Warburg Pincus has closed an undisclosed investment in Awayday, a vacation rental management company majority-owned by an Ares Private Equity fund and Light Bay Capital. Ares and Light Bay will remain the controlling shareholders. Awayday will use the proceeds to return capital to its existing equity investors, including Ares, Light Bay and its rollover equity partners. Proceeds will also go to local operators and team members who have helped drive the company's growth.
Awayday partners with independent vacation rental operators that want the scale, systems and support of a national platform while keeping their local identity. The company manages more than 18,000 properties across the US through a portfolio of local brands, with more than 1,800 team members.
"Awayday has built an exceptional vacation rental management company, rooted in a business model that combines national reach with local connections and expertise," said Lee Becker, managing director at Warburg Pincus. "That model has fueled both strong organic growth and a highly effective M&A strategy."
The investment was made by Warburg Pincus Capital Solutions Founders Fund, which closed in September 2024 with over $4 billion in commitments. Light Bay Capital is a Los Angeles-based private equity firm with $1.7 billion of committed capital.
Source: PE Hub · Summarized by HeadlinesBriefing