Oakley Capital sells stake in real estate classifieds platform idealista to Cinven

In a significant development in the real estate and private equity sectors, Oakley Capital Fund IV has announced the sale of its stake in idealista, southern Europe’s premier online real estate classifieds platform, to the global private equity firm Cinven. This transaction, which values idealista at €2.9 billion, marks a pivotal moment for the company, which has consistently outperformed its initial investment expectations.

The sale delivers a substantial return for Oakley Capital, with Fund IV realizing a gross return of 2.1 times money multiple (MM) and approximately 22% internal rate of return (IRR). This exit reflects the robust valuation trends currently seen in the digital real estate sector and is contingent upon customary regulatory approvals and conditions.

Since Oakley Capital’s initial investment in 2021—following the strategic merger of Oakley’s portfolio company Casa.it with idealista’s Italian operations in 2020—idealista has grown to connect about 60,000 real estate agents with over 38 million unique monthly visitors. This platform generates more than one billion annual visits, significantly impacting the real estate markets in Spain, Italy, and Portugal.

Oakley Capital’s divestiture from idealista continues its successful track record in the digital consumer sector. Previous notable exits by Oakley include Facile.it, ParshipElite Group, and Verivox, showcasing the firm’s adeptness at identifying and nurturing high-potential digital platforms. Oakley’s focused investment strategy, particularly in the Iberian market, underscores the region’s growing appeal as a tech hub, with other investments including adtech business Seedtag and SaaS provider Grupo Primavera.

Peter Dubens, co-Founder and Managing Partner at Oakley Capital, expressed satisfaction with the partnership’s success. “Our journey with idealista is a testament to Oakley’s commitment to supporting exceptional founders in the digital sector,” said Dubens. He also highlighted the strategic importance of the Iberian market in Oakley’s investment portfolio.

Jesús Encinar, Founder, Chairman & CEO of idealista, also commented on the transition, noting, “With the support of Oakley and now Cinven, idealista has solidified its position as a leader in the online real estate space in southern Europe. We are excited about the future prospects and the continued growth trajectory under Cinven’s partnership.”

The sale of Oakley Capital’s stake in idealista not only signifies a lucrative exit for the private equity firm but also positions idealista for its next growth phase under Cinven’s stewardship. This deal highlights the vibrant dynamics of the digital real estate market and the strategic movements within the private equity landscape in southern Europe.

This transaction is indicative of the high confidence in digital platforms that streamline and enhance market efficiencies, particularly in the real estate sector. Oakley’s exit strategy from idealista reflects a well-executed investment and exit plan that capitalizes on the growing digital transformation in real estate transactions across Europe.