Property Finder secures Emirati sovereign support: Dubai’s Property Finder secured a USD 170 investment led by Mubadala, along with another UAE sovereign wealth fund that wasn’t specified, according to a press release. The two sovereign wealth funds will each invest USD 75 mn, while Dubai-based venture firm Beco Capital will invest USD 20 mn from its newly launched USD 250 mn Growth Fund I. Beco was previously an investor in the platform until 2024, when it was bought out by US private equity firm Francisco Partners.

Why it matters: This growth round signals a homecoming for Property Finder, which is shifting its dependency on western private equity to UAE sovereign capital. The company had been rumored to be exploring either an IPO and broadening its cap table, though CEO Michael Lahyani denied plans to IPO and said that “you need a minimum size before you can IPO a business” in an interview with Bloomberg.

The platform secured over USD 775 mn in PE funding last year. California-based Ares Management, through its credit funds, handed Property Finder a USD 250 mn loan to support its expansion across the GCC. London’s Permira and US-based Blackstone Growth invested USD 525 mn into the platform.

ADVISORS- JPMorgan served as the sole placement agent for Property Finder in the transaction, while Moelis & Company acted as a financial advisor. Freshfields provided counsel to Property Finder, and Cooley represented Property Finder CEO Michael Lahyani.

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