This article originally appeared on AMEInfo.

With its complex interplay of fund-raising, investments, exits and returns carried out on a global scale against kaleidoscopic shifts in the business cycle, credit conditions and regulatory environment, a year in private equity (PE) is a lifetime in most other industries. The global economic expansion showed signs of strain amid continued record-low interest rates, feverish competition that had investment multiples skirting record highs and increased volatility in public equity markets, presenting many challenges in 2015. Yet PE turned in another surprisingly solid year.

As we explain in Bain & Company’s Global Private Equity Report 2016, PE’s vital signs remained healthy in 2015.

Read the full article at AMEinfo.com.

Hugh MacArthur is leader of Bain & Company’s Private Equity Group. Gregory Garnier is a partner in Bain & Company’s Middle East office and a core member of the firm’s Private Equity Group.