Ganji receives $200m investment

Global alternative asset manager The Carlyle Group LP and fund company Tiger Fund have invested more than $200 million in Chinese online and mobile-based classified advertising operator Ganji Inc, aiming to profit from the nation's expanding e-commerce sector.

Carlyle said it took a minority stake in Ganji without giving further details.

"Ganji is well-positioned to benefit from urbanization, digitalization of services, high demand for online classifieds and local services, an enormous Internet and mobile Internet user base as well as an increasingly sophisticated e-commerce culture," Eric Zhang, a managing director of The Carlyle Group, told China Daily.