“The US private equity firms are working with a financial adviser to help gauge initial interest from other global investors in New York-listed PropertyGuru,” said the people, asking not to be identified because the matter is private.

KKR and TPG, which own about 26.5% and 29.6% of PropertyGuru, respectively, could also opt to buy the remaining shares they don’t already hold, the people said.

“Considerations are preliminary and no final decisions have been made,” said the people.

A representative for KKR declined to comment on the subject.

TPG and PropertyGuru didn’t immediately respond to requests seeking comment.

PropertyGuru’s shares have climbed 32% this year, valuing it at US$723 million (RM3.395 billion).

Singapore-based PropertyGuru went public in New York in 2022 after a merger with Bridgetown 2 Holdings Ltd, a special purpose acquisition company backed by billionaires Richard Li and Peter Thiel.

Australia’s REA Group Ltd also owns a significant minority stake in the business as part of a broader deal in 2021.

Established in 2007 and led by CEO Hari V Krishnan, PropertyGuru provides online property search services in markets including Singapore, Malaysia, Vietnam and Thailand.