Tech pursuits lift PE investment to high
Print Edition
CHINA’S private equity investment surged to a record high last year as investors pursued high-growth opportunities in technology, PricewaterhouseCoopers said in a report yesterday.
PE investors injected US$192.1 billion in new investments last year, marking a 169 percent jump from a year earlier, according to the report.
A rise in the “new economy” and government support for entrepreneurship were driving the momentum, the report said.
“Technology investments were hot, with investors chasing tech opportunities in China in search of perceived high-growth opportunities as the economy slowed,” said Gao Jianbin, PwC’s central China private equity group leader.
The high-technology sector topped in both deal volume and value. There were 423 deals in the sector last year, up 40 percent from a year earlier. The value of deals in the sector jumped more than six times from that in 2014 to US$76.8 billion, the report said.
PwC also pointed out that outbound PE investment rose again last year, with the number of deals doubling from 2014 to 95 in 2015 and deal value growing 14 percent to US$16 billion.
“The outbound trend for PE and financial buyers is now well established. These investors are mainly seeking overseas assets with a China angle,” said Tang Xun, PwC China transaction service partner.
PwC predicted the pace of outbound PE investment to continue growing this year.
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