be able to achieve further expansion in the countries where Idealista is present and will consolidate its leadership position in southern Europe.
Jesús Encinar, founder and president of Idealista, said after the agreement: “After 5 years of an excellent relationship with Apax and its partners, I am delighted to have helped them sell their participation with an excellent result for their investors (mostly pension funds and sovereign wealth funds). We are now opening a new path for Idealista with one of the most respected European funds with which we fully share values to create innovative, leading, sustainable and socially responsible companies”.
Albert Costa, principal at Apax Partners, said: ”We are very proud of the growth of Idealista and the leadership position it has achieved in Spain, Portugal and Italy. We wish Idealista and EQT all the best in this new stage”.
