IPO Edge and the Palm Beach Hedge Fund Association hosted a fireside chat with the CEO of Vacasa, LLC and the Managing Partner of TPG Pace Group to discuss Vacasa’s business combination with TPG Pace Solutions (NYSE: TPGS), professionalization of the vacation rental industry, competitive advantage, and the launch of the company’s homeowner app. The live event will feature Vacasa CEO Matt Roberts and TPG Pace Group Managing Partner Karl Peterson joined by IPO Edge Editor-in-Chief John Jannarone and Editor-at-Large Jarrett Banks in a moderated video session lasting approximately 60 minutes and including a Q&A with the audience.
Watch the two highlight videos below (or click the link underneath to see the entire event):
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience from inefficient and inconsistent, to reliable and technology-forward. Vacasa’s integrated technology and operations helps optimize vacation home care and income for homeowners, offers guests a seamless and consistent stay, and provides distribution partners with highly valuable vacation rental supply. The Company’s marketplace enables guests to search, discover and book properties on Vacasa.com and the Vacasa Guest App, as well as 100+ channel partners, including Airbnb, Booking.com and Vrbo.
TPG Pace Group is TPG’s dedicated permanent capital platform. TPG Pace Group has a long-term, patient and highly flexible investor base, allowing it to seek compelling opportunities that will thrive in the public markets. TPG Pace Group has sponsored seven SPACs and raised more than $4.4 billion since 2015.
TPG Pace Solutions is a publicly listed (NYSE: TPGS) special purpose acquisition company, which raised approximately $285 million in order to seek an acquisition with a company in an industry that complements the experience and expertise of the TPG management team and TPG. For more information, visit https://www.tpg.com/pace-solutions.
Messrs. Roberts and Peterson discussed:
- Vacasa’s SPAC transaction with TPG Pace Solutions
- The continued professionalization of the vacation rental industry and the role which Vacasa plays (creating supply and removing barriers for second homeowners looking to rent)
- The market opportunity for vacation rentals
- How Vacasa’s technology provides it with a competitive advantage
- Launch of homeowner app
- Vacasa’s growth strategy and value proposition to consumers, homeowners and investors
TPG Pace Solutions also announced a record date of November 1, 2021 (the “Record Date”) and a meeting date of November 30, 2021 for its extraordinary general meeting (the “Special Meeting”) to approve the Business Combination. The closing of the Business Combination is subject to approval by TPG Pace Solutions’ shareholders, and the satisfaction of other customary closing conditions. The Business Combination is expected to close promptly after the Special Meeting.
Upon closing, the combined company is expected to be listed on Nasdaq with its common stock trading under the new ticker symbol “VCSA”.
The meeting will be held at 4:30 pm Eastern Time, on November 30, 2021 at https://www.cstproxy.com/tpgpacesolutions/2021 and at the offices of Weil, Gotshal & Manges LLP, located at 767 5th Avenue, New York, NY 10153. TPG Pace Solutions has determined that the meeting will be a hybrid virtual meeting conducted via live webcast in order to facilitate stockholder attendance and participation. To register and receive access to the hybrid virtual meeting, registered shareholders and beneficial shareholders (those holding shares through a stock brokerage account or by a bank or other holder of record) will need to follow the instructions applicable to them provided in the proxy statement. TPG Pace Solutions recommends all stockholders vote in advance of the Special Meeting by telephone, via the Internet or by signing, dating, and returning the proxy card upon receipt.
Your vote FOR ALL proposals is important, no matter how many or how few shares you own. If you have any questions or need assistance voting, please contact Morrow Sodali LLC, our proxy solicitor, by calling (800) 662-5200, or banks and brokers can call collect at (203) 658-9400, or by emailing TPGS.firstname.lastname@example.org.
About the Speakers:
Matt Roberts is Chief Executive Officer of Vacasa. Serving on the company’s Board of Directors since 2019, Roberts became CEO a year later to lead the company’s strategic growth and corporate vision. Formerly CEO of OpenTable and CFO at E-LOAN, Roberts has deep experience working for two-sided marketplaces and rapid-growth companies that utilize technology to deliver exceptional consumer experiences.
Karl Peterson is a Senior Partner of TPG and Managing Partner of TPG Pace Group, the firm’s effort to sponsor SPACs and other permanent capital solutions for companies. After rejoining TPG in 2004, Mr. Peterson led investments for the firm in the technology, media, financial services, and travel sectors and oversaw TPG’s European operations from 2010 until 2017. Prior to 2004, he was a Co-Founder and President and CEO of Hotwire.com. He led the business from its launch in 2000 through its sale to InterActiveCorp (now Expedia) in 2003. Before Hotwire, Mr. Peterson was a Principal at TPG in San Francisco, and from 1992 to 1995 he was a financial analyst at Goldman, Sachs & Co. Mr. Peterson is currently a director of Playa Hotels and Resorts and serves as Chairman of Accel Entertainment and Sabre. Additionally, he is the Chairman of three SPACs: TPG Pace Solutions, TPG Pace Beneficial, and TPG Pace Beneficial II.
John Jannarone, Editor-in-Chief