Chinese Private Equity Funds Are Taking on the World's Giants

China's PE industry is expanding globally at an unprecedented pace, putting firms in competition with European and US counterparts like never before. "There's a lot of domestic capital available, obviously looking for a home, and that's fueling the emergence of these funds," said Michael Thorneman, a partner with Bain & Company. The number of active Chinese funds, at 672 during 2013-2015, was the highest in at least five years, according to data compiled by Bain.