TPG Real Estate acquires developer Quintain from Lone Star [Video]

TPG Real Estate, the real estate platform of alternative asset management firm TPG, has acquired Quintain Developments Ireland (QDI) in partnership with company management.

QDI is the largest privately-owned residential developer in Ireland and was previously owned by funds managed by private equity firm Lone Star.

TPG Real Estate will provide QDI with additional capital and resources to support its next stage of growth as its seeks to accelerate its delivery of housing. Since 2015, the company has delivered more than 2,300 homes.

The transaction includes existing sites and ongoing projects in Adamstown, Clonburris, and Portmarnock. Financial details of the deal were not disclosed.

The QDI land bank across the greater Dublin area can accommodate 7,700 residential units, and the company operates in master planning, design, construction, and sales and marketing.

QDI reported turnover of €13.8m and pre-tax profits of €1.2m in 2022, the last year for which accounts are available, with total equity …