Private equity investment firm Golden Gate Capital agreed to sell Green Street Advisors LLC, which provides research, data and analytics to the commercial real estate industry in North America and Europe.
The buyer is technology and healthcare-focused private equity firm Welsh Carson Anderson & Stowe.
Green Street management agreed to reinvest part of its proceeds from the transaction to retain an undisclosed "meaningful ongoing interest" in the company. Green Street aims to use proceeds from the new partnership to accelerate investments in product innovation, data, sales and customer success.
Completion of the transaction, terms of which were not made public, is subject to customary regulatory approvals.
Kirkland & Ellis LLP was Welsh's adviser, while Golden Gate Capital and Green Street were advised by Evercore and Kirkland.