Private equity accounted for a record share of Chinese mergers and acquisitions in 2021, and the country’s well-funded buyout firms are likely to be busy this year too, as corporate restructurings and multinational disposals generate more targets.
The industry’s rising influence contrasts with relatively muted overall M&A activity in China, which last year grew far more slowly than a booming global market.
Private-equity-backed transactions in China jumped 26% last year to a record $108 billion, according to Refinitiv data, making up an unprecedented one-fifth of all deals by dollar value. The figures include Western-style buyouts by privately owned financial firms, as well as smaller investments and deals led by state-backed investors.
In contrast, overall M&A with any Chinese involvement edged up 2.8% to $580 billion, lagging behind a nearly two-thirds surge in…
