SEEK's (ASX:SEK) growth fund has agreed to sell part of its stake in HR platform Employment Hero to funds managed by investment firm KKR, according to a Tuesday filing with the Australian bourse.
The transaction will see SEEK's share of the proceeds amount to approximately AU$79 million, the filing said.
The sale reflects a 19% higher valuation for Employment Hero compared to its valuation as of June 30, 2024, the filing added.
The transaction, expected to settle by March, will help SEEK reduce debt while retaining a meaningful stake in Employment Hero.
The Fund plans to open a liquidity window in 2026, potentially generating further capital returns for SEEK, the company added.
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