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PE funds to invest more after IPOs resume
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Private equity investments will continue to rise this year after the reopening of the initial public offering market and an improvement in the regulatory environment, PricewaterhouseCoopers said in a report yesterday.
“China’s PE market developed strongly in 2013 and picked up throughout the year,” said Gao Jianbin, PwC central China private equity group leader. “There were also breakthroughs on the regulatory front with reforms in fundraising, investment, administration and withdrawal of capital. These changes have made the PE market more stable.”
The value of private equity deals in China jumped to US$35 billion last year from US$23.9 billion in 2012, according to the report.
China also reopened the IPO market in December, ending a record 13-month ban, which will facilitate the withdrawal of private equity funds through IPOs and channel them into unlisted companies, according to PwC.
Roger Liu, PwC China and Hong Kong deal private equity leader, said he expected PE funds to “play a greater role in financing growth of the private sector and restructuring of state-owned enterprises” after the China Securities Regulatory Commission last week established a new unit to oversee private equity activities.
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