TDR, ADIA, GIC, PGGM, ATP and GS Asset Management completed the acquisition of CarNext from LeasePlan.

Investment firms TDR, ADIA, GIC, PGGM, ATP and GS Asset Management completed the acquisition of CarNext, an online B2C and B2B used car marketplace, from LeasePlan, an automobile leasing company. The deal was structured as a carve out. CarNext raised $451m as part of the transaction. “This is a giant step forward for CarNext and a great day for used car customers. We are very happy that CarNext was able to attract this significant funding to accelerate the next phase of its growth, and offer even more customers a great selection of used cars at competitive prices. LeasePlan will continue to focus on what we do best: leading the car subscription megatrend, supported by an industry leading remarketing partner delivering the best prices for our high-quality used vehicles. I am extremely proud of the fully digital business model we’ve built at CarNext, and wish our colleagues every success as they continue to disrupt the exciting used car market," Tex Gunning, LeasePlan CEO.