(Bloomberg) -- CVC Capital Partners Plc is in talks about a potential investment in residential property manager Odevo, people with knowledge of the matter said.

Most Read from Bloomberg

• Nazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban Eyecatcher

• Chicago Overcomes DNC Skeptics With Calm, Parties and Sun

• How the Corti?os of S?o Paulo Helped Shelter South America’s Largest City

The private equity firm has been discussing the purchase of a significant minority stake in Odevo, according to the people, who asked not to be identified because the information is private. A transaction could value Odevo at more than $3 billion, one of the people said.

Odevo, which is backed by European investment firm Fidelio Capital, was formed through a combination of Sweden’s Nabo and SBC with UK-based Rendall & Rittner. It has since grown rapidly through further acquisitions, buying companies including Finnish property manager Retta Is?nn?inti Oy and William Douglas Management, which gave it a major presence in North and South Carolina.

The company, led by Chief Executive Officer Daniel Larsson, has about 7,000 employees with 1.4 million homes under management and $720 million of annual revenue, according to a press release this month.

Deliberations are ongoing, and there’s no certainty they will lead to a transaction, the people said. A spokesperson for CVC declined to comment. Representatives for Fidelio and Odevo couldn’t immediately be reached for comment outside regular business hours.

Most Read from Bloomberg Businessweek

• Far-Right ‘Terrorgram’ Chatrooms Are Fueling a Wave of Power Grid Attacks

• Hong Kong’s Old Airport Becomes Symbol of City’s Property Pain

• Losing Your Job Used to Be Shameful. Now It’s a Whole Identity

• FOMO Frenzy Fuels Taiwan Home Prices Despite Threat of China Invasion

• Fox News Embraces a Different Kind of Guest: Democrats

?2024 Bloomberg L.P.