Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Private equity firm New Mountain Capital has agreed to acquire Asset Living, a US-based residential property management company, in a transaction valued at more than USD 2 billion. The deal includes Asset Living’s owned real estate portfolio and proprietary technology platform. CEO Ryan McGrath is expected to remain involved in the business following the acquisition. The transaction comes amid growing investor interest in residential property management firms, which offer recurring revenue streams and exposure to rental housing demand. Asset Living manages multifamily, student and affordable housing communities across more than 40 US states.
Private equity firm New Mountain Capital has reached an agreement to acquire residential property management company Asset Living in a deal valued at more than USD 2 billion, according to people familiar with the matter.
The transaction follows a sale process initiated by Asset Living’s owner, Roark Capital, which had engaged investment bank William Blair to explore strategic options for the business. Sources indicated that New Mountain Capital will acquire the company in partnership with Asset Living CEO Ryan McGrath, who is expected to continue playing an active role in the organisation after the transaction is completed.
The acquisition includes Asset Living’s owned real estate portfolio as well as its proprietary technology suite, reflecting the increasing importance of technology-driven property management platforms in the residential housing sector.
Neither New Mountain Capital nor the parties involved in the transaction publicly commented on the deal. Roark Capital, William Blair and Asset Living also did not provide immediate responses to requests for comment.
Founded in 1986 and headquartered in Houston, Texas, Asset Living provides property management services for multifamily, student housing and affordable housing communities. The company operates on behalf of institutional investors and local real estate owners and manages properties across more than 40 states in the US.
The transaction highlights a broader trend within the private equity industry, where investors have increasingly targeted residential property management businesses. Such companies generate recurring management fees while offering exposure to strong rental housing demand without requiring significant direct ownership of residential assets.
The sector has continued to attract investor interest as housing affordability challenges and elevated homeownership costs in several markets support long-term demand for rental accommodation. Property management firms have also become attractive acquisition targets because of their scalable operating models and technology-enabled service platforms.
New Mountain Capital is among the larger private equity investors in the market, with approximately USD 60 billion in assets under management. The acquisition of Asset Living further expands its exposure to the residential housing ecosystem and property services sector.
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
