The Carlyle Group has acquired a significant minority stake in Anxin Apartment, an affordable corporate housing operator in China. Equity for this transaction came from Carlyle Asia Growth Partners V and Carlyle Beijing Partners Fund II.
Founded in 2014, Shanghai-based Anxin Apartment provides employee housing solutions to corporates 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.
Dennis Wang, managing director of Carlyle’s Asia Buyout advisory team, said, “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 ex
