The real deal on RealPage
Thoma Bravo Thoma Bravo is a Chicago-based private equity firm with approximately $184 billion in assets under management. Thoma Bravo purchased property management software company RealPage in 2021 for $10.2 billion. …
Explore the issues
Find more information on the issues deeply affected by private equity investments:
Why hasn’t Blackstone settled the DOJ’s RealPage price-fixing suit like peers Greystar and Cortland?
On August 8, 2025, property manager Greystar settled with the US Department of Justice (DOJ) and several state Attorneys General in their ongoing lawsuit against property management software…
Media outlets highlight PESP’s warnings on private equity in 401Ks
Trump Executive Order Opens 401(k) Plans to Private Equity, Prompting Serious Concerns Executive Order Summary This month, President Trump signed an executive order that instructs the Department of Labor (DOL), Securities and Exchange Commission (SEC)…
Cities work to ban Thoma Bravo-owned RealPage
As the Private Equity Stakeholder Project continues to write about, RealPage is a property management software that has been the subject of ongoing controversy after being accused of facilitating rental price collusion, through…
Announcing PESP’s first-ever impact report
We’re proud to share with you the first-ever Private Equity Stakeholder Project Impact Report. Private equity and other private funds have grown into a $22 trillion industry that now employs tens of millions of…
Watch now: The Hidden Hand in Housing
Last month, African Communities Together (ACT) hosted a webinar titled: The Hidden Hand in Housing: Unpacking Private Equity’s Role in Our Housing Crisis, which focused on the LA-based private equity firm, the…
PESP in the News – July 2025
PESP’s work and research into the private equity industry generates significant media coverage in numerous outlets. Scroll down to see where our expertise was featured in July 2025. Featured coverage Wall St. Firms Are Buying…
Private equity is buying up homes in Ohio
A recent article in the Columbus Dispatch, “When Wall Street is your landlord: How institutional investors impact central Ohio,” found that six corporate landlords have acquired a…
PESP warns Trump Executive Order puts 401(k) retirement savings at risk
PESP warns Trump’s Executive Order opening 401(k)s to private equity poses significant risks to working Americans’ retirement savings Executive Order could benefit Wall Street firms while exposing retirement savers to higher fees, poor returns, and hidden risks Today, President Donald…
Thoma Bravo-owned RealPage’s latest actions: lawsuits and lobbying
As of July 2025, several major cities have passed bans against RealPage, an algorithmic property management software owned by the private equity firm Thoma Bravo. These cities include San Francisco, Minneapolis, San Diego, and Philadelphia. Other…
PESP in the News – June 2025
PESP’s work and research into the private equity industry generates significant media coverage in numerous outlets. Scroll down to see where our expertise was featured in June 2025. Featured coverage Why Is BlackRock Gunning to…
Kansas City tenants win contract, ending eight month rent strike
Kansas City Tenants Union (KCTU) members gained major concessions from their landlord. The successful negotiation led to the end of a historic rent strike that they say is the longest to ever to occur in the region.
