Entrata, a provider of property management software, has secured a $200m minority investment from Blackstone, valuing the Utah-based company at $4.3bn in the latest non-control PE transactions in the tech-enabled real estate space, according to a report by Reuters.
The deal marks a strategic partnership between Blackstone, the world’s largest alternative asset manager, and a company already backed by Silver Lake, which retains its majority governance stake following the transaction.
“This investment from Blackstone represents a powerful alignment of capital and expertise that will allow us to bring world-class technology to an expanded footprint of owners, operators, and residents,” said Adam Edmunds, CEO of Entrata.
The transaction underscores a key 2025 private equity trend: the increasing use of minority deals to gain exposure to high-growth, later-stage businesses without displacing incumbent sponsors or founders. Blackstone’s move mirrors similar deals seen this month, including Hub International’s $29bn valuation and General Atlantic’s minority investment in Liftoff, also at a $4.3bn valuation.
Founded in 2003, Entrata offers a comprehensive platform for multifamily housing operators to manage work orders, finances, and online payments. It currently serves more than 12 million residents across 35,000 communities globally.
The new capital injection is expected to accelerate Entrata’s AI-driven roadmap, allowing it to scale operational capabilities and deepen integrations across Blackstone’s vast real estate portfolio
