Carlyle has made an undisclosed investment in Ganji.com. Based in Beijing, China, Ganji.com is an operator of online and mobile-based classifieds.
Beijing, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) has made a minority investment in Ganji.com, an operator of online and mobile-based classifieds in China. Equity for the transaction came from Carlyle Asia Partners IV. Further details of the transaction were not disclosed. As of March 31, 2014, Carlyle has invested USD5.2 billion in about 80 transactions in China.
Founded in 2005, Ganji.com provides a wide range of listings across a long tail of service categories, including job recruitment, housing and local services, to over 350 cities in China, offering a trusted online platform for small and medium enterprises, real estate agents and merchants to connect with customers.
Eric Zhang, Managing Director of The Carlyle Group, said, “Ganji.com is led by a seasoned management team and has established a strong market position in China’s online marketplace with a proven business model. We believe in Ganji.com’s growth prospects, and look forward to working with Mark and his team to support the company’s continued growth and expansion through Carlyle’s global resources and industry expertise.”
“Ganji.com is well-positioned to benefit from the evolution of industry digitalization, 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,” he added.
Mark Yang, Founder and Chief Executive Officer of Ganji.com, said, “Ganji.com is a prominent player in the sector, and is poised for exponential growth as the digitalization of services provides tremendous growth opportunities. We are excited to partner with Carlyle, and are confident that this partnership will bring us advanced internet management know-how and global best practices to further develop our businesses, expand merchant base and customer reach, strengthen marketing and channel management, and enhance our company’s profile.”
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 126 funds and 139 fund of funds vehicles as of June 30, 2014. Carlyleʹs purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 40 offices across six continents.
Founded in 2005, Ganji.com is an operator of online and mobile-based classifieds in China, with a mission of “providing high-quality information to people in a more convenient way”. Ganji.com offers a wide range of listings across a long tail of service categories, including job recruitment, housing, second-hand goods and vehicle trading, pet services, ticketing, education and local services, to over 350 cities in China. Headquartered in Beijing, Ganji has established branches in Shanghai and Shenzhen.