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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.   © Reuters

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.

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