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Deals sealed by China's private equity market up 316 percent
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CHINA'S venture capital and private equity market sealed 79 investment deals in October, more than three times the figure in the same period last year, according to an industry report.
The number of settled deals represented a year-on-year surge of 316 percent and a gain of 9.7 percent from a month earlier, Zero2IPO Research Center said in a report today.
The aggregated value of 69 deals that have disclosed transaction figures was US$1.7 billion, up 268 percent from a year earlier and 161 percent from September, said the report.
The spurt was attributed to two massive deals, which were the acquisition of Pactera Technology International Ltd by US private-equity giant Blackstone Group LP, and TPG Capital's purchase of a 12.2-percent stake in Phoenix Satellite Television.
The information technology industry saw the greatest investment of US$735 million, accounting for 42 percent of the total, followed by US$224 million invested in the media sector and US$222 million in the property development sector.
In terms of the number of deals, the telecommunications sector and Internet industry were tied for first at 23 deals each, followed by biotechnology & healthcare and the real estate business, which were tied for second with five each.
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