The Carlyle Group buys stake in corporate housing operator

Global investment firm The Carlyle Group has acquired a significant minority stake in Anxin Apartment, an affordable corporate housing operator in China, the firm said on Thursday in a statement.

The Carlyle Group did not disclose the value of the transaction. The investment highlighted the firm's interest in China's fast-growing affordable corporate housing market.

Founded in 2014, the Shanghai-based Anxin Apartment provides employee housing solutions to companies in the service sectors, focusing on first-tier and core second-tier cities in China. Anxin operates more than 160 apartment complexes across 24 cities in China, allowing approximately 2,000 corporate customers to provide accommodations to their employees.

"Anxin Apartment is a fast-growing player in the affordable corporate housing segment in China. The increasing number of workers in the service sectors moving to first-tier and second-tier cities in China has generated strong demand for well-run, affordable housing solutions in these cities. With an experienced management team, a proven business model and solid operational know-how, Anxin is well-placed for further growth in this market," said Dennis Wang, managing director of Carlyle's Asia buyout advisory team, in a statement.

The Carlyle Group has invested more than $9.5 billion of equity in over 100 transactions in China as of Sept 30.