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.
