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Bain Capital sees China PE market recovery

Bain Capital is expecting China’s struggling $539 billion private equity market to stage a recovery as early as this year, although deal activity may be hard pressed to reach previous levels, according to a report by Bloomberg.

In an interview with Bloomberg, Jonathan Zhu, partner and co-head of Asia for Bain Capital Private Equity LP, said he expects the market to benefit from a number of tailwinds, including the lifting of the country’s ‘zero Covid’ restrictions at the end of last year and the recent rebound in Chinese stock markets.

According to recent research from Preqin, aggregate capital raised by Greater China-based PE and venture capital fund managers fell to $36.8 billion last year, down from an average $148.9 billion raised between 2019-2021. Greater China-focused PE assets under management meanwhile, reached $539 billion as of June last year. 

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