Warburg Pincus invests in vacation rental firm Awayday

Awayday, a vacation rental management company based in Destin, Fla., has closed an investment from Warburg Pincus through the Warburg Pincus Capital Solutions Founders Fund, according to a press release. Financial terms were not disclosed.

Awayday manages more than 18,000 properties across the United States under a portfolio of local brands, supported by more than 1,800 employees. Existing majority shareholders, an Ares Management Corporation (NYSE: ARES) private equity fund and LightBay Capital, will retain controlling stakes in the company.

Awayday said it will use proceeds from the investment to return capital to existing equity investors, including Ares, LightBay, and rollover equity partners, as well as to distribute proceeds to local operators and team members.

"Warburg Pincus' investment is a vote of confidence in our team of more than 1,800 people," said Jakob Dwyer, CEO of Awayday. "Ownership mentality is one of our core values: we ask our teams to think and act like owners, and we believe they should share in the value they create."

Lee Becker, Managing Director at Warburg Pincus, said the investment aligns with the firm's strategy of partnering with businesses that have demonstrated organic growth and local expertise.

The Warburg Pincus Capital Solutions Founders Fund closed in September 2024 with over $4 billion in commitments. Warburg Pincus manages more than $105 billion in assets under management across private equity, real estate, and capital solutions strategies.

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