Krishnan Steps Down as PropertyGuru CEO, Ng to Take the Helm
Portfolio - People | Jan 13, 2025 | EIN
PropertyGuru, a prominent property classifieds group in Southeast Asia, is undergoing a leadership transition. CEO Hari V Krishnan, who significantly transformed the company into a proptech leader over a decade, is stepping down to pursue new interests, yet will remain tied to the company as a senior advisor. He is succeeded by Lewis Ng, who returns to the company he once served in various leadership roles. The board of directors is also seeing changes with Trevor Mather appointed as chairman and the inclusion of Janice Leow and Ed Williams. PropertyGuru's journey under Krishnan included milestones such as its NYSE listing and acquisition by EQT Private Capital Asia, valuing it at $1.1 billion. The move signals a new phase for PropertyGuru, noted for its online property platforms and expanded services in Southeast Asia.
Sectors
- Proptech
- Investment Management
Geography
- Southeast Asia – PropertyGuru is one of the largest online property listing platforms in Southeast Asia, and this geographical focus is central to its operations and market impact.
- United States – PropertyGuru was listed on the New York Stock Exchange, positioning the U.S. as a key geography for its financial markets presence.
- Sweden – EQT, the investment firm involved in the acquisition, is based in Sweden, highlighting the cross-border nature of the transaction.
Industry
- Proptech – PropertyGuru operates within the proptech industry, integrating technology into the real estate sector to improve and innovate real estate activities and transactions.
- Investment Management – EQT Private Capital Asia's acquisition of PropertyGuru places the focus on investment management, highlighting mergers and acquisitions within the sector.
Financials
- $1.1 billion – The valuation of PropertyGuru during its acquisition by EQT Private Capital Asia.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PropertyGuru | Target company | Company | Southeast Asian property classifieds group undergoing leadership transition. |
| Hari V Krishnan | Outgoing CEO | Person | Outgoing CEO of PropertyGuru who led the company for a decade. |
| Lewis Ng | Incoming CEO | Person | Incoming CEO, returning to PropertyGuru to lead the company. |
| EQT Private Capital Asia | Bidding Company/Investor | Company | Swedish alternative investment firm that acquired PropertyGuru. |
| Trevor Mather | Chairman | Person | Newly appointed chairman of PropertyGuru's board, experienced in scaling marketplace businesses. |
| Janice Leow | Board Member | Person | Partner at EQT Private Capital Asia, appointed to PropertyGuru's board. |
| Ed Williams | Board Member | Person | Founder and former CEO of Rightmove, appointed to PropertyGuru's board. |