The industry report said it will be difficult for PE investors in China to maintain the momentum for the rest of the year due to various factors, including fierce competition and economic slowdown.
The number of deals surged to 350, exceeding the market’s five-year average by 30 percent, the report said. The value of funds that exited also tripled from a year earlier to US$61 billion.
The strong performance was driven by mega transactions in the Internet and technology sectors, which accounted for 40 percent of the total deal value, the consulting firm said.
Bain’s PE Practice leader Kiki Yang said China’s slower economic growth and stiff competition will make it harder to generate high returns in the future.
However, the proceeds raised plunged by 79.7 percent from December and tumbled 72.1 percent from a year earlier, said a report released by Zero2IPO Research.