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Carlyle Group Buys Minority Stake In

The Carlyle Group has purchased a minority stake in a Chinese online and mobile based advertising company; offers listings including job openings, housing and local services to over 350 cities across China. Eric Zhang, the manager director of Carlyle said, “ 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.” The money came from Carlyle Asia Partner IV fund, but the details of the deal were not disclosed.