Here’s what private equity may be getting right

A RECENT offer by private equity (PE) group EQT for property listings website operator PropertyGuru Group might have some wondering just what EQT sees in the loss-making company.

Has the public market undervalued the potential PropertyGuru holds? Perhaps; but it’s also possible that potential may only be accessible through PE ownership.

PropertyGuru listed on the New York Stock Exchange in 2022 via a merger with special purpose acquisition company Bridgetown 2 Holdings that gave the former an equity value of US$1.78 billion.