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Report: Tencent, Warburg Pincus to invest US$1.5B in Chinese brokerage Lianjia

Beijing Homelink Real Estate Brokerage Co. Ltd., also known as Lianjia, is looking to receive about US$2 billion in capital from investors, including US$1 billion from Chinese internet giant Tencent Holdings Ltd. and US$500 million from U.S. private equity firm Warburg Pincus LLC, The Wall Street Journal reported, citing unnamed sources.

The Beijing-based real estate brokerage could see a valuation of about US$13 billion in the funding round, the sources told the news outlet. According to the report, China Vanke Co. Ltd. and Sunac China Holdings Ltd. are among the earlier investors in Lianjia.

Lianjia, which is considering an IPO in Hong Kong or the U.S. in the years ahead, will use the money to broaden Beike. Beike is a real-estate brokerage website recently launched to provide brokerage and financial services to renters and home buyers in China.

Tencent, through the investment, should be able to diversify outside of its core gaming and social media businesses by gaining exposure to the booming housing market in China, one source said.

Representatives for Lianjia did not comment on the matter, according to the publication.