Canadian pension fund bets on Chinese rental market

International investors are entering the Chinese rental apartment market. They are encouraged by a business-to-consumer model and the possibility of a publicly traded Reit.

Mofang, a Chinese long-term rental apartment brand, said on Monday that it had closed its $150 million Series D funding from Canadian pension fund Caisse de dépôt et placement du Québec CDPQ.

Existing investor Warburg Pincus remains the largest shareholder after the financing round.

Founded 10 years ago in Shanghai, Mofang is the largest institutional rental apartment company in China and manages more than 70,000 apartments in 20 Chinese cities. According to chief executive Kitty Liu, Mofang wants to use funds raised to expand its franchise business.

Mofang previously completed three rounds of equity fundraising totalling $400 million from investors that include...

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