Wall Street wants slice of China's booming rental housing market

Warburg Pincus doubles down on bet as Canadian pension fund joins bandwagon

A U.S. flag hangs above an entrance to the New York Stock Exchange. China's growing rental housing market is attracting U.S. capital, despite the ongoing trade tensions.

ALEX FANG, Nikkei staff writer

March 14, 2019 00:34 JST

NEW YORK -- Wall Street is pouring funds into China's rental housing market as startups capitalize on government support for the sector and a growing population of renters.

In a $150 million funding round announced this week, New York-based private equity firm Warburg Pincus strengthened its position in Mofang Apartments, a Shanghai-based rental startup. The round was led by Canada's second-largest pension fund, Caisse de depot et placement du Quebec.