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HONG KONG Aug 12 Carlyle Group has
bought a minority stake in Chinese online and mobile-based
classified advertising business Ganji.com, the global private
equity firm said on Tuesday.
Founded in 2005, Ganji.com provides listings including job
recruitment, housing and local services to more than 350 cities
"Ganji.com is well-positioned to benefit from the evolution
of industry digitalisation, 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 in China," Eric Zhang, managing director of Carlyle,
said in a statement.
Equity for the deal came from the Carlyle Asia Partners IV
fund, but financial details were not disclosed.
Carlyle Group had $203 billion of assets under management
across 126 funds and 139 fund of funds vehicles at June 30. As
of Mar. 31, Carlyle had invested $5.2 billion in about 80
transactions in China.
(Reporting by Stephen Aldred; Editing by David Goodman)