Ascent Real Estate Investors (“ARE”) is a private equity real estate investment manager focused on China. We specialize in making, managing and realizing real estate investments in China on behalf of global institutional capital, and delivering attractive investment returns. ARE was founded in January 2019 as a result of the spin-off of global private equity giant The Carlyle Group’s China real estate investment management practice, which then consisted of equity capital under management of US$470 million. Before that, the ARE team had been making real estate investments in China for Carlyle since 2004. During 2004-2018, the ARE team completed 40 real estate investments in China across the office, logistics, retail and residential real estate sectors with aggregate capitalization of US$4.2 billion and aggregate equity capital investment of $1.4 billion. 32 of them have been realized with attractive returns and zero investment loss record, making us one of the most experienced and successful private equity real estate teams in China.