Investment in Idealista

Oakley Capital (“Oakley”) is pleased to announce that Oakley Capital IV (“Fund IV”) has agreed to make a minority investment in idealista (the “Company”), the leading online real estate classifieds platform in Southern Europe, present in Spain, Italy, and Portugal.

Fund IV will invest €175 million alongside the management team of idealista and EQT, who will remain the majority shareholders in the Company.

Fund IV’s investment in idealista will draw upon Oakley’s proven expertise in the online classifieds sector. Oakley has an in-depth understanding of idealista from Oakley Capital Private Equity III (“Fund III”)’s successful sale of Casa.it (“Casa”) to EQT in September 2020, which was subsequently combined with idealista’s Italian operations. The highly synergistic combination with Casa has strengthened the Company’s competitive positioning in Italy and is complementary to idealista’s market leading position in Spain and Portugal.

Founded in 2000 and headquartered in Madrid, Spain, idealista supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe by providing an online real estate classifieds marketplace for home buyers and sellers. The Company’s online platform and diversified portfolio of digital services, such as CRM tools, data analytics, and online mortgage brokerage, help facilitate efficient real estate transactions, making it a key destination for prospective homeowners and sellers in Spain, Italy, and Portugal. idealista is a clear leader in Spain and Portugal and has a growing presence in Italy, a market where the Company will benefit from Oakley’s previous experience with Casa.

idealista’s underlying market is supported by favourable secular megatrends, such as the increasing penetration of the online classifieds market in Italy, Spain and Portugal as they mature in line with more developed global classifieds markets; the shift from offline to online marketing spend by real estate agents; and the significant network effects driven by the platform’s strong brand recognition.

Jesús Encinar, Founder, Chairman & CEO of idealista, commented:
“We are very excited to partner with EQT and Oakley and look forward to working together during the coming years. EQT and Oakley’s online classifieds and real estate expertise will be of great value for us and key to our future success. We share a similar culture and passion for growth – a key decision factor for me and my team to partner with them.”